Author: BlackMask Financial

Yemen-based Houthis said on Tuesday that they carried out another attack on Israel using hypersonic ballistic missiles, the rebel group’s spokesperson Yahya Saree (pictured) said in a statement. Saree shared that the group targeted Ben Gurion Airport and a power plant in Jerusalem, claiming that “the two missiles successfully hit their targets. Additionally, he revealed that Houthi forces also struck the US aircraft carrier USS Harry S. Truman while the US forces “were preparing to launch a major air attack against” Yemen. In recent days, the Houthis have launched multiple attacks on Israel prompting senior Israeli officials to warn that Houthi leaders will become targets of Israeli forces, with Prime Minister Benjamin Netanyahu emphasizing that Israel is “just getting started with the Houthis”

Israeli forces have intercepted two Houthi missiles fired from Yemen, according to Israeli Army Radio.One of the projectiles was downed before it managed to enter Israeli airspace and the other after. The Magen David Adom ambulance service reported that two people were injured in the panic after the sirens sounded warning of the Houthi missile launch. One of the victims was hit by a car and lightly wounded while running to the bomb shelter, the ambulance service added that they were taken to Kaplan Medical Center.

Crude oil prices started the last week of 2024 with a modest gain in anticipation of the last economic reports for the year from China and the United States, but prices quickly reverted back to where they had started. Brent crude was trading at $74.00 per barrel at the time of writing, and West Texas Intermediate was changing hands for $70.42 per barrel, both only slightly down from Friday’s close. Both benchmarks are set to end the year pretty much where they started it, with Brent crude set for a more noticeable decline than WTI, with the difference roughly at $3 per barrel. Today’s weak price movement follows a week of gains for the benchmark on some new optimism about China and its oil demand prospects, despite two recent bearish forecasts from CNPC and Sinopec, which both expect oil demand to peak soon in the world’s biggest importer. This appears to be a consequence of the fact that despite China’s perceived demand weakness, the world has continued to consume growing volumes of crude oil. “Global oil consumption reached an all-time high in 2024 despite China underperforming expectations, and oil stockpiles are heading into next year at relatively low levels,” Ryan Fitzmaurice, senior commodity strategist at UK-based financial services provider Marex said “Going forward, China economic data is expected to improve as the recent stimulus measures take hold in 2025. Also, lower rates in the U.S. and elsewhere should be supportive of oil consumption,” Fitzmaurice added. Rapidan Energy, meanwhile, has warned that the supply risk in the Middle East has increased and might potentially lead to disruptions. “Phase one post-Oct. 7 was Gaza, and phase two was Hezbollah, neither of which threatened oil,” Rapidan’s president, Bob McNally, told Bloomberg, referring to Israel’s war with itsneighbors. “Now,  we are moving to the Houthis, who threatened Saudi Arabia.”

Sirens rang out across parts of Israel as a missile was launched from Yemen, according to the Israeli military. The strike follows Israel’s attacks on Yemen’s capital, Sanaa, including its international airport, and coastal cities. It also comes after Israel said it used the United States’ Terminal High Altitude Area Defense (THAAD) system for the first time to intercept a missile launched from Yemen.

The United States’ Terminal High Altitude Area Defense (THAAD) system was used in Israel for the first time, attempting to intercept a missile launched from Yemen. The THAAD system, deployed by the Biden administration in October, was stationed in Israel alongside approximately 100 US personnel to bolster Israel’s missile defenses amid escalating regional tensions. It remains unclear whether the system successfully neutralized the threat.

Israel Strikes Back HARD on the Houthis: 100 Jets

In a stunning move, Israel delivered a crushing blow to the Houthi rebel group after they launched yet another ballistic missile at Israel on Christmas Day. The Houthi leader, Abdul Malik Al-Houthi, bragged on live TV about Israel’s “failed deterrence,” but little did he know, Israel’s response was coming fast and furious.  Over 100 Israeli jets swooped down on Houthi-controlled targets in Yemen, including military infrastructure, power stations, and ports—crippling their ability to wage war against Israel.  The strategic strikes that sent shockwaves through the Houthi regime.

Weekly Petroleum Data for the week ending December 20, 2024

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.2 million barrels from the previous week. At 416.8 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 16.8 million barrels per day during the week ending December 20, 2024, which was 205 thousand barrels per day more than the previous week’s average. Refineries operated at 92.5% of their operable capacity last week. Gasoline production increased last week, averaging 9.9 million barrels per day. Distillate fuel production increased
last week, averaging 5.3 million barrels per day. U.S. crude oil imports averaged 6.5 million barrels per day last week, decreased by 178 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 million barrels per day, 2.2% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 657 thousand barrels per day, and distillate fuel imports averaged 180 thousand barrels per day.. Total motor gasoline inventories increased by 1.6 million barrels from last week and are about 3% below the five year average for this time of year. Both finished gasoline and blending components inventories
increased last week. Distillate fuel inventories decreased by 1.7 million barrels last week and are about 10% below the five year average for this time of year. Propane/propylene inventories decreased by 4.5 million barrels from last week and are 9% above the five year average for this time of year. Total commercial petroleum inventories decreased by 12.7 million barrels last week. Total products supplied over the last four-week period averaged 20.7 million barrels a day, down by 0.1% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.9 million barrels a day, up by 0.7% from the same period last year. Distillate fuel product supplied averaged 3.9 million barrels a day over the past four weeks, up by 1.7% from, the same period last year. Jet fuel product supplied was up 6.5% compared with the same four-week period last year

Israeli Prime Minister Benjamin Netanyahu in an interview with Channel 14 on Thursday warned that Israel was “just getting started with the Houthis” after his country launched a series of airstrikes targeting the Yemen-based militant group. “We won’t allow them [to attack Israel] these days, today and any other day. We will strike them to the bitter end until they learn. As I said, Hamas learned, Hezbollah learned, and Syria learned. The Houthis will learn too,” stated Netanyahu. Speaking about a potential ceasefire and hostage deal with Hamas, Netanyahu criticized recent comments from unnamed officials that the agreement could have already been reached, calling them “lies.”

Israel Defense Forces (IDF) Chief of the General Staff Lieutenant General Herzi Halevi claimed  that the most recent strikes in Yemen show that the military is capable of reaching “any threat.” The remarks come hours after the Israel Defense Forces (IDF) attacked Houthi-controlled areas in that country amid a visit by a United Nations delegation. “Once again, the IDF has proven its capability to reach and strike any threat to the citizens of Israel. Over the years, we have built capabilities to strike very far from Israel’s territory in a precise, powerful, and repeated manner,” Halevi was quoted as saying by the Times of Israel.

Russia’s Deputy Foreign Minister Sergey Ryabkov stated on Friday that the country is evaluating all possible measures regarding the resumption of nuclear tests.Speaking to Kommersant, Ryabkov criticized US policies, particularly past stances by US President-elect Donald Trump, highlighting Washington’s refusal to ratify the Comprehensive Nuclear-Test-Ban Treaty. Ryabkov cited the 2018 US nuclear doctrine, which framed the treaty as detrimental to American interests. He argued that the global landscape and American hostility require Russia to review its security strategy.

Russian President Vladimir Putin told journalists on Thursday his country is seeking to end the war in Ukraine. Putin made his comment in reply to a reporter’s remark about United States President-elect Donald Trump’s intention to freeze the conflict. “That’s what our people say, yes, if only you could drink honey with your lips,” Putin noted. At the same time, Putin revealed that during his recent visit to Moscow Slovakia’s Prime Minister Robert Fico said his country was ready to provide a venue for potential future peace negotiations between Ukraine and Russia, adding that he was not against it.

Israel Defense Forces (IDF) Chief of the General Staff Lieutenant General Herzi Halevi claimed on Thursday that the most recent strikes in Yemen show that the military is capable of reaching “any threat.” The remarks come hours after the Israel Defense Forces (IDF) attacked Houthi-controlled areas in that country amid a visit by a United Nations delegation. “Once again, the IDF has proven its capability to reach and strike any threat to the citizens of Israel. Over the years, we have built capabilities to strike very far from Israel’s territory in a precise, powerful, and repeated manner,” Halevi was quoted as saying by the Times of Israel. Four people lost their lives and 16 were wounded in a series of Israeli airstrikes on Houthi-controlled areas in Yemen, according to the Houthi-affiliated Al-Masirah news channel. Israeli airstrikes on the Sanaa International Airport in the Yemeni capital caused the deaths of two people while the third victim was killed and another three persons were declared missing when Israeli forces struck the port city of Hodeidah in western Yemen. Earlier, the Israel Defense Forces (IDF) confirmed the airstrikes on Yemen and Prime Minister Benjamin Netanyahu vowed Israel would continue to strike Houthis, who he referred to as a “terrorist arms of Iran.”

Israeli Prime Minister Benjamin Netanyahu on Wednesday warned that Houthis “will learn what Hamas, Hezbollah, the Assad regime, and others have learned,” following a series of ballistic missile and drone attacks launched on Israel from Yemen. The Israel Defense Forces (IDF) carried out airstrikes targeting ports and energy facilities in the Yemeni capital Sana on December 19. In addition, an Israeli general said his country will step up attacks against the militant group in retaliation for their attacks on Israel.