The physical market, however, is showing some bullish signs, according to ING, which last week noted that “signs of tightness in the prompt physical market should continue to support the oil market. This tightness can be seen in the strengthening of timespreads.”
The spokesperson for Iran’s Emergency Organization announced that following the powerful explosion at Shahid Rajaee Port in Bandar Abbas, emergency teams were quickly mobilized, transferring 516 injured individuals to hospitals so far, according to IRNA on Saturday. So far, four people have been reported dead. Investigations into the cause and damage of the explosion are still ongoing.
The Israel Defense Forces (IDF) conducted an airstrike on a home in the Jabalia refugee camp in Gaza, resulting in the deaths of ten people, Al Jazeera reported.
Israeli forces also shelled a house in the Maghazi refugee camp in central Gaza, injuring a number of Palestinians. Additionally, the IDF stormed the Al-Fawwar camp, which is located west of Hebron in the West Bank, firing live bullets at homes in the area.
Yemen’s Houthi militants on Monday claimed that a US military strike in a prison housing African migrants in the Saada region resulted in 68 fatalities and 47 injuries. The US initiative, dubbed “Operation Rough Rider,” continues to strike rebel positions while the Trump administration engages in diplomatic talks with Iran, the rebels’ primary supporter, regarding its expanding nuclear capabilities.
Previously, the US Military Central Command (CENTCOM) defended its stance on withholding specific information about its bombing operations in the country. “To preserve operational security, we have intentionally limited disclosing details of our ongoing or future operations,” CENTCOM stated.
Russian defenses repelled an attack by Ukrainian unmanned aerial vehicles (UAVs) on the region of Bryansk, according to Alexander Bogomaz, the governor of the region. “Currently, our defenders are repelling another attempt at an attack using UAVs on the territory of the Bryansk region. The air defense forces of the Russian Defense Ministry are working to detect and destroy air targets,” Bogomaz wrote on Telegram, calling on the region’s residents to observe safety measures.
nn: it does not look like pax trump is working out so well…. oil shorts are really worried and updating their LinkedIn profiles.