{"id":61066,"date":"2026-04-19T14:38:33","date_gmt":"2026-04-19T18:38:33","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/adnoc-ceo-condemns-hormuz-protection-racket-as-regional-tensions-flare-6-1-quake-hits-tonga\/61066\/"},"modified":"2026-04-19T14:38:33","modified_gmt":"2026-04-19T18:38:33","slug":"adnoc-ceo-condemns-hormuz-protection-racket-as-regional-tensions-flare-6-1-quake-hits-tonga","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/adnoc-ceo-condemns-hormuz-protection-racket-as-regional-tensions-flare-6-1-quake-hits-tonga\/61066\/","title":{"rendered":"ADNOC CEO Condemns Hormuz &#8220;Protection Racket&#8221; as Regional Tensions Flare; 6.1 Quake Hits Tonga"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>ADNOC CEO Sultan Al Jaber labels Iranian transit fees in the Strait of Hormuz a &quot;protection racket,&quot;<\/strong> demanding the waterway be returned to international standards immediately.<\/li>\n<li><strong>Pakistani PM Shehbaz Sharif holds emergency talks with Iranian President Masoud Pezeshkian<\/strong> to de-escalate regional hostilities and sustain a fragile ceasefire.<\/li>\n<li><strong>Global energy markets face severe uncertainty<\/strong> as maritime &quot;safe passage&quot; payments threaten to disrupt roughly <strong>20% of the world&#39;s oil and gas supply<\/strong>.<\/li>\n<li><strong>A magnitude 6.1 earthquake struck near Hihifo, Tonga;<\/strong> while significant, no tsunami warnings were issued, and the immediate impact on global trade appears minimal.<\/li>\n<\/ul>\n<p>In a series of pointed statements on X, Sultan Al Jaber, the CEO of Abu Dhabi National Oil Company (ADNOC (<a href=\"\/stock\/ADNOC\">ADNOC<\/a>)), condemned the current maritime conditions in the <strong>Strait of Hormuz<\/strong>. Al Jaber labeled the recently reported fees for &quot;safe passage&quot; through the waterway a <strong>&quot;protection racket,&quot;<\/strong> asserting that the global economy cannot afford continued uncertainty in such a vital shipping lane.<\/p>\n<p>The CEO&#39;s comments come amid reports that <strong>Iran has attempted to impose tolls<\/strong> of up to <strong>$2 million per transit<\/strong> or <strong>$1 per barrel<\/strong> for vessels navigating the Strait. Al Jaber emphasized that the <strong>Strait of Hormuz belongs to the world<\/strong> and must be returned to its original status as a free and open international waterway. <em>Market analysts suggest these developments could lead to a significant spike in insurance premiums and shipping costs for global oil majors.<\/em><\/p>\n<p>On the diplomatic front, Pakistani Prime Minister <strong>Shehbaz Sharif<\/strong> held a 45-minute phone call with Iranian President <strong>Masoud Pezeshkian<\/strong> on Sunday. The leaders discussed the &quot;current regional situation&quot; following a high-level Iranian delegation&#39;s visit to Islamabad earlier this month. Sharif briefed Pezeshkian on his recent consultations with leaders from <strong>Saudi Arabia, Qatar, and Turkiye<\/strong>, aiming to build a regional consensus for <strong>dialogue and diplomacy<\/strong>.<\/p>\n<p>The diplomatic flurry follows a period of intense conflict that has seen a <strong>U.S. naval blockade<\/strong> of Iranian ports and a fragile ceasefire agreement. <em>The international community remains on high alert as the April 19 deadline for several U.S. sanctions waivers approaches, potentially further tightening the squeeze on global energy flows.<\/em><\/p>\n<p>Separately, the <strong>U.S. Geological Survey (USGS)<\/strong> reported a <strong>magnitude 6.1 earthquake<\/strong> striking the <strong>Tonga region<\/strong> near Hihifo at a depth of 10 kilometers. While the tremor was felt as far away as Samoa, authorities confirmed there is <strong>no tsunami threat<\/strong> to the region. No immediate reports of major infrastructure damage or casualties have been released, and regional shipping routes remain unaffected by the seismic activity.<\/p>\n<p>As the situation in the Middle East evolves, investors are closely monitoring the impact on <strong>Brent Crude<\/strong> and <strong>WTI<\/strong> prices. The prospect of a permanent &quot;toll booth&quot; at the world&#39;s most important energy chokepoint has raised fears of <em>long-term structural inflation in the energy sector.<\/em> Al Jaber\u2019s public stance signals a growing rift between regional energy producers and the current maritime security framework.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways ADNOC CEO Sultan Al Jaber labels Iranian transit fees in the Strait of Hormuz a &quot;protection racket,&quot; demanding 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