Russian Foreign Ministry spokesperson Maria Zakharova said Ukraine’s proposed security guarantees would pose a threat to Europe. Speaking at the Eastern Economic Forum, Zakharova argued the plans are designed to keep Ukraine as a base for actions against Russia. She rejected any discussion of foreign troop deployments to Ukraine, calling such moves “fundamentally unacceptable.” Zakharova said Russia will not consider “foreign interference in Ukraine” in any form or format. “They are not guarantees of Ukraine’s security, they are guarantees of danger to the European continent,” the spokeswoman said.
US military kills 11 people in strike on alleged drug boat from Venezuela, Trump says
United States President Donald Trump said on Truth Social that US forces killed 11 “terrorist” members of the Tren de Aragua in a “kinetic strike” at sea. He said they were in international waters transporting illegal narcotics toward the United States and that no US forces were injured. “Please let this serve as notice to anybody even thinking about bringing drugs into the United States of America. BEWARE,” Trump warned.Trump first revealed the strike during a White House event earlier in the day and later posted video of the attack. Secretary of State Marco Rubio said the drug vessel operated by the group, which the US designates as a foreign terrorist organization, had left Venezuela before being targeted in the southern Caribbean.
Putin: Russia advancing on all fronts in Ukraine
Russian President Vladimir Putin noted that Russian forces were advancing on all fronts in Ukraine, while saying that the latter lacked the military reserves necessary to launch a large-scale offensive. The Russian leader added that he was confident that it was possible to agree on a solution to end the conflict in Ukraine that is “acceptable to everyone.” He went on to say that although he sees “light at the end of the tunnel” for the conflict, Russia was also prepared to use armed force to accomplish its objectives. “If common sense prevails, a peaceful settlement is possible given the current US administration’s calls for solutions. Otherwise, the conflict will have to be resolved militarily,” he added during a press conference in Beijing.
OPEC announced cuts of 547,000 barrels per day in September
Oil dips 2% as OPEC+ eyes another output hike.
Commodities Analyst at Skandinaviska Enskilda Banken Ole R. Hvalbye, AB (SEB), and Bjarne Schieldrop, Chief Commodities Analyst at SEB, said in an oil report published on Tuesday. “Oil prices are likely to fall for a fourth straight year as OPEC+ unwinds cuts and retakes market share,” the analysts said in the report. “We expect Brent crude to average $55 per barrel in Q4/25 before OPEC+ steps in to stabilize the market into 2026,” they added. “Surplus, stock building, oil prices are under pressure with OPEC+ calling the shots as to how rough it wants to play it,” they went on to state. The SEB analysts noted in the report that OPEC+ is in a process of unwinding voluntary cuts by a sub-group of the members and taking back market share but added that the process looks set to be different from 2014-16, “as the group doesn’t look likely to blindly lift production to take back market share”. “The group has stated very explicitly that it can just as well cut production as increase it ahead,” Hvalbye and Schieldrop pointed out in the report. “While the oil price is unlikely to drop as violently and lasting as in 2014-16, it will likely fall further before the group steps in with fresh cuts to stabilize the price,” they warned. “We expect Brent to fall to $55 per barrel in Q4/25 before the group steps in with fresh cuts at the end of the year,” they continued.
Financial Markets Strategist at Exness, Van Ha Trinh, said, “the increase in OPEC output during September has reinforced concerns about oversupply”. “While a potential pause in production hikes after that could provide some short-term relief, traders are likely to remain cautious until there is clearer guidance from the next OPEC meeting,” Trinh added. “The market’s direction could depend on whether the group signals restraint in the coming months or prioritizes market share, as either direction could set the tone for Q4 pricing,” Trinh went on to state.
Kudotrade’s Head of Customer Relationship Management Chrysikos, on Thursday, “OPEC+ output continues to rise, with further increases expected in September” and highlighted that “traders could monitor OPEC’s next meeting for an update on the organization’s production targets and their impact on supply”. “A pause could provide the market with some support,” Chrysikos noted in the analysis.
SEB team last week, Schieldrop said there is an increasing risk that OPEC+ will unwind the last 1.65 million barrels per day of cuts when they meet on September 7. In the report, Schieldrop outlined that the oil market “shows pockets of strength blinking here and there” and warned that “this clearly increases the chance that OPEC+ decides to unwind the remaining 1.65 million barrels per day of voluntary cuts when they meet on 7 September to discuss production in October”. Schieldrop added in the report, however, that the group may split the unwind over two or three months. “After that the group can start again with a clean slate and discuss OPEC+ wide cuts rather than voluntary cuts by a sub-group,” Shieldrop said in the report. “That paves the way for OPEC+ wide cuts into Q1-26 where a large surplus is projected unless the group kicks in with cuts,” he added.
A statement posted on OPEC’s website on August 3
Announced that Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman “will implement a production adjustment of 547,000 barrels per day in September”. “In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with the decision agreed upon on 5 December 2024 to start a gradual and flexible return of the 2.2 million barrels per day voluntary adjustments starting from 1 April 2025, the eight participating countries will implement a production adjustment of 547,000 barrels per day in September 2025 from August 2025 required production level,” the statement added.
“This is equivalent to four monthly increments … The phase-out of the additional voluntary production adjustments may be paused or reversed subject to evolving market conditions. This flexibility will allow the group to continue to support oil market stability,” it continued. The eight countries are next scheduled to meet on September 7, the statement revealed.
Table accompanying that statement
September “required production” is 9.978 million barrels per day for Saudi Arabia, 9.449 million barrels per day for Russia, 4.220 million barrels per day for Iraq, 3.375 million barrels per day for the United Arab Emirates, 2.548 million barrels per day for Kuwait, 1.550 million barrels per day for Kazakhstan, 959,000 barrels per day for Algeria, and 801,000 barrels per day for Oman.
NN: Welcome to the game of giant steps. $65 August 13th.Then $68 August 20th. Then $69,40 yesterday. Now down $1.40 at $67.60. Still up almost $3.00 from the 13th of August.
As far as the surprise OPEC production cuts. They were announced a month ago…. Already the news was in the market. The games they play!
Trump ‘disappointed’ in Putin, downplays China-Russia axis…….Trump says Xi, Putin, Kim conspiring against US
United States President Donald Trump said on Tuesday he was “very disappointed” in Russian President Vladimir Putin, speaking on The Scott Jennings Radio Show. I’m very disappointed in him. Thousands of people are dying, both Russians and Ukrainians,” Trump commented. Additionally, during the show, he was asked about the most recent meeting between Russian President Vladimir Putin and his Chinese counterpart, Xi Jinping. Trump dismissed concerns about a tightening alignment between China and Russia, saying he was not worried about an “axis” forming against the United States.
Trump says Xi, Putin, Kim conspiring against US
United States President Donald Trump accused Chinese President Xi Jinping, Russian President Vladimir Putin and North Korean leader Kim Jong-un in a social media post of acting in concert against Washington. He opened with a gesture of respect toward Xi, urging the Chinese leader to honor Americans who died aiding China against a “very unfriendly foreign invader” and calling for them to be “Remembered for their Bravery and Sacrifice.” The tone abruptly shifted when Trump sarcastically asked the Chinese leader to give his “warmest regards” to Putin and Kim, accusing the trio of plotting to “conspire against The United States of America.” Trump’s comments come just as a massive military parade kicked off in Beijing to mark the 80th anniversary of the end of World War II, hosting 26 heads of state, including Putin and Kim.
NN: This is a ugly turn of events. Trump has blow it big time, Last week Putin was Trump’s hand shake red Carpet BFF. This week Putin is standing on a even bigger red carpet in China holding hands and hugging his new BFF’S. Who I might add could not give a rats ass about US sanctions on Russia. In fact India and China in defiance of sanctions by all the oil Russia produces:
Trump says Xi, Putin, Kim conspiring against US
Their is no more pressure to make a peace deal in the Ukraine invasion. Their goes Trumps chance for one of those high explosives inventors golden peace prize
Putin: Russia not intending to attack anyone….. He is right he intends to attack everyone
Russian President Vladimir Putin insisted on Tuesday in a meeting with Slovak Prime Minister Robert Fico that his country is “not intending to attack anyone” and that “any sane person is aware” of that. Speaking with Fico in Beijing, Putin dismissed the claims that Moscow is planning to “attack Europe” as a “provocation,” and baseless and “complete nonsense.” He also labeled those spreading such stories as “specialists in fairy tales and horror films.” The leader also accused the West of “facilitating” what he described as the “coup d’etat” in Ukraine and thus provoking a conflict in that country. Commenting on his recent meeting with United States President Donald Trump on finding a solution for the crisis in Ukraine, Putin noted that his counterpart from Washington “listens to Russia.” He also urged the continuation of constructive dialogue with the US.
NN: On Oct 27, 2016 Russian President, Vladimir Putin says Russia is not going to attack anyone while addressing claims they are planning to invade the Ukraine the FIRST time.
Oil up by 1.5% amid fights in Middle East, Ukraine
The prices of oil futures increased on Tuesday as the fighting in Ukraine and Gaza continued, raising further doubts about exploiting the commodity from Russia and the Middle East. Meanwhile, investors awaited the fresh data on the United States’ stocks from the American Petroleum Institute (API). West Texas Intermediate (WTI) for October’s settlements rose by 1.56% at 5:02 am ET to $65.73 per barrel. Brent for deliveries in November grew by 1.50% to $69.20 per barrel.
Bessent: Russia sanctions under close review this week
US Treasury Secretary Bessent said Monday that the administration will be closely examining possible penalties on Russia this week, following Russian President Vladimir Putin’s continuous attacks on Ukraine despite recent peace negotiations. “I think with President Trump, all options are on the table, and I think we’ll be examining those very closely this week,” Bessent added during an exclusive interview with Fox News. He claimed that Putin “has done the opposite” of what he said he wanted to do during his meetings with US President Donald Trump in Anchorage. “As a matter of fact, he has, in a despicable, despicable manner, increased the bombing campaign,” he stated.
NN: Hell has no fury like a Trump scorned
Modi Hugs Putin and Hails Russia Ties in Defiance of a Jilted Trump
- Prime Minister Narendra Modi declared India and Russia share a “special” relationship, standing by each other in difficult times.
- Modi said India and Russia have a special and privileged partnership, and that India “eagerly” awaits Putin’s visit later this year.
- The meeting between Modi and Putin comes at a time when their relationship is under global scrutiny, with US President Donald Trump criticizing India for buying oil from Russia.
Prime Minister Narendra Modi declared India and Russia share a “special” relationship, standing by each other in difficult times, in a defiant show of ties as Washington criticizes New Delhi over oil purchases. Modi used his opening remarks at a bilateral meeting with Russian President Vladimir Putin in China to signal that New Delhi’s ties with Moscow remain firm despite relentless pressure from the Trump administration. In an unusual move, the two leaders rode together in Putin’s car to the meeting venue, spending about an hour conversing in the limo, according to people familiar with the matter, who asked not to be identified to discuss private matters. It was an unscripted detour from their carefully planned schedule, the people added. Earlier in the day, the two leaders shared a warm embrace, with Modi calling their meeting “a delight.”
“India and Russia have a special and privileged partnership. In the most difficult and testing times, India and Russia have always stood by each other,” Modi said in opening remarks on Monday. He added that India “eagerly” awaits Putin’s visit later this year.
The Modi-Putin meeting comes at a time when their relationship is under global scrutiny. US President Donald Trump has publicly lambasted India for buying oil from Russia, accusing New Delhi of funding Putin’s war in Ukraine. Last week, the Trump administration imposed 50% tariffs on Indian goods bound for the US — the highest in Asia — to penalize it for those energy purchases. New Delhi has defended its ties with Moscow, calling Trump’s actions “unfair,” and has given no sign it will scale back purchases. In a column in The Hindu newspaper on Monday, Oil Minister Hardeep Puri said that India had not “broken rules” and that its purchases helped to shield the global economy from a price spike. Amid souring ties with the US, Modi used his visit to the Shanghai Cooperation Organisation summit to mend relations with Beijing while reaffirming India’s deep partnership with Moscow. In another post on X, Modi said he and Putin talked about “ways to deepen bilateral cooperation in all sectors, including trade, fertilizers, space, security and culture.” The war in Ukraine was also discussed, he added.
Modi
Modi spoke with Ukraine’s President Volodymyr Zelenskiy ahead of his trip to China, reiterating his call for peace. Zelenskiy said India was ready to “deliver the appropriate signal to Russia and other leaders” during Modi’s meetings in Tianjin. Modi last spoke with Putin after the Russian leader’s summit with Trump in Alaska to seek a peace deal. Modi also met Chinese President Xi Jinping at the summit, their first talks since Trump’s return to power. In the closely watched meeting, the two leaders pledged to be partners rather than rivals and announced steps to rebuild ties, including the resumption of direct flights between the two countries.
NN: BlackMask Market News and Commentary new file has been posted Title: Trump Jilted Again
Ukraine conflict stokes oil supply fears as well it should
Crude oil prices increased by more than 1% on Monday as investors’ fears of supply disruptions grew amid intensifying attacks between Ukraine and Russia. Ukrainian President Volodymyr Zelensky announced yesterday that his country was preparing new “deep” strikes against Russia, while German Chancellor Friedrich Merz stated he is bracing for a “long war” in Ukraine as a potential bilateral meeting between Russian President Vladimir Putin and Zelensky grows more unlikely. West Texas Intermediate (WTI) for October’s settlements climbed by 1.14% at 5:47 am ET to go for $64.72 per barrel. Meanwhile, Brent for deliveries in November advanced by 1.07% at 5:48 am ET, going for $68.16 per barrel.
NN: I am adamant that Trump has really blown it big time. This negotiation with Vladimir is going no where. Putin is not going to make a REAL peace deal. He has come to the table as a stalling tactic. He’s make a fool out of Trump. The oil price dropped when traders believed their would be peace in the valley. The market had a organism as the band played and the big red carpet was rolled for Putin and the bromance handshake was beamed live around the world. As the meeting wore on I laughed my ass off and bought oil with both hands. Soon Trump and his advisers will realize they have been hoodwinked. And a very pissed off embarrassed Trump will slap serious sanctions on exports of Russian oil. There’s going to be no oil out of Russia they’re going to cut off Putin’s money flow. The war is going to escalate as China and North Korea support Russia. And this war is going to drag a sleeping Europe into the fray. Putin has stepped up its attacks on Ukraine’s major cities especially Kyiv. On the other hand Ukraine is targeting Russian oil infrastructure, Putin sees a victory he believes he can conquer all of Ukraine. it won’t take him much longer if the stupid Europeans and Americans do not supply boots on the ground. Russia doesn’t want peace Putin wants War. He sees Russia as the king of the north. He wants to rule Europe and I got to tell you he’s got a shot at it. So in the meantime the oil market is going to come unglued prices are going higher and higher and higher. And we’re going to break out to the other side of $100 oil. The way you make real money is perceiving opportunity and value when other people don’t. And waiting them out!