US President Donald Trump took to Truth Social on Thursday to say that the Gaza Strip would be “turned over” to the US by Israel after the war in the enclave ends. “The Palestinians, people like Chuck Schumer, would have already been resettled in far safer and more beautiful communities, with new and modern homes, in the region. They would actually have a chance to be happy, safe, and free,” he added. He said that no US soldiers would be needed. Trump previously proposed that the US would take a “long-term ownership position” over the territory and develop the Strip into a utopian “Riviera” of the Middle East, where people from “all over the world” would live in peace, provided the mass displacement of Gazans
EIA Weekly Petroleum Report
Weekly Petroleum Data for the week ending January 31, 2025
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 8.7 million barrels from the previous week. At 423.8 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 15.3 million barrels per day during the week ending
January 31, 2025, which was 159 thousand barrels per day more than the previous week’s average. Refineries operated at 84.5% of their operable capacity last week. Gasoline production decreased last week, averaging 9.2 million barrels per day. Distillate fuel production decreased
last week, averaging 4.6 million barrels per day. U.S. crude oil imports averaged 6.9 million barrels per day last week, increased by 467 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 million barrels per day, 2.8% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 593 thousand barrels per day, and distillate fuel imports averaged 159 thousand barrels per day. Total motor gasoline
inventories increased by 2.2 million barrels from last week and are slightly above the five year average for this time of year. Finished gasoline inventories decreased while blending
components inventories increased last week. Distillate fuel inventories decreased by 5.5 million barrels last week and are about 12% below the five year average for this time of year. Propane/propylene inventories decreased by 4.8 million barrels from last week and are 2% below the five year average for this time of year. Total commercial petroleum inventories decreased by 2.7 million barrels last week.
Total products supplied over the last four-week period averaged 20.6 million barrels a day, up by 3.3% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.3 million barrels a day, down by 0.2% from the same period last year. Distillate fuel
product supplied averaged 4.3 million barrels a day over the past four weeks, up by 13.7% from the same period last year. Jet fuel product supplied was up 4.6% compared with the same four week period last year
NN: As expected. The market is well supplied
Trump says he’d prefer nuclear peace agreement with Iran
United States President Donald Trump said on Wednesday that reports on his country and Israel wanting to “blow Iran into smithereens” are “greatly exaggerated,” noting that he would prefer to sign a Verified Nuclear Peace Agreement with the Middle Eastern country.
“I want Iran to be a great and successful Country, but one that cannot have a Nuclear Weapon,”
Trump said in a post on Truth Social, adding that the nuclear peace agreement will “let Iran peacefully grow and prosper” but that they should “start working on it immediately and have a big Middle East Celebration when it is signed and completed. Yesterday, the US president signed a maximum-pressure memorandum on Iran, claiming that it is “too close” to obtaining a nuclear weapon, which Iranian Foreign Minister Abbas Araghchi condemned, stating that his country’s position on nuclear arms is “quite clear” and that Trump’s bill will “lead to another failure.”
US oil inventories reportedly up by 5.02M barrels
Crude oil inventories in the United States rose by 5.02 million barrels in the week ending January 31, the American Petroleum Institute’s (API) private data reportedly showed on Tuesday. Distillate inventories allegedly dropped by 6.98 million barrels, while gasoline stockpiles increased by 5.43 million barrels during the reported week. In the same period, reserves in Cushing, Oklahoma, were said to have jumped by 110,000 barrels.
Nick note This is the API report we get the EIA report TODAY which is the more reliable one. We’re seeing as expected inventories build as refineries have finished making heating oil and they’re shutting down to get ready for gasoline driving season. This is further proof, supplied inventories are increasing. Which means that as soon as we get the hissy fit tariffs on oil and Iran war stories out of the market we will return Trump’s dream of a $35 barrel oil. The stars are aligning for this. Of course the algo candlestick assholes will try to take the markets in a different direction…. See that’s how they steal their money.
Oil Prices Jump on Trump’s Iran Crackdown
Oil prices took a sharp turn today as traders weighed President Trump’s latest “maximum pressure” push against Iran. Brent crude rose to $76.34 per barrel (+0.50%), while WTI’s loss from early in the day shrunk to just a 0.31% dropoff at $72.93 per barrel. While a quick glance at today’s oil prices could suggest traders aren’t convinced just yet that the Iran situation could have a profound effect, oil prices are indeed on the rise from their earlier downward trend—a rather quick turn, in fact.
Trump’s plan? Squeeze Iran’s oil exports down to zero—a bold move considering Iran still ships as much as 1.3 million barrels per day, mostly to China.
The White House’s playbook includes fresh sanctions, tighter enforcement, and rolling back existing waivers. Translation: If the administration makes good on these threats, global supply could tighten overnight. The last time Trump went all-in on Iranian sanctions, oil prices spiked north of $80. The market remembers. This time, with Middle East tensions already simmering and OPEC+ struggling to maintain discipline, the upside risk is real. Of course, oil traders are a cynical bunch. They’ve seen this movie before. Crude flows tend to find a way—whether through shady ship-to-ship transfers or creative bookkeeping in Beijing. But if Washington actually gets aggressive with enforcement (hello, secondary sanctions), even China’s appetite for cheap Iranian crude might take a hit. That’s when Brent could break out. For now, the market is playing it cool. But don’t be surprised if crude traders wake up tomorrow and suddenly decide that cutting off a key OPEC producer is, in fact, a big deal. Crude prices were trading down prior to the announcement after China responded to US tariffs on China. WTI was down nearly 3% earlier in the day, with Brent down almost 2%.
Nick Note: well we’ve been having rock and roll fun. Let me explain what happened. We basically got the upward driver of the market on Friday. The announcement of tariffs hitting Canadian oil with a 10% fee. We got an immediate pop to $77.00 Brent…. Only to see the market drop to $74.00 when as expected the Canadian’s caved, We promptly told yo to take profits, If you followed or recoes and doubled up, You are a very happy camper. As we warned you the nest trade Play it Again Sam came very quickly as the High Frequency Algo candle stick assholes got burned again. So hopefully we will guess lucky again.
Oil Prices Sink 3% as Trump Hits Pause on Canada Tariffs
Just two days after announcing sweeping sanctions of 25% on almost all Canadian imports as well as all Mexican imports, President Trump promised to pause the implementation of the levies for 30 days following urgent talks with the leaders of the two countries.
Oil markets reacted, with WTI dropping 3.3% and Brent falling 2.3%. Natural gas prices also fell significantly, shedding 5.2% in early trading.
The talks, according to a Reuters report, resulted in commitments by both Canada and Mexico to boost border controls, including deploying more personnel to stem the flow of migrants and stepping up drug traffic control measures. “As President, it is my responsibility to ensure the safety of ALL Americans, and I am doing just that. I am very pleased with this initial outcome,” Trump said, adding that he planned to negotiate new trade deals with both Canada and Mexico over the next 30 days. Canada is the biggest supplier of heavy crude to American refiners, exporting it at a rate of close to 4 million barrels daily, which makes it the biggest exporter of crude oil to the U.S. in general. Mexican crude oil exports north of the border are much smaller, at less than half a million barrels daily, but they still comprise the second-largest share of foreign oil in U.S. refiners’ mix. That fact may have played a role in Trump’s willingness to negotiate new trade deals quickly before the tariffs kick in and retaliation begins.
nn: IT AINT OVER
US allegedly planning $1B arms sale to Israel
United States Donald Trump’s administration asked Congress to approve an arms sale valued at around $1 billion for Israel, the Wall Street Journal reported on Monday, citing US officials familiar with the matter. According to the report, the transfer will include 4,700 1,000-pound bombs, valued at more than $700 million, and Caterpillar Inc.’s armored bulldozers, worth over $300 million. The funds for the arms sale would reportedly come from the billions of dollars in annual military aid provided by the US to Israel. The report of the military hardware transfer comes amid Israeli Prime Minister Benjamin Netanyahu’s visit to Trump in Washington, which is set for tomorrow. According to the report, Netanyahu and other Israeli officials are planning to urge Trump to initiate a separate set of arms transfers, which were previously requested by the Biden administration and which were valued at over $8 billion.
Canada caves in to Trumps demands US tariffs on hold
President Trump and Canadian Prime Minister Justin Trudeau announced a temporary deal Monday evening to halt the imposition of 25% tariffs on each other’s imports for 30 days while a final border security pact gets hashed out. Trump, 78, and Trudeau, 53, spoke on the phone twice Monday before announcing the agreement, with Canada set to ensure 10,000 troops will be stationed at the northern border and the PM vowing to take steps to crack down on fentanyl smuggling. “Canada has agreed to ensure we have a secure Northern Border, and to finally end the deadly scourge of drugs like Fentanyl that have been pouring into our Country,” Trump announced on Truth Social, following the call with Trudeau. “Canada will implement their $1.3 Billion Border plan.” “As President, it is my responsibility to ensure the safety of ALL Americans, and I am doing just that,” he added. “I am very pleased with this initial outcome.” In a separate post on X, Trudeau indicated that Canada would move ahead with its $1.3 billion border plan after Trump threatened the 25% duties that were due to take effect at 12:01 a.m. Tuesday. (Canadian energy products would have been subjected to a lower 10% rate.)
Nick Note: Trudeau is as dumb as he looks and he caved in pretty quick. I guess he scratched his ass and figured out he had no bargaining power. It’s absolutely absurd that Canada and Mexico think they can fight a tariff war with he US. In Mexico 90% of everything they sell including their drugs goes to America ditto for Canada. These countries have minuscule outside of American markets. Their economies are in shambles They basically sell cheap labor and their mineral resources. They have no alternative to the US market so they have to give trump what he wants. I might add that Trump’s demands were not unreasonable. It makes sense to designate the drug lords of Mexico the scourge of mankind terrorists. Canada allows Latinos from countries that can’t come into the United States free entry into Canada. Smuggling people and drugs into the US is a cottage industry in Canada. All they do is walk them across the 5000 mile border between Canada and the United States. The drug gangs in Canada are paid well by Mexican the cartels. America has many alternatives to Canadian oil. Canada does not have any other buyers for the 4 million barrels a day of oil it produces. It’s been an exciting time don’t you agree?
Mexico Caves U.S. tariffs on Mexico paused for a month after border deal, Trump says
WASHINGTON/BRUSSELS, Feb 3 (Reuters) – U.S. President Donald Trump has paused new tariffs on Mexico for one month after Mexico agreed to reinforce its northern border with 10,000 National Guard members to stem the flow of illegal drugs, particularly fentanyl, he said on Monday.
The agreement also includes a U.S. commitment to act to prevent trafficking of high-powered weapons to Mexico, Mexican President Claudia Sheinbaum said on X. The two leaders spoke by phone on Monday, just hours before U.S. tariffs on Mexico, China and Canada were set to take effect.
and te owner of the X social media platform, gave an update where he said the United States Agency for International Development or USAID was ‘beyond repair. The two countries will use the month-long suspension to engage in further negotiations, Trump said. “I look forward to participating in those negotiations, with President Sheinbaum, as we attempt to achieve a ‘deal’ between our two Countries,” he wrote on Truth Social. “”We have this month to work and convince each other that this is the best way forward,” Sheinbaum said at a press conference.
U.S. stocks, which had dropped sharply on Monday morning on fears of a deepening trade war, pared their losses following the announcement. The benchmark S&P 500 was down 0.7% around 10:45 a.m. ET (1545 GMT), cutting its losses on the day in half. The surprise announcement also relieved some of the pressure on Mexico’s peso.
Trump said on Monday he had spoken with Canadian Prime Minister Justin Trudeau and would do so again at 3 p.m. ET (2000 GMT). The tariffs on Canada and China remain poised to take effect on Tuesday, and Canada has announced retaliatory tariffs. A senior Canadian official told a New York Times reporter that Ottawa is not optimistic a similar reprieve is in the offing, the reporter said on X.
Speaking in Washington on Sunday after returning from his Mar-a-Lago estate, Trump indicated that the 27-nation European Union would be next in the firing line, but did not say when. “They don’t take our cars, they don’t take our farm products. They take almost nothing and we take everything from them,” he told reporters. EU leaders meeting at an informal summit in Brussels on Monday said Europe would be prepared to fight back if the U.S. imposes tariffs, but also called for reason and negotiation.
Arriving at the talks, French President Emmanuel Macron said if the EU were attacked in its commercial interests it would have to “make itself respected and thus react”.
Chancellor Olaf Scholz of Germany said the bloc could respond if necessary with its own tariffs against the U.S., but stressed it was better for the two to find agreement on trade. Trump hinted that Britain, which left the EU in 2020, might be spared tariffs, saying: “I think that one can be worked out”.
The U.S. is the EU’s largest trade and investment partner. According to the Eurostat data from 2023, the United States had a deficit of 155.8 billion euros ($161.6 billion) with the EU in the trade of goods, offset by a surplus of 104 billion euros in services. EU foreign policy chief Kaja Kallas said there were no winners in a trade war, and if one broke out between Europe and the United States, “then the one laughing on the side is China”.
NN: Hi, The Mexican President Claudia Sheinbaum is not as dumb as she looks. She scratched her ass and figured out she has a BIG problem here. What can I make Trump happy? I know we’ll put the army at the US border. And don’t let the wetbacks\cross the border. Mexico is very smart what are you going to do without America.
Canadians are the dumb shits of the hour. Canadian Prime Minister Justin Trudeau is drooling on himself…. hello wake up wake up this is basically a really simple proposition you want the biggest market in the world to shut you out? Canada has no real military. They’ve got no power, they’ve got no money. They’ve got significant economy. They are really the slaves to the US economy and they know it. Its simple give trump what he wants and life goes on. fight them and you end up with nothing.
FINAL TEST
This is static description
