Intermap Technologies (IMP.TO) has partnered with Saudi Arabia's first national Earth observation data platform, NSG UP42.
Through the platform, users in Saudi Arabia can access Intermap's services that provide detailed 3D representations of terrain and surface features across large geographic areas. The AI-ready terrain data will help users turn the information into "actionable" intelligence for infrastructure, flood risk, energy and national development planning, a statement said.
Crude futures settled higher in after-hours trading on Monday after President Trump reinstated a blockade targeting Iran and unveiled plans for a 20% reimbursement fee on vessels transiting the Strait of Hormuz, stoking concerns about further disruption to global energy flows.Front-month West Texas Intermediate crude futures surged 9.7% to $78.33 per barrel, while Brent futures advanced 9.9% to $83.65/bbl. Crude futures are at their highest level in nearly a month.The US Central Command said on Monday that the US military launched more strikes against Iran at President Trump's direction."These strikes will continue imposing a heavy cost on Iranian forces and degrade their ability to attack innocent civilians and commercial shipping in the Strait of Hormuz," Centcom said in an X post on Monday.The US military is set to resume blockading traffic to and from Iranian ports and coastal areas starting at 4 p.m. ET on Tuesday, after Trump reinstated the blockade of Iranian ships transiting the Hormuz and demanded a 20% reimbursement on all other cargo shipped through the waterway.However, Iranian Foreign Minister Seyed Abbas Araghchi reacted to the post, saying that while Trump was correct in principle that countries responsible for ensuring the safe passage of commercial vessels should receive compensation, Tehran remains the historic guardian of the strategic waterway."Iran has always been the guardian of the Strait and will remain so forever. 20% is of course too much. We will be fair," Araghchi posted on X.The International Maritime Organization, the United Nations' shipping agency, said in a statement on Monday that it opposes any form of transit fee in the Strait of Hormuz.IMO said that passage through the Strait of Hormuz should remain free of tolls and charges, in accordance with international law.Gelber & Associates strategists said Trump's reinstatement of restrictions on Iranian maritime traffic, alongside retaliatory attacks and reduced vessel flows through the Strait, has intensified concerns over near-term supply availability.Earlier on Monday, Iran's Islamic Revolutionary Guards Corps said that normal shipping through the strategic waterway could resume only if the US halted its military operations in the region, noting that continued American intervention risked broader disruption to global oil and gas markets.The Persian Gulf Strait Authority, the Iranian authority overseeing navigation in the Hormuz, also said transit had been suspended following what it described as "illegal movements" by US military forcesMeanwhile, tanker traffic through the Hormuz fell significantly, with the latest data from MarineTraffic indicating that confirmed crossings dropped by about 52% over the week, between July 10 and July 12.Kim said that unless shipping through Hormuz normalises quickly, the market is likely to remain highly sensitive to any further attacks on energy infrastructure.The US has played a central role in cushioning global oil markets amid ongoing supply disruptions, but its ability to continue offsetting losses is under pressure as domestic emergency stockpiles decline and risks mount in the Strait.Meanwhile, the US Department of Energy's latest data released Monday showed the Strategic Petroleum Reserve held 316.5 million barrels as of July 10, down from 319.5 million barrels a week earlier.
Iran shipped at least 57 million barrels of crude while US maritime blockade restrictions were temporarily eased, allowing exports to recover before Washington reinstated the measures, Bloomberg reported Monday.In the brief period between the US-imposed maritime blockades, Iran's crude exports averaged at least 2.2 million barrels per day, aided by shipments from its export terminals and by cargoes carried by tankers that had remained at an Iranian port in the Gulf of Oman. Actual export flows could be higher, according to Bloomberg.Washington will reinstate shipping restrictions tied to Iranian ports and seek a 20% reimbursement on cargo moving through the Strait of Hormuz after President Donald Trump ended a short-lived easing of sanctions on Iranian crude sales.Iran's Ministry of Foreign Affairs could not be reached for comment, despite' attempts.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)