Author: BlackMask Financial

The Israel Defense Forces (IDF) ordered all the civilians currently located at the Al-Shifa Medical Complex in Gaza City to evacuate to avoid going through an air attack, Al Jazeera reported on Thursday. The outlet added that, given the bombing tactics implemented in the hospital and nearby zones, the IDF is seeking to demolish the center completely.Meanwhile, the IDF added it killed more than 140 members of Hamas who were hiding at the hospital. It also claimed it found caches of weapons and different military equipment there.

Israel claims it seized $3M in Al-Shifa hospital raids

The Israeli Defense Forces (IDF) announced on Wednesday that it has confiscated cash amounting to $3 million in United States dollars and Jordanian dinars during their operations at Al-Shifa Hospital in Gaza City.The army mentioned that it had successfully evacuated approximately 3,700 Palestinian civilians from the hospital, who were then transported to southern Gaza. During the operation, a total of 300 suspects were apprehended, including senior Hamas and Islamic Jihad commanders. Earlier reports indicated that Israel has rejected the latest ceasefire proposal put forward by Hamas. Furthermore, a representative from Hamas stated yesterday that the IDF’s raids on the medical facility have disrupted ongoing peace negotiations. NN: Things are heating up. I expect  things to get really bloody and then a peace  deal will come. You can expect some wild swings in oil.

The Israel Defense Forces (IDF) stated on Wednesday its troops killed about 90 members of Hamas who were allegedly using Al- Hospital in Gaza City as their shelter. “Over the past day, the troops have eliminated terrorists and located weapons in the hospital area, while preventing harm to civilians, patients, medical teams, and medical equipment,” the IDF claimed in its statement. The IDF added that the Military Intelligence Directorate and the Shin Bet interrogated more than 300 people found at the hospital and took more than 160 to Israel for further questioning. Meanwhile, Hamas’s Ismail Haniyeh urged Israel to abandon the hospital, saying its actions are damaging the prospects of a new ceasefire.

Crude oil inventories in the United States fell this week by 1.519 million barrels for the week ending March 15, according to The American Petroleum Institute (API), after analysts had predicted a 77,000 barrel build. The API reported a large 5.521-million-barrel rise in crude inventories in the week prior. On Tuesday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 0.7 million barrels as of March 8. Inventories are now at 362.3 million barrels.Oil prices were up ahead of the API data release on Tuesday as the market continues to digest and assess Ukraine’s attacks on Russian refineries. Gasoline inventories also fell this week. Gasoline inventories fell 1.574 million barrels, after falling by 3.750 million barrels in the week prior. As of last week, gasoline inventories were about 3% below the five-year average for this time of year, according to the latest EIA data.Distillate inventories rose this week, by 512,000 barrels, after last week’s 1.162 million barrel drop. Distillates were already 7% below the five-year average for the week ending March 8, the latest EIA data shows.Cushing inventories also rose this week, gaining 325,000 barrels after falling by 998,000 barrels in the previous week. NN: The data point are very confusing. Which is why you seeing these kinds of moves.

Hamas’ senior political leader, Ismail Haniyeh (pictured), accused Israel of disrupting the peace talks following their attack on Al-Shifa, the largest hospital in Gaza.”The deliberate targeting of police officers and government officials in Gaza illustrates their efforts to sow chaos and perpetuate violence among our resilient people. This also reveals the occupation leaders’ endeavor to sabotage ongoing negotiations in Doha,” he posted on Telegram on Tuesday.The Israeli Defense Forces previously claimed that they had apprehended more than 300 individuals with connections to Hamas. Negotiations for a ceasefire in Gaza and the release of hostages were underway in Doha, Qatar indicated that a counter-proposal could be presented to Hamas in the near future. NN:  Its about the famine and the threatened invasion.

Crude oil prices were set for a weekly gain of about 4% after the International Energy Agency became the latest forecaster to suggest oil demand might turn out to be stronger than previously expected this year. The IEA said Thursday that it now expects oil demand this year to grow by 1.3 million bpd, up from 1.2 million bpd last month. The agency cited maritime transport disruptions due to the Houthi attacks in the Red Sea that are adding demand for fuel. The IEA also revised its supply forecast, but downwards. It now expects additional supply this year at 800,000 bpd. As a result, the forecast, which last month said the oil market would be in surplus, now says it will face a deficit later in the year.  The agency noted, however, that lukewarm economic growth would continue to act as a headwind for prices even as other agencies such as the IMF revised their global GDP growth outlook upwards. A series of fresh drone attacks by Ukraine on Russian refineries also contributed to the price rally this week, especially after the energy ministry said these attacks had led to a 1.5% decline in fuel exports in February. There were drone attacks on refineries in Russia last month as well. The latest weekly inventory figures from the United States were also bullish for prices, featuring sizeable drawdowns in fuel inventories that suggested stronger demand. As a result of the rally, which brought Brent crude to over $85 per barrel on Thursday, traders started taking profits, eventually bringing prices lower. Even so, the international benchmark was trading above $85 per barrel in midmorning trade in Asia today. NN: No i have not been sleeping. This is a complicated market with  incredible volume of AI fake news. Remember today is option roll over. So the gang is making sure their options expire in the money. I am putting together for a the longest trade recommendation i have ever written.

OPEC repeated it expected global oil demand to expand by 2.25 million barrels daily this year. The forecast was accompanied by a prediction of stronger than previously expected economic growth. “While some downside risks persist, a continuation of the expected momentum from the beginning of the year could result in additional upside potential for global economic growth in 2024,” OPEC said. There also appears to be a strong belief that the Fed will start cutting rates in the summer even though the central bank has not given any indications about that, still wary about inflation figures. These rose 0.4% in February from 0.3% in January but analysts seem firm in their perception that inflation is in fact slowing down. At the same time, the American Petroleum Institute reported inventory draws in both crude oil and fuels, which also helped push prices higher and supported OPEC’s view on oil demand. The Energy Information Administration is reporting inventory figures later today. If it also reports a draw, it would be the first one after seven consecutive weeks of builds, Bloomberg noted in a report. On the other hand, the Energy Information Administration said in its latest Short-Term Energy Outlook that U.S. oil production could grow more than previously expected this year, suggesting headwinds for prices in the form of non-OPEC production growth remain very much in place. Bearish factors can be found in OPEC, too, with Iraq once again exceeding its production quotas—for the second month in a row in February.NN: Oil for now is ignoring demand destructin.