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The United States Navy successfully intercepted 24 Houthi missiles and drones launched from Yemen over the Red Sea, CNN reported, citing two US defense officials. The defense operation involved three destroyers as part of Operation Prosperity Guardian, a multinational effort comprising over 20 countries aimed at safeguarding shipping in the Red Sea. While details remain …

Continue reading “US shoots down 24 Houthi projectiles… translation Iranian supplied rockets and drones….. Ministry: UK, US ships repel Houthi attack”

Crude oil inventories in the United States fell this week by 5.215 million barrels for the week ending January 5, according to The American Petroleum Institute (API), after analysts predicted a draw of 1.2 million barrels. The API reported a 7.418-million-barrel draw in crude inventories in the week prior. On Tuesday, the Department of Energy …

Continue reading “API Reports Decrease in U.S. Crude Supplies…. Big Increase In Distillates”

Hedge funds and other portfolio managers ended the last week of 2023 with the most new bearish positions in futures and options contracts since March and the second-largest jump in weekly short additions since 2017. Money managers added some 61,000 short positions in Brent Crude and WTI Crude combined in the week to January 2, …

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Tensions are escalating on the Israeli border with Lebanon after an Israeli strike on Monday that resulted in the death of a senior Hezbollah commander and another Hezbollah fighter in southern Lebanon.  Monday’s attack follows the assassination in Lebanon last week of deputy Hamas leader Saleh Al Arouri in another Israeli strike.  Unnamed sources confirmed …

Continue reading “Israeli Strike Killing Key Hezbollah Figure Risks Escalation……. Hezbollah hits Israeli Northern Command HQ with drone”

Houthi rebels have attacked commercial shipping more than 20 times since November, using various methods. Major shipping companies like Maersk and Hapag Lloyd are avoiding Red Sea and Suez Canal routes due to security concerns.  Operation Prosperity Guardian was initiated by the U.S. to protect commercial traffic, with support from other countries like the UK, …

Continue reading “Goldman: Oil Prices Could Double if (when) Houthi Attacks”

Prices of oil futures extended their losses on Monday, with the West Texas Intermediate (WTI) plunging more than 3%. Earlier, petroleum and natural gas company Saudi Aramco announced that it decided to reduce crude prices for all regions due to lower global crude oil prices and increased production in non-OPEC countries. WTI for deliveries in …

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Shipping giant Maersk said Friday that it would divert all vessels around Africa instead of using the Red Sea and Suez Canal for the “foreseeable future” after Yemeni rebels attacked its merchant ships. The Danish company cited the highly volatile situation and noted that the security risk remains high. “We have therefore decided that all …

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he United States and 12 allies issued a final warning  (ha ha ha) on Wednesday, asking them to cease their attacks on vessels in the Red Sea or face targeted military action, as reported by news agency AP. The Houthi rebels have carried out at least 23 attacks in response to the Israel-Hamas war in …

Continue reading “US, Allies Warn Houthi Rebels Of “Consequences” If Ship Attacks Continue”

Iranian President Ebrahim Raisi said on Friday that the end of Hamas’ operation in Gaza will mean the end of Israel. Addressing the people participating at the funeral of a terrorist attack in the city of Kerman carried out by the Islamic State on January 3, Raisi claimed that “the Palestinian people and the resistance …

Continue reading “Iran’s Raisi says Hamas action in Gaza to lead to Israel’s end”

Hamas Deputy Chief Saleh al-Arouri was killed in Beirut, Lebanon’s capital, in an attack by Israeli forces, the militant group’s security officials said Tuesday. Earlier, local Lebanese media reported the attack that rocked the streets of the Dahyeh district in southern Beirut and a well-known Hezbollah stronghold. Saleh al-Arouri, a founding member of Hamas’ military …

Continue reading “Hamas says senior official killed in Israeli attack in Lebanon”