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Iran dispatched a warship to the Red Sea after the US Navy destroyed three Houthi boats.

Kenya, Uganda and Zimbabwe have agreed to buy petrochemicals from Iran in exchange for the sanctions-hit country importing other goods.

Relations between the U.S. and Iran have been tense since the effective collapse in 2018 of an agreement to curb Iran's nuclear program.

'The risk profile for commercial vessels operating in the region remains at severe/critical,' Dryad stated.

Iran is shipping the most crude in almost five years.

'This is the first time an Iranian warship has traveled to the southern hemisphere in this capacity,' Dryad said.

Baghdad and the Kurdistan government have agreed on the resumption of oil export via Ceyhan.

Iraq expects to soon reach a final agreement with Kurdistan and international oil companies there to restart oil exports.

Iraq again missed its OPEC+ oil production target in March.

'There is no light at the end of the export pipeline'.