United States President Donald Trump said on Tuesday that Iran has become “much more aggressive” in the negotiations regarding its nuclear program. “Iran is acting much differently in negotiations than it did just days ago. Much more aggressive. It’s surprising to me. It’s disappointing, but we are set to meet again tomorrow – we’ll see,” Trump told Fox News. Earlier today, Iranian lawmakers stated that they believe the US is “not serious” in the nuclear talks and claimed that the US and Israel are planning to use the negotiations to set a “strategic trap” for Iran.
Oil Prices Could Sink Below $50 This Year says S&P Global
- Analysts from S&P Global and others predict crude oil prices may drop below $50 per barrel due to weak demand growth, the slowest since the pandemic.
- Despite the bearish fundamentals, prices are currently rising on optimism over U.S.–China trade negotiations and potential easing of export controls.
- China’s restrictions on rare earth exports and ongoing talks about reversing them have added volatility to markets and concern in global industries.
Crude oil prices could decline below $50 a barrel this year, according to analysts from outlets including S&P Global. This will give American drivers much needed relief at the pump after years of gas price inflation. One reason for the hypothetical decline is what is widely seen as weakening demand growth. The IEA recently estimated this growth at below 1 million bpd this year, the weakest since the pandemic lockdown period. Supply, on the other hand is, growing, notably from OPEC+, which earlier this year decided to start bringing back production after two years of cuts.
Yet prices right now are on the rise, with the drivers coming from the world of geopolitics. The United States and China are negotiating a trade deal and there are reasons for optimism, which is driving the benchmarks higher in anticipation of a return to normal trade relations between the world’s two largest economies.
The latest update from the negotiating table had a U.S. government official tell media that President Trump could ease chip export restrictions in exchange for China loosening its own new restrictions on rare earth exports amid rising panic in the carmaking sector about a looming shortage of essential components. The chief of the White House National Economic Council Kevin Hassett said he expected the two sides to reach a deal on the issue during their talks in London, so Chinese rare earth magnets could return to international markets at normal volumes. “Our expectation is that … immediately after the handshake, any export controls from the U.S. will be eased,” Hassett told CNBC. China restricted rare earth exports in April, threatening a wide range of industries that use components featuring the elements with massive shortages, with carmakers warning they may have to start idling factories in a matter of weeks.
NN: obviously the algo Moroni’s and candle stick assholes are in trouble because they piled all in short at the $58 brent april low. this $9.00 rally is wiping out many oil trading firms. That is why you are seeing the fake news about the non existing demand destrction. and predictions of a $30 drop
Iran threatens to strike Israeli nuclear sites if attacked….. Grossi: Iran to pursue a nuclear weapon if struck
Iran’s Supreme National Security Council issued a statement Monday threatening to target Israel’s “hidden nuclear facilities” in case of an Israeli attack. On Sunday, Tehran announced it gained access to highly sensitive Israeli classified material, including information about the country’s presumed nuclear capabilities. The council described the operation as a “great intelligence achievement” and a result of Iran’s efforts to identify the weaknesses and strengths of the Israeli regime. The claimed security breach would enable Iran to “immediately retaliate” against nuclear sites and “against economic and military infrastructure” in Israel if the latter country targets sites related to Tehran’s nuclear program. Iran’s potential response would be “precisely proportionate to the type of aggression,” the statement stressed. Meanwhile, United States President Donald Trump and Israeli Prime Minister Benjamin Netanyahu were expected to hold a phone call about Iran nuclear talks.
Grossi: Iran to pursue a nuclear weapon if struck
International Atomic Energy Agency (IAEA) Director General Rafael Grossi told Jerusalem Post on Monday that an Israeli strike against Iran would cause it to “pursue a nuclear weapon or withdraw from the Treaty on the Non-Proliferation of Nuclear Weapons.” NB: the are already pursing nuclear weapons “I’m telling you this because they have told me so directly,” he explained. Speaking about the possibility of targeting Iranian nuclear facilities if the talks with the United States fail, Grossi stated the Israeli government “will decide what is best.” In addition, he noted that Iranian nuclear sites are well-protected, adding that “disrupting them would require overwhelming and devastating force.” Earlier today, Iran vowed it would retaliate by striking Israel’s “hidden nuclear facilities” in response to potential Israeli action, declaring it obtained thousands of secret documents containing information about that country’s strategic nuclear sites.
NN they shot 300 of their best missiles at Israel and they did not hit sqat. Israel retaliated and tore them a new asshole. which they still have not recovered from. there air defenses are still out of action.
Russia to build eight nuclear reactors in Iran
Ebrahim Rezaei, spokesman for the Iranian parliament’s National Security and Foreign Policy Committee, said on Monday that Russia will build eight nuclear power plants in Iran under an existing bilateral agreement. Rezaei added that four reactors will be located in the southern port city of Bushehr. The announcement came as Rezaei quoted Atomic Energy Organization chief Mohammad Eslami, who confirmed the project’s scope. Eslami also updated lawmakers on the progress of units 2 and 3 at the Bushehr Nuclear Power Plant, highlighting that both are being built exclusively by Iranian firms. The project builds on a longstanding partnership between Iran and Russia in the nuclear sector, anchored by the original Bushehr unit, which became operational with Russian assistance in 2011.
nn: one of the three top oil producers in the world needs 10 nuclear reactors…. yeah right
Netanyahu said to hold security meeting after call with Trump
Israeli Prime Minister Benjamin Netanyahu will hold a meeting of the country’s security cabinet later today after his phone call with United States President Donald Trump, Israel’s Channel 12 reported Monday. Although there is no official confirmation of the call between Netanyahu and Trump, the two leaders are expected to focus on the Iran nuclear talks. Israel was said to have previously promised to refrain from a military solution against Iran unless Tehran’s negotiations with Washington failed to result in an agreement. Iran is expected to soon deliver its response to the latest US offer, while also emphasizing the country was not ready to give up pursuing a peace-time nuclear program. Although reports indicated the US proposal would allow Iran to maintain low-level nuclear enrichment, President Donald Trump publicly opposed allowing Tehran to enrich uranium.
Oil Up 4% in Week Algos to Drop Short Bets…… Grossi: IAEA can’t ensure Iran program ‘peaceful’
Oil rose as stronger-than-expected US jobs data eased concerns about an economic slowdown that would crimp demand, spurring algorithmic traders to reduce short positions. West Texas Intermediate climbed almost 2% to settle above $64 a barrel, notching the largest weekly gain since November. Crude followed equities higher after US job growth in May narrowly surpassed economist forecasts, allaying concerns of near-term demand deterioration. The figures also pushed economy-sensitive diesel futures to a two-week high. “Trading is relatively quiet today, with macroeconomic factors continuing to drive the narrative,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Group. “The unemployment data is easing concerns that demand will sharply decline due to tariff uncertainty.” The positive economic data spurred commodity trading advisers to ease off of their bearish tilt. The funds, which can accelerate price momentum, liquidated short positions to sit at negative 9% short in WTI on Friday, compared with 64% short on June 5, according to data from Bridgeton Research Group. The rally was supported by enduring risk-on sentiment from optimistic signs on trade talks between the US and China, the world’s largest importer of crude. President Donald Trump and his Chinese counterpart, Xi Jinping, agreed to further negotiations over tariffs and supplies of rare earth minerals. The positive signals come against the backdrop of an oil market that has been increasingly rangebound in recent weeks. Prices have traded in a $5 band since the middle of May, and a gauge of volatility for US crude futures is at the lowest since early April. Oil has been buffeted in Trump’s second term as trade tensions between the world’s two largest economies menace demand. At the same time, the OPEC+ alliance has been adding barrels back to the market at a faster-than-expected rate, further clouding an already weak outlook for the second half of the year. The number of oil rigs in the US, meanwhile, plummeted to the lowest in about four years as shale explorers anticipate weakening global oil demand.
Grossi: IAEA can’t ensure Iran program ‘peaceful’
International Atomic Energy Agency (IAEA) Director General Rafael Grossi urged the US to “spare no effort” in nuclear talks with Iran as the watchdog cannot ensure that the country’s program is “exclusively peaceful.” “Unless and until Iran assists the Agency in resolving the outstanding safeguards issues, the Agency will not be in a position to provide assurance that Iran’s nuclear programme is exclusively peaceful,” Grossi said. Further, the agency found three undeclared uranium enrichment locations in Iran – at Varamin, Marivan and Turquzabad.
Grossi also warned that the Islamic Republic has the materials necessary to break out toward a nuclear weapon after the IAEA reported that Iran was still producing highly enriched uranium, a critical part of its nuclear talks with the US.
Trump: Great job by National Guard in LA
United States President Donald Trump said the National Guard is doing a “great job” in Los Angeles after he deployed it there to quell protests against his administration’s handling of immigrants. However, the New York Times reported that no members of the National Guard have been seen in the area. Trump accused California Governor Gavin Newsom and Los Angeles Mayor Karen Bass of being “incompetent” in dealing with the demonstrations. He also claimed the protests were started by “instigators and often paid troublemakers” and said that demonstrators will not be allowed to wear masks.
nn: elon are you paying attention?
Trump: Musk to face ‘serious consequences’ if he backs Dems
https://youtu.be/uaR1yPSynAQUnited States President Donald Trump warned Saturday that Tesla and SpaceX CEO Elon Musk could face “very serious consequences” if he supports Democratic candidates opposing Republicans who back the GOP budget bill. In a phone interview with NBC News, the president also confirmed he has no interest in mending ties with Musk after their recent public clash. Asked if their relationship was over, Trump responded, “I would assume so, yeah.” He dismissed any plans to speak with the tech billionaire, stating he was “too busy doing other things.” Trump accused Musk of being “very disrespectful” and downplayed recent speculation over cutting Musk’s federal contracts, saying he hadn’t given it further thought. His comments came after Musk deleted one of his posts accusing Trump.
NN: for sure elon is a drug addict. a man who all of his wealth came from government subsidies and government contracts is proven addicted. to piss of the one man who can shut off his oxygen is really…… stupid
Trump says Iran should ‘stop enriching’
United States President Donald Trump threatened that if Iran did not stop enriching uranium, the US would stop it “the other way” during an interview on Air Force One. When asked about comments made by Ayatollah Khomeini that Iran has to enrich uranium,
Trump responded, saying that “no, they won’t be enriching,” because “if they enrich, then we’re going to have to do it the other way.”
US issues new Iran-related sanctions, Treasury website shows
WASHINGTON, June 6 (Reuters) – The United States has issued a new round of Iran-related sanctions targeting 10 individuals and 27 entities, according to a post on the U.S. Department of Treasury website on Friday.
The sanctions, which also target some entities in the United Arab Emirates and Hong Kong, come as U.S. President Donald Trump’s administration is working to get a new nuclear deal with Tehran.