Author: BlackMask Financial

United States President Donald Trump has signed an executive order imposing sanctions on the International Criminal Court (ICC) due to the organization having engaged in “illegitimate and baseless actions targeting America and our close ally Israel.” Trump alleged in the order that the ICC “abused” its power by issuing “baseless” arrest warrants against Israeli Prime Minister Benjamin Netanyahu and former Israeli Defense Minister Yoav Gallant. Trump further argued that the court has no jurisdiction over the US or Israel, seeing as how “neither country is party to the Rome Statute or a member of the ICC,” nor did any of the two countries ever acknowledge ICC’s jurisdiction. The order imposes financial and visa restrictions on individuals and their families who aid in ICC investigations of US citizens or its allies. The US will place “tangible and significant consequences on those responsible for the ICC’s transgressions, some of which may include the blocking of property and assets, as well as the suspension of entry into the United States of ICC officials, employees, and agents, as well as their immediate family members,” the order reads.

Netanyahu thanks Trump for ICC sanction

Israeli Prime Minister Benjamin Netanyahu’s office praised US President Donald Trump’s order targeting the International Criminal Court (ICC) due to its probe for Gaza-related crimes. “Thank you, President Trump, for your bold ICC Executive Order. It will defend America and Israel from the anti-American and antisemitic corrupt court that has no jurisdiction or basis to engage in lawfare against us,” the office added on Friday. Previously, Trump signed an executive order sanctioning the ICC for “illegitimate and baseless actions targeting America and our close ally Israel,” following the court’s arrest warrant for Netanyahu and Former Defense Minister Yoav Gallant.

UN calls on Trump to reverse sanctions on ICC

United Nations High Commissioner for Human Rights Office on Friday urged United States President Donald Trump to revoke sanctions imposed against the International Criminal Court for issuing an arrest warrant for Israeli Prime Minister Benjamin Netanyahu. The court was “fundamental to ensuring justice and achieving accountability for the most serious crimes, whether committed in Ukraine, Sudan, Myanmar, occupied Palestinian territory, or anywhere else,” office’s spokesperson Ravina Shamdasani told AFP, stressing that the court should be able to “undertake its independent work.”

NN: Notice how they ignore Hamas and Iran

 

Crude oil prices declined on Thursday and hit their lowest level since December last year after United States President Donald Trump stated that his administration intended to reduce oil prices. Also, the latest US crude inventories report showed that crude oil stockpiles in the country rose by 8.7 million barrels.

West Texas Intermediate (WTI) for deliveries in March dropped to  $70.50 per barrel. Brent for May settlement dropped to $73.70 per barrel.

United States President Donald Trump insisted on Thursday, appearing at the National Prayer Breakfast for the second time today, that his administration will drive the price of oil down, after which “everything will follow.” “We gotta bring the country back,” he underlined. Continuing his speech, Trump said that he had “great elections.” “We’ve won all seven swing states. We’ve won the popular vote by millions of people,” he proclaimed.

New Interior Secretary Advances Trump Agenda, Signs 6 Orders

A statement posted on the U.S. Department of the Interior’s (DOI) website this week announced that U.S. Secretary of the Interior Doug Burgum “advanced President Trump’s agenda by signing six Secretary’s Orders”. The statement outlined that, as part of these orders,

the DOI “will immediately identify all emergency and legal authorities available to facilitate the identification, permitting, leasing, development, production, transportation, refining, distribution, exporting and generation of domestic energy resources and critical minerals”.  

The DOI will also “identify all emergency and other legal authorities available to expedite the completion of all authorized and appropriate infrastructure, energy, environmental, and natural resources projects” the statement noted, adding that the secretary “will report the use of such authorities and submit recommendations for exercising certain authorities as necessary to the President”. In addition, the statement revealed that Burgum is directing “a review of all appropriations from the Inflation Reduction Act and Infrastructure Investment and Jobs Act to ensure consistency with President Trump’s energy dominance policies”.

The DOI’s statement also announced that the DOI “will resume taking all actions available to expedite the leasing of the Outer Continental Shelf for oil and gas exploration and production” and highlighted that one order “mandates the Interior Department to take immediate steps that will reduce living costs for American families”.

Another order “directs the Department to take all necessary steps to unleash the State of Alaska’s abundant and largely untapped supply of natural resources”, the statement pointed out. “Today marks the beginning of an exciting chapter for the Department of the Interior,” Burgum said in the statement. “We are committed to working collaboratively to unlock America’s full potential in energy dominance and economic development to make life more affordable for every American family while showing the world the power of America’s natural resources and innovation,” he added.

“Together, we will ensure that our policies reflect the needs of our communities, respect tribal sovereignty, and drive innovation that will keep the U.S. at the forefront of energy and environmental leadership,” he continued.

In a statement sent to Rigzone this week, National Ocean Industries Association (NOIA) President Erik Milito said, “NOIA strongly supports Secretary Doug Burgum’s decisive actions to strengthen American energy security, reinforce national security, and unleash the full potential of the U.S. offshore energy industry”.

“By addressing burdensome regulatory barriers … these actions will align U.S. energy policy with the nation’s current and future needs. They will enhance energy security, bolster national defense, grow our economy, and keep energy affordable for every household and business, reducing reliance on foreign adversaries,” he added.

“By restoring regulatory certainty, attracting investment, and creating high-quality jobs while maintaining high levels of environmental stewardship, these reforms will strengthen America’s position as the global energy leader,” Milito went on to state. “NOIA looks forward to working with Secretary Burgum and DOI leadership to implement these critical policies and secure a stronger offshore energy future,” he continued.

NN drill babby drill

Iran’s President Masoud Pezeshkian has urged OPEC members to unite against possible U.S. sanctions after U.S. President Donald Trump said he will drive Tehran’s oil exports to zero.

Back in July,  Trump promised in his Republican National Convention speech to reduce Iranian oil exports. He said he had previously achieved this objective by linking it to trade; “I told China and other countries, if you buy from Iran, we will not let you do any business in this country and we will put tariffs on every product you do send in of 100% or more.” According to StanChart, Iranian oil is likely to play a key role in Trump’s wider China trade policy agenda. China has been importing Iranian oil indirectly via proxies. According to StanChart, crude oil imports from Malaysia clocked in at 1.456 million barrels per day (mb/d) in June, the second-highest monthly average on record. The commodity experts pointed out that Malaysia’s crude oil output is about 0.35 mb/d while exports usually average 0.2 mb/d, implying that the vast majority of the oil that China imports from Malaysia was not produced in the country. According to multiple media sources, the transfers involve a dark fleet consisting of a group of aging tankers that rarely have an identifiable insurer. These transfers can be hazardous, including the danger of spills and collisions, with so many low-quality tankers massed in a narrow trade route with their transponders off. For instance, two such vessels caught fire off Singapore after a collision in July.

Nick Note: let’s get real here, everyone is getting hysterical over trump putting sanctions on I ran. Which he keeps saying he really really doesn’t want to do. but Iranian oil exports to mostly China is only 1.5 million barrels a day.Iit’s nothing it’s not even a factor in the marketplace. Its is a rounding error at best. The Russians are sneaking out enough extra oil to cover any  Iranian loses. Us oil producers are going Gaga crazy to increase production.  Canada wants to get  oil as much as it can as soon as you can to market. and so does Mexico. Inventory has been building the last three weeks.  We are out of the prime time heating oil season. And for sure Trump does not want to go to war with Iran. But he’s as serious as a heart attack when he tells them look you can do  no nukes.  If you get a nuke we’re going to blast you to smithereens.  Israel is like an attack dog that smells  raw meat. They would love nothing better than to get the go ahead to  send them to their virgins.  So to be clear here Iran oil is not coming out of the market.   Canadian Oil is not going to come out of the market. Mexican oil will be delivered.

US President Donald Trump took to Truth Social on Thursday to say that the Gaza Strip would be “turned over” to the US by Israel after the war in the enclave ends. “The Palestinians, people like Chuck Schumer, would have already been resettled in far safer and more beautiful communities, with new and modern homes, in the region. They would actually have a chance to be happy, safe, and free,” he added. He said that no US soldiers would be needed. Trump previously proposed that the US would take a “long-term ownership position” over the territory and develop the Strip into a utopian “Riviera” of the Middle East, where people from “all over the world” would live in peace, provided the mass displacement of Gazans

NN I wish!

 Weekly Petroleum Data for the week ending January 31, 2025

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 8.7 million barrels from the previous week. At 423.8 million barrels, U.S. crude oil inventories are about 5% below the five year average for this time of year. U.S. crude oil refinery inputs averaged 15.3 million barrels per day during the week ending
January 31, 2025, which was 159 thousand barrels per day more than the previous week’s average. Refineries operated at 84.5% of their operable capacity last week. Gasoline production decreased last week, averaging 9.2 million barrels per day. Distillate fuel production decreased
last week, averaging 4.6 million barrels per day. U.S. crude oil imports averaged 6.9 million barrels per day last week, increased by 467 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 million barrels per day, 2.8% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 593 thousand barrels per day, and distillate fuel imports averaged 159 thousand barrels per day. Total motor gasoline
inventories increased by 2.2 million barrels from last week and are slightly above the five year average for this time of year. Finished gasoline inventories decreased while blending
components inventories increased last week. Distillate fuel inventories decreased by 5.5 million barrels last week and are about 12% below the five year average for this time of year. Propane/propylene inventories decreased by 4.8 million barrels from last week and are 2% below the five year average for this time of year. Total commercial petroleum inventories decreased by 2.7 million barrels last week.
Total products supplied over the last four-week period averaged 20.6 million barrels a day, up by 3.3% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.3 million barrels a day, down by 0.2% from the same period last year. Distillate fuel
product supplied averaged 4.3 million barrels a day over the past four weeks, up by 13.7% from the same period last year. Jet fuel product supplied was up 4.6% compared with the same four week period last year

NN: As expected. The market is well supplied

United States President Donald Trump said on Wednesday that reports on his country and Israel wanting to “blow Iran into smithereens” are “greatly exaggerated,” noting that he would prefer to sign a Verified Nuclear Peace Agreement with the Middle Eastern country.

“I want Iran to be a great and successful Country, but one that cannot have a Nuclear Weapon,”

Trump said in a post on Truth Social, adding that the nuclear peace agreement will “let Iran peacefully grow and prosper” but that they should “start working on it immediately and have a big Middle East Celebration when it is signed and completed. Yesterday, the US president signed a maximum-pressure memorandum on Iran, claiming that it is “too close” to obtaining a nuclear weapon, which Iranian Foreign Minister Abbas Araghchi condemned, stating that his country’s position on nuclear arms is “quite clear” and that Trump’s bill will “lead to another failure.”

Crude oil inventories in the United States rose by 5.02 million barrels in the week ending January 31, the American Petroleum Institute’s (API) private data reportedly showed on Tuesday. Distillate inventories allegedly dropped by 6.98 million barrels, while gasoline stockpiles increased by 5.43 million barrels during the reported week. In the same period, reserves in Cushing, Oklahoma, were said to have jumped by 110,000 barrels. 

Nick note This is the API report we get the EIA report TODAY which is the more reliable one. We’re seeing as expected inventories build as refineries have finished making  heating oil and they’re shutting down to get ready for gasoline driving season. This is further proof, supplied inventories are increasing. Which means that as soon as we get the hissy fit tariffs on oil and Iran war  stories out of the market we will return Trump’s dream of a $35 barrel oil. The stars are aligning for this. Of course  the algo candlestick assholes will try to take the markets  in a different direction…. See that’s how they steal their money.

Oil prices took a sharp turn today as traders weighed President Trump’s latest “maximum pressure” push against Iran. Brent crude rose to $76.34 per barrel (+0.50%), while WTI’s loss from early in the day shrunk to just a 0.31% dropoff at $72.93 per barrel. While a quick glance at today’s oil prices could suggest traders aren’t convinced just yet that the Iran situation could have a profound effect, oil prices are indeed on the rise from their earlier downward trend—a rather quick turn, in fact.

Trump’s plan? Squeeze Iran’s oil exports down to zero—a bold move considering Iran still ships as much as 1.3 million barrels per day, mostly to China.

The White House’s playbook includes fresh sanctions, tighter enforcement, and rolling back existing waivers. Translation: If the administration makes good on these threats, global supply could tighten overnight. The last time Trump went all-in on Iranian sanctions, oil prices spiked north of $80. The market remembers. This time, with Middle East tensions already simmering and OPEC+ struggling to maintain discipline, the upside risk is real. Of course, oil traders are a cynical bunch. They’ve seen this movie before. Crude flows tend to find a way—whether through shady ship-to-ship transfers or creative bookkeeping in Beijing. But if Washington actually gets aggressive with enforcement (hello, secondary sanctions), even China’s appetite for cheap Iranian crude might take a hit. That’s when Brent could break out. For now, the market is playing it cool. But don’t be surprised if crude traders wake up tomorrow and suddenly decide that cutting off a key OPEC producer is, in fact, a big deal. Crude prices were trading down prior to the announcement after China responded to US tariffs on China. WTI was down nearly 3% earlier in the day, with Brent down almost 2%.

Nick Note: well we’ve been having rock and roll fun.  Let me explain what happened. We basically got the upward driver of the market on Friday. The announcement of tariffs hitting  Canadian  oil with a 10% fee. We got an immediate pop to $77.00 Brent…. Only to see the market drop to $74.00 when as expected the Canadian’s caved, We promptly told yo to take profits, If you followed or recoes and doubled up, You are a very happy camper. As we warned you the nest trade Play it  Again Sam came very quickly as the High Frequency Algo candle stick assholes got burned again. So hopefully we will guess lucky again.

Just two days after announcing sweeping sanctions of 25% on almost all Canadian imports as well as all Mexican imports, President Trump promised to pause the implementation of the levies for 30 days following urgent talks with the leaders of the two countries.

Oil markets reacted, with WTI dropping 3.3% and Brent falling 2.3%. Natural gas prices also fell significantly, shedding 5.2% in early trading.

The talks, according to a Reuters report, resulted in commitments by both Canada and Mexico to boost border controls, including deploying more personnel to stem the flow of migrants and stepping up drug traffic control measures. “As President, it is my responsibility to ensure the safety of ALL Americans, and I am doing just that. I am very pleased with this initial outcome,” Trump said, adding that he planned to negotiate new trade deals with both Canada and Mexico over the next 30 days. Canada is the biggest supplier of heavy crude to American refiners, exporting it at a rate of close to 4 million barrels daily, which makes it the biggest exporter of crude oil to the U.S. in general. Mexican crude oil exports north of the border are much smaller, at less than half a million barrels daily, but they still comprise the second-largest share of foreign oil in U.S. refiners’ mix. That fact may have played a role in Trump’s willingness to negotiate new trade deals quickly before the tariffs kick in and retaliation begins.

nn: IT AINT OVER