BlackMask Breaking News

• President Donald Trump claimed the Saudis and OPEC were responsible for fueling the war in Ukraine through higher oil prices.
• He said the war would end if crude prices were slashed.
• “I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil,” Trump said.

United States President Donald Trump said in an exclusive interview with Fox News that energy and tariffs would lead the US to wealth. Trump stressed that the US has “more oil and gas than any other country,” unlike China which has to get it “the old fashioned way and buy it.” Trump said that energy would lead the US on its path toward becoming a “wealthy country again.” But “there will be other things also,” he said, pointing to tariffs. He also praised natural gas for being a “powerful, clean and consistent” source of energy, unlike wind. “We’re putting an order out. I’ve already sort of done it. We don’t want windmills,” he insisted

Crude oil futures fell Thursday after President Donald Trump urged Saudi Arabia and OPEC to cut their prices.

U.S. crude oil fell 82 cents, or 1.09%, to close at $74.62 per barrel, while global benchmark Brent dropped 71 cents, or 0.9%, to close at $78.29 per barrel. Oil was higher on the session before Trump began speaking. Trump accused the Saudis and OPEC of fueling the war in Ukraine through high oil prices, claiming the fighting would end if they allowed global crude prices to fall. Russia is one of the largest oil exporters in the world and the revenues from those sales support its war.

“I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil,” Trump said in a virtual address to the World Economic Forum. “If the price came down, the Russia-Ukraine war would end immediately.”

“They’re very responsible, actually, to a certain extent, for what’s taking place,” Trump said of the Saudis and OPEC. The Saudis and Russia coordinate to influence global prices through the group OPEC+. They and six other members of the group have been holding 2.2 million barrels per day off the global market to keep prices from falling too much. Oil prices faced downward pressure last year due to abundant production in the U.S. and slowing demand in China.

United States Donald Trump officially signed the crypto executive order on Thursday in the Oval Office with journalists in the room. With this order, the Presidential Working Group on Digital Asset Markets will be established and tasked to create a framework for regulations, as well as to develop a strategy for a national digital asset stockpile.

The order aims to develop federal regulations for digital assets, including stablecoins. Additionally, the working group will evaluate the creation of a strategic national digital assets stockpile, fueling speculation about a potential Bitcoin reserve. The executive order states that this stockpile could potentially be derived from crypto assets lawfully seized by the Federal Government through its law enforcement efforts.At press time, Arkham data shows that the US Government holds only  $21 billion in seized digital assets, primarily composed of Bitcoin, with over 198,000 BTC in its wallets. These seized assets could potentially be transferred or utilized for the creation of the stockpile. David Sacks, the White House AI & Crypto Czar, will chair the working group, which includes the Treasury Secretary and SEC Chairman. The order explicitly bans federal agencies from promoting or establishing central bank digital currencies and reverses previous administration policies on digital assets. The order’s mention of a potential national digital assets stockpile has sparked discussions about the establishment of a strategic Bitcoin reserve.Adding to the momentum, Senator Cynthia Lummis was elected chair of the Senate Banking Subcommittee on Digital Assets earlier today. Lummis announced that the subcommittee’s priorities include passing bipartisan legislation to promote responsible digital asset innovation and exploring the establishment of a strategic Bitcoin reserve. She also vowed to conduct rigorous oversight of Federal financial regulators to prevent initiatives like Operation Chokepoint 2.0 from resurfacing. Bitcoin responded to the news with a 2% increase to $106,300 before settling at $105,000.

nn audio file: bitcoin trump decree

Summary of Weekly Petroleum Data for the week ending January 17, 2025

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve decreased by 1.0 million barrels from the previous week. At 411.7 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year U.S. crude oil refinery inputs averaged 15.5 million barrels per day during the week ending January 17, 2025, which was 1.125 million barrels per day less than the previous week’s average. Refineries operated at 85.9% 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 4.7 million barrels per day. U.S. crude oil imports averaged 6.7 million barrels per day last week, increased by 621 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.6 million barrels per day, 0.3% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 340 thousand barrels per day, and distillate fuel imports averaged 289 thousand barrels per day.. Total motor gasoline
inventories increased by 2.3 million barrels from last week and are 1% below the five year average for this time of year. Finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories decreased by 3.1 million barrels last week and are about 6% below the five year average for this time of year. Propane/propylene inventories decreased by 3.7 million barrels from last week and are 8% above the five year average for this time of year. Total commercial petroleum inventories decreased by 4.1 million barrels last week.
Total products supplied over the last four-week period averaged 19.7 million barrels a day, up by 0.7% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.3 million barrels a day, up by 1.9% from the same period last year. Distillate fuel
product supplied averaged 3.6 million barrels a day over the past four weeks, up by 6.2% from the same period last year. Jet fuel product supplied was up 8.9% compared with the same four

Oil fell, reversing earlier gains, after President Donald Trump said he’ll push Saudi Arabia and OPEC to reduce the price of crude.

West Texas Intermediate futures slid 0.9% to below $75 a barrel, while global benchmark Brent slipped below $79. WTI had earlier climbed as much as 0.7% to $76.

“I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil,” Trump said in remarks delivered virtually to world leaders gathered in Davos Thursday. “You’ve got to bring it down.”

Oil prices down 1% after Trump’s Davos speech

Crude oil prices fell by more than 1% on Thursday after United States President Donald Trump said that he will urge Saudi Arabia’s Crown Prince Mohammed bin Salman and OPEC to lower the cost of oil, noting that the lowered prices could bring an end to the conflict between Russia and Ukraine. The prices were also driven down by yesterday’s report by the American Petroleum Institute which showed that the number of inventories in the US increased by one million barrels in the week ending January 16.

West Texas Intermediate for March settlements decreased by 1.10% at 11:49 am ET, going for $74.61 per barrel. Brent for the same month’s deliveries declined by 1.04% at the same time, selling at $78.26 a barrel.

US President Donald Trump announced on Monday his intention to take back control of the Panama Canal, During his inauguration speech, Trump claimed China had mismanaged the canal. “We’re taking it back,” Trump declared, accusing China of unfairly benefiting from the vital trade route and asserting that the US never ceded the canal to Beijing. Trump also criticized alleged overcharging practices, stating, “Even our Navy ships are being overcharged to use the canal.”

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s crown prince said Thursday the kingdom wants to invest $600 billion in the United States over the next four years, comments that came after President Donald Trump earlier put a price tag on returning to the kingdom as his first foreign trip. Trump’s 2017 trip to Saudi Arabia upended a tradition of U.S. presidents first heading to the United Kingdom as their first trip abroad. It also underscored his administration’s close ties to the rulers of the oil-rich Gulf states as his eponymous real estate company has pursued deals across the region as well. The comments from Crown Prince Mohammed bin Salman, reported early Thursday by the state-run Saudi Press Agency, came in a phone call with Trump. “The crown prince affirmed the kingdom’s intention to broaden its investments and trade with the United States over the next four years, in the amount of $600 billion, and potentially beyond that,” the report said. The readout did not elaborate on where those investments and trade could be placed. The U.S. in recent years has increasingly pulled away from relying on Saudi oil exports, which once was the bedrock of their relationship for decades. Saudi sovereign wealth funds have taken large stakes in American businesses while also looking at sports as well. It also wasn’t immediately clear if Trump’s call with the crown prince was his first with a foreign leader since re-entering the White House. However, it was the first reported abroad. The crown prince, the de facto ruler of the oil-rich kingdom, also spoke with U.S. Secretary of State Marco Rubio early Thursday. On Monday after his inauguration, Trump talked about possibly heading to the kingdom again as his first foreign trip, like he did in 2017. The $600 billion pledge, which dwarves the gross domestic product of many nations, also comes as the kingdom faces budgetary pressures of its own. Global oil prices remain depressed years after the height of the coronavirus pandemic, affecting the kingdom’s revenues. Meanwhile, Prince Mohammed also wants to continue his $500 billion project at NEOM, a new city in Saudi Arabia’s western desert on the Red Sea. It also will need to build tens of billions of dollars’ worth of new stadiums and infrastructure ahead of it hosting the 2034 FIFA World Cup.

The executive orders issued by President Trump are poised to have profound implications for both the U.S. and global energy landscapes, analysts at BMI, a unit of Fitch Solutions, stated in a BMI report sent to Rigzone late Tuesday by the Fitch Group.

“Domestically, the emphasis on increasing fossil fuel production will boost U.S. oil and gas production output, providing immediate economic benefits to the oil and gas sector by reducing regulatory barriers and streamlining permits,” the BMI analysts said in the report.

“We expect that these orders will increase oil and gas consumption in the U.S. – domestic production becomes more readily available and potentially more cost competitive,” they added. The analysts went on to note in the report that this intensified focus on fossil fuels poses a risk to the United States’ long-term climate objectives. “By prioritizing fossil fuel infrastructure and rolling back restrictions, the orders may slow down the United States’ energy transition to renewable energy sources,” the BMI analysts said in the report. “Furthermore, it places barriers on wind power development, through the suspension of offshore wind leasing, representing a critical setback for the U.S. renewable energy sector,” they added. “Offshore wind projects, which have been gaining momentum as a cornerstone of clean energy strategies, could face significant delays or cancellations. Such interruptions could impede progress towards diversifying the energy mix and meeting emissions targets, affecting both environmental outcomes and the competitiveness of the U.S. renewable energy industry,” they went on to state.

“An increase in U.S. fossil fuel exports, facilitated by expanded production capacity, could reduce fuel costs, shifting the global energy mix towards higher emissions. This could counteract the progress made by other nations in reducing their carbon footprints and transitioning to cleaner energy sources,” they added.

Standard Chartered Bank Commodities Research Head Paul Horsnell late Tuesday, analysts at Standard Chartered Bank, including Horsnell, said, “we have not yet seen any major surprises in the new administration’s oil and gas policies, except perhaps the extent to which they have been framed as a central core of the entire program”.

Summary of Weekly Petroleum Data for the week ending January 10, 2025

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.0 million barrels from the previous week. At 412.7 million barrels, U.S. crude oil inventories are about 6% below the five year average for this time of year. U.S. crude oil refinery inputs averaged 16.6 million barrels per day during the week ending January 10, 2025, which was 255 thousand barrels per day less than the previous week’s average. Refineries operated at 91.7% of their operable capacity last week. Gasoline production increased last week, averaging 9.3 million barrels per day. Distillate fuel production decreased last week, averaging 5.2 million barrels per day. U.S. crude oil imports averaged 6.1 million barrels per day last week, decreased by 304 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 3.3% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 450 thousand barrels per day, and distillate fuel imports averaged 219 thousand barrels per day.  Total motor gasoline inventories increased by 5.9 million barrels from last week and are sightly below the five year average for this time of year. Finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 3.1 million barrels last week and are about 4% below the five year average for this time of year. Propane/propylene inventories decreased by 4.7 million barrels from last week and are 7% above the five year average for this time of year. Total commercial petroleum inventories decreased by 3.4 million barrels last week.
Total products supplied over the last four-week period averaged 20.2 million barrels a day, up by 1.1% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.5 million barrels a day, up by 0.8% from the same period last year. Distillate fuel
product supplied averaged 3.6 million barrels a day over the past four weeks, up by 5.8% from the same period last year. Jet fuel product supplied was up 6.4% compared with the same four week period last year.

 

Oil edged lower after President Donald Trump threatened tariffs on China and the European Union, while traders continued to assess the fallout from unprecedented US sanctions on Russia. West Texas Intermediate settled below $76 a barrel after swinging between gains and losses for much of Wednesday’s session. Crude’s recent run of declines has been partly spurred by the bearish implications of a renewed global trade conflict that poses risks to consumption and growth. Trump on Wednesday widened his threats to include a 10% tariff on China and the EU, two of the world’s largest energy markets. The new threats follow Trump’s plans to impose tariffs as high as 25% on goods from Canada and Mexico, which are major crude suppliers to the US. The possibility of tariffs on Canadian oil already is pushing a flood of crude out of the country to the US to beat potential levies. Still, the Canada tariffs would result in higher gasoline costs for American consumers, Goldman Sachs Group Inc. warned last year. Oil traders also are still digesting the most comprehensive set of sanctions on Russian oil to date. State-owned refiner Indian Oil Corp. said it sees a supply hit of up to 2 million barrels a day from the measures. The value of Dubai crude has soared relative to other benchmarks as traders scramble for alternative supplies. Trump said he’s likely to impose more penalties on Moscow if President Vladimir Putin doesn’t negotiate on Ukraine. Crude remains higher so far this year, helped by the Russia sanctions and frigid weather in the northern hemisphere. A historic winter storm caused bitter cold from Texas to North Carolina Wednesday, upending regional energy markets.

“Oil’s 2025 uptrend reflects unsustainable bullish momentum, primarily fueled by transient factors: winter demand, a short-term Chinese export boost ahead of US tariff risks and hedging against upside risks driven by U.S. sanctions on Russian oil,” said Razan Hilal, a market analyst at Forex.com.

The recent run of declines has been limited by WTI’s 200-day moving average, which is serving as a floor for losses.

nn: the equation is incredible simple

ddb=x(.50}=$

ddb is trumps drill baby drill

x is current price of oil

$ is the net oil price in the next year

 

WASHINGTON (Reuters) – U.S. President Donald Trump said on Tuesday he would likely impose sanctions on Russia if its president, Vladimir Putin, refuses to negotiate about ending the war in Ukraine. Trump gave no details on possible additional sanctions. The United States has already sanctioned Russia heavily for its invasion of Ukraine in February 2022. Trump said his administration was also looking at the issue of sending weapons to Ukraine, adding his view that the European Union should be doing more to support Ukraine. “We’re talking to (Ukrainian President Volodymyr) Zelenskiy, we’re going to be talking with President Putin very soon,” Trump said. “We’re going to look at it.” Trump said he had pressed Chinese President Xi Jinping in a call to intervene to stop the Ukraine war. “He’s not done very much on that. He’s got a lot of … power, like we have a lot of power. I said, ‘You ought to get it settled.’ We did discuss it.”