Author: BlackMask Financial

Oil climbed as the market assessed the risk of additional US sanctions on Russia and the chance that nuclear talks with Iran would fail to produce an agreement. West Texas Intermediate climbed more than 1% to approach $62 a barrel after President Donald Trump said Russian President Vladimir Putin was “playing with fire” by escalating attacks on Ukraine. The US is weighing additional sanctions on the country after aggressive measures against Russia’s oil industry earlier this year sent crude rallying past $80 a barrel. Elsewhere, the New York Times reported that Israeli Prime Minister Benjamin Netanyahu is pressing on with threats to disrupt talks between Washington and Tehran by striking the Iran’s nuclear facilities. A wrong turn in the negotiations stands to crimp flows from the OPEC member.

Still, bearish forces loom in the background. OPEC+ is gathering online to review production quotas for this year and next, before eight key members decide over the weekend whether to bolster output again in July. Members held preliminary talks last week on making a large production hike for a third consecutive month, according to delegates. The ramp-up of idled production by OPEC and its allies has stoked fears about oversupply and added to the pressure on prices. Parts of the futures curve for Brent are in contango — a bearish structure that signals ample supply. Oil has trended lower since mid-January, with sweeping tariffs from the Trump administration and retaliatory measures from targeted countries raising concerns of an economic slowdown. However, there has been some signs recently of easing trade tensions.

Israeli Prime Minister Benjamin Netanyahu commented on Wednesday on his country’s Air Force attacking the airport in Yemen’s capital, Sanaa, which Israel claimed is controlled by Houthis, and stated that Iran is responsible for the attacks coming from Yemen. “The Air Force has now attacked again the airport in Sana’a, which is controlled by the Houthi terrorist regime in Yemen. We operate according to a simple principle: Whoever harms us – we will harm him. Whoever does not understand this by force – will understand this with even greater force,” Netanyahu said in a post on X, adding that Houthis are just “the symptom,” and that Iran is “the main force” behind “the aggression emanating from Yemen.” Israeli Defense Minister Israel Katz previously said that anyone who harms his country will be harmed “sevenfold,” calling the attacks on the Yemeni airport “a clear message” that is in line with Israel’s policy.

Trump, Netanyahu said to have had ‘tense’ call on Iran

Israel has been continuing to insist on a military action against Iran in recent days, as it remains concerned about the latter’s nuclear program and whether the United States will be able to strike an agreement with Tehran, the New York Times reported on Wednesday, citing sources with knowledge of the matter. According to the sources, disagreements on how best to deal with the situation led to “at least one tense phone call” between US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu, as well as a series of meetings between top officials from both sides.Sources familiar with the US-Iran negotiations revealed that, at best, some common principles would be declared, with the details under discussion still unknown.

United States President Donald Trump warned Israel’s Prime Minister Benjamin Netanyahu against taking any steps that could obstruct nuclear negotiations with Iran, Axios reported on Tuesday, citing a White House official and another source with knowledge of the matter, after Israel’s Channel 12 released a similar report the day before. In a phone call last Thursday, Trump told Netanyahu that he does not “want anything to impede” a diplomatic solution with Tehran, warning the Israeli leader that he “doesn’t want him to antagonize at a time when he is trying to solve problems,” according to the White House official. The sources added that the US president told Netanyahu that the “other option” is on the table, referring to a potential attack on Iran, but first wants to try to reach a diplomatic solution.

United States President Donald Trump remarked on Tuesday that his Russian counterpart Vladimir Putin is “playing with fire” regarding the conflict in Ukraine. “What Vladimir Putin doesn’t realize is that if it weren’t for me, lots of really bad things would have already happened to Russia, and I mean REALLY BAD,” Trump wrote on Truth Social. His brief post came after a report of Trump considering introducing new sanctions against Russia to pressure it toward peace in Ukraine.

nn: this war will end when Putin captures al of the Ukraine

Japan’s Nippon Steel Corp. is expected to buy US Steel for $55 per share, CNBC reported on Tuesday. United States President Donald Trump backed the deal last week, stating that the merger will create 70,000 jobs and add $14 billion to the US economy. Nippon Steel first proposed the $14.9 billion deal in 2023, which was accepted by US Steel later that year. Outgoing US President Joe Biden blocked it in January 2025, shortly before the end of his term, although the executive order was delayed following a lawsuit by both companies, leaving the final decision to Trump.

 

Yemeni Houthis announced on Tuesday they carried out a successful missile strike against Ben Gurion Airport near Tel Aviv in response to Israeli operations in Gaza. “The operation is a victory for our brothers in Gaza and a response to the incursion of thousands of Jewish mobs into the Al-Aqsa Mosque,” the militant group said, according to Al Masirah TV. The Israel Defense Forces (IDF), on the other hand, said it intercepted two missiles launched from Yemen earlier today. The group vowed to continue its strikes against Israel until the siege of Gaza is lifted.

German Chancellor Friedrich Merz shared on Tuesday while speaking in Turku, Finland, that “we are a long way away from the end” of the war in Ukraine. Mentioning his previous comments about France, Germany, the United Kingdom, and the United States agreeing to lift restrictions on the range limit for weapons being sent to Ukraine, he shared that that decision was made “months ago.” He went on to say that if Russia doesn’t accept Vatican mediation, this will only show that the country has no interest in reaching a ceasefire or a peace agreement.

Russia captures 4 villages in Sumy region, Ukraine says

Ukraine said on Monday that Russian troops captured four of its villages in the Sumy region, noting that all of the local residents had been evacuated beforehand.

Sumy Region Governor Oleh Hryhorov said on Facebook that Russian forces took control of Novenke, Basivka, Veselivka and Zhuravka, hoping to create a “buffer zone.” Hryhorov also reported ongoing hostilities near the villages of Vodolagi, Volodymyrivka, Bilovodiv, Kostiantynivka, Kindrativka and Lokni. “Our defenders decisively repel enemy attacks and do not allow them to advance deeper into the territory of Sumy,” Hryhorov added.

nn: trump says putin is crazy….. like a fox

Hamas is open to a phased ceasefire and hostage agreement with Israel that would lead to a permanent ceasefire, a Palestinian official briefed on the matter told The Times of Israel on Monday.The Palestinian militant group is “prepared to return all of the hostages now” if Israeli Prime Minister Benjamin Netanyahu agrees to end the Gaza war, the official said.

Earlier in the day, media reports claimed that Hamas had accepted a ceasefire proposal put forth by United States Special Envoy to the Middle East Steve Witkoff. However, Witkoff dismissed the reports, emphasizing that what he had seen from Hamas was “disappointing and completely unacceptable.”

Netanyahu: Hostage deal update hopefully today

Israeli Prime Minister Benjamin Netanyahu expressed on Monday his hope that the government will be able to provide a proper update on the negotiations about a ceasefire and hostage deal with Hamas later today, “and if not today, then tomorrow.”

In a video he shared on social media, Netanyahu added that returning the abductees is Israel’s “top priority,” while stressing that “we are doing everything to defeat Hamas and free our hostages.” Netanyahu’s comments came after United States Special Envoy to the Middle East Steve Witkoff said that Hamas did not agree to his ceasefire proposal, as reported, and that Israel accepted a partial truce, contrary to what was alleged.

Mohammad Ranjbaran, media advisor to Iran’s Foreign Minister Abbas Araghchi, said indirect nuclear talks with the United States stalled after Washington shifted its stance on uranium enrichment.

Speaking to Al-Mayadeen on Saturday, he explained that the US made halting enrichment a key demand after the second round. Although the US showed a positive approach in the third round, the talks broke down due to what he called contradictory messages.

Ranjbaran said Iran canceled the fourth round but resumed talks after receiving messages from Washington. He warned that uranium enrichment remains a serious issue, stating, “Their red line is on paper, but our red line is written in our veins. It’s untouchable.”

The United Nations’ World Food Programme (WFP) urged Israel to assist with aid distribution after its convoys were raided by starving residents. WFP added that aid was stolen from 15 of its lorries late last night in southern Gaza en route to bakeries. “Hunger, desperation, and anxiety over whether more food aid is coming is contributing to rising insecurity. We need support from the Israeli authorities to get far greater volumes of food assistance into Gaza faster, more consistently, and transported along safer routes, as was done during the ceasefire,” the world’s largest humanitarian organization said. Previously, UN Secretary-General Antonio Guterres highlighted that the UN has approximately 9,000 truckloads of aid ready to enter Gaza, along with a “detailed, principled, operationally sound five-stage plan” for delivering supplies to Palestinians, but Israel is blocking it.