The Israel Defense Forces (IDF) said on Friday that two unmanned aerial vehicles (UAV) penetrated the country’s airspace from Lebanon, with one drone causing damage to a building in Herzliya north of Tel Aviv. According to the military, one drone was successfully shot down, after several interception attempts were made. No casualties were reported but the IDF stated “additional explosions” may be heard as a result of interceptions or impacts. In the meantime, Israeli media reported that a drone impacted a building in Herzliya, causing a fire and power outages in parts of the city.
Netanyahu blasts Western leaders over arms embargo
Israeli Prime Minister Benjamin Netanyahu issued a fierce condemnation on Saturday against Western leaders, including French President Emmanuel Macron, for suggesting an arms embargo on Israel. “All civilized countries should be standing firmly by Israel’s side. Yet President Macron and some other Western leaders are now calling for an arms embargo against Israel. Shame on them,” Netanyahu said in a video address. The remarks came just hours after Macron stated that at this moment, “the priority” should be “to halt the flow of weapons fueling the conflict.” For his part, Netanyahu’s response focused on Israel’s fight against Iran, Hamas, Hezbollah, the Houthis in Yemen, and Shiite militias in Iraq and Syria, which is why, he added, Israel should count on the support of the entire “civilized world.” Despite international criticism, he vowed that Israel would continue to fight “with or without their support.”
Israel’s security cabinet met Thursday night to discuss how to retaliate against Iran for its missile attack last week, as US efforts to influence the decision remained in question. A final decision on the timing of the strike was to be made by Prime Minister Benjamin Netanyahu and his defense minister, Yoav Gallant, public broadcaster Kan said. Israel’s security cabinet met Thursday night to discuss how to retaliate against Iran for its missile attack last week. Stuart Livingstone-Wallace reports. On Wednesday, Joe Biden’s first call with Netanyahu since August threw into focus the American president’s limited ability to have a say in the nature of what could be an imminent strike against Iran. Biden has warned Israel against attacking Iran’s nuclear sites, which Tehran would view as especially provocative. US officials also worry that hits on Iranian oil infrastructure would push up energy prices and hurt the global economy. Science Minister Gila Gamliel, a member of the security cabinet, said it would “make the right decision” to prevent repeat salvos from Iran. Israel may act imminently, she told Kan. An aide to another security cabinet minister said he believed there would be a vote to authorize Israel’s retaliation. He requested anonymity given the sensitivity of the issue. The US is pressing Israel to limit its response against Iran to military targets. It is also proposing a fresh round of economic sanctions on the Islamic Republic, according to people familiar with the matter. A White House account of the Wednesday phone conversation made no mention of a likely Israeli strike against Iran. Instead, it said that Biden “affirmed his ironclad commitment to Israel’s security” and “condemned unequivocally Iran’s ballistic missile attack” against Israel on Oct. 1. The Israeli side didn’t release any readout, a possible sign of the tensions between Israel and the US, its major ally. Still, a senior Israeli official insisted the country was coordinating with the US over the planned retaliation against Iran. “Our attack on Iran will be deadly, precise and above all surprising,” Gallant, the defense minister, said on Wednesday. “They will not understand what happened and how it happened. They will see the results.” Washington is aiming to give Netanyahu an off-ramp that allows him to resist calls for severe retribution from hard-line nationalists in his coalition, as well as some opposition leaders. There’s no guarantee he’ll take it, especially given that the Biden administration is reluctant to cut weapons supplies to Israel or take other measures that might force Netanyahu’s hand. Iran’s attack was largely foiled, though one person in the West Bank was killed and millions of Israelis had to go to shelters. Some military bases were also hit. There are political concerns for the US. Vice President Kamala Harris, the Democratic presidential nominee, is anxious to keep the conflict from draining support in battleground states ahead before the Nov. 5 election. Netanyahu, who has openly touted his close relationship with Republican candidate Donald Trump, has shown little interest in helping her, though he says he’s neutral. “Escalation in the region helps Trump, which is also good for Bibi because it means not just four more weeks of unrestrained behavior, but four years of no American pressure,” Ali Vaez, Iran Project Director at the International Crisis Group, said, using Netanyahu’s nickname. Ties between the US and Israel have grown more strained over the past year. Netanyahu has disregarded US advice time and again in charting Israel’s response to the Oct. 7, 2023 attack by Hamas that killed 1,200 Israelis and saw about 250 taken hostage. The Biden administration has been frustrated at the extent of Israel’s subsequent offensive on Gaza, which has killed about 42,000 Palestinians, according to the health ministry in the Hamas-run territory, which doesn’t distinguish between civilians and combatants. The US has also criticized Israel for not letting enough aid into Gaza and tried, unsuccessfully, to dissuade Netanyahu from sending ground troops into southern Lebanon. Israel started its ground incursion into Lebanon last week in a bid to degrade Hezbollah, an Iran-backed militant group that’s been firing rockets and drones on Israeli territory in solidarity with Hamas. This week, Netanyahu called on the Lebanese people to “take your country back” from Hezbollah and said that if they didn’t, Lebanon could experience “destruction and suffering like we see in Gaza.” On Wednesday, when asked about those comments, US State Department spokesperson Matthew Miller said: “We cannot and must not see the situation in Lebanon turn into anything like the situation in Gaza. That would, of course, not be acceptable.” The United Nations said Thursday that two of its peacekeepers were lightly injured when an Israeli tank fired toward an observation post in southern Lebanon. France, Italy and Ireland, all of which have peacekeepers in Lebanon, criticized the incident. “Firing on peacekeepers can never be tolerated or acceptable,” Irish Prime Minister Simon Harris said. “The Blue Helmet worn by UN peacekeepers must be sacrosanct.” Danny Danon, Israel’s ambassador to the United Nations, advised the peacekeepers to relocate 5 kilometers (3 miles) to the north “to avoid danger as fighting intensifies” and the situation “remains volatile as a result of Hezbollah’s aggression.” The Israel Defense Forces said Hezbollah had fired about 190 projectiles into Israel on Thursday. Lebanon’s health ministry said Israeli strikes on Beirut left 18 dead and 92 wounded. Biden and Netanyahu spoke after claims in a new book by journalist Bob Woodward that the US president used expletives to describe the Israeli premier. “That son of a bitch, Bibi Netanyahu, he’s a bad guy,” Biden reportedly said to one of his associates in comments that the White House didn’t deny, CNN said. For all Netanyahu’s disregard of the US, he did heed American warnings after a similar Iran attack in April. He retaliated with a single, limited strike against an air-defense facility in Isfahan, Iran. That was after Biden had urged him to avoid a bigger assault. “They’ll probably go against the military-industrial complex in Iran, probably not against the nuclear power complex, and probably not against energy,” retired US Navy Admiral James Stavridis, who is now a Bloomberg opinion columnist, told Bloomberg Radio on Wednesday. “I think there’s about a one-in-four chance of a broader war in the Middle East that drags the US in. That’s uncomfortably high, but I’d still bet against a big sweeping war in the Middle East.”
As Iran visits Gulf states to scrounge up support in the face of what many believe is an impending strike by Israel, Reuters reports that Saudi Arabia, UAE and Qatar are lobbying Washington to thwart Israel. On Thursday, Iranian Foreign Minister Abbas Araghchi told the media that the country was seeking support from Gulf nations to de-escalate tensions. Diplomatic sources cited by The National described the visit as an attempt to defend Iran’s position in the war and to prevent a wider regional conflict.
Speaking to Reuters three unnamed Gulf sources said Saudi Arabia, UAE and Qatar are concerned that Israel will target Iranian oil facilities and that other Gulf assets could also come under fire by Iran or its proxies. All three Gulf countries are refusing to let Israel use their airspace, with Reuters reporting that Tehran warned Riyadh earlier this week that it could not guarantee the safety of the Kingdom’s oil facilities in the event of an Israeli attack.
“The Iranians have stated: ‘If the Gulf states open up their airspace to Israel, that would be an act of war,” Reuters quoted a Saui analyst close to the royal court as saying.
On Monday, media reports citing Israeli officials appeared to indicate that a significant counter attack is still coming, and it is expected to target Iranian military sites. The fresh report also lists as likely targets Iranian intelligence sites and officials’ offices or headquarters. President Biden has warned against striking Iran’s nuclear sites, and even days ago backed off the idea of hitting energy and oil facilities. A full-scale conflict between Israel and Iran could upend the international energy supply and send shock waves throughout the global economy, experts warn. “Major disruption of regional oil and gas exports is likely to have a material impact on the global economy,” Farzan Sabet, senior research associate at the Geneva Graduate Institute, told RFE/RL. NN: I am betting BIG that their will be NO attack on Iranian nuclear sights nor their oil infrastructure until after the elections at best, And if Mssssss Harris gets elected maybe NEVER.
US, Israel allegedly narrow differences on Iran response
United States President Joe Biden and Israeli Prime Minister Benjamin Netanyahu narrowed the differences between their countries regarding Israel’s planned retaliation against Iran, according to Axios reporter Barak Ravid. Biden and Netanyahu spoke on the phone on Wednesday and reportedly reached an understanding about the nature of Israel’s response to Iran’s missile attack on October 1. Biden’s administration was “less concerned” about Israel’s potential attack, Ravid wrote, citing an unnamed US official. At the same time, it was reported that the retaliation was still “slightly more severe” than the US would like to see. US and Israeli sources also said there were intense consultations between the two governments this week concerning the current tensions between Israel and Iran, and the former country’s expected military action.
US President Joe Biden’s first call in over a month with Benjamin Netanyahu threw into focus his limited ability to influence Israel’s prime minister over what could be an imminent strike against Iran.
“Our attack on Iran will be deadly, precise and above all surprising,” Israeli Defense Minister Yoav Gallant said on Wednesday. “They will not understand what happened and how it happened. They will see the results.”
In a sign of the tensions between Israel and the US, its major ally, the Israeli side by the next morning had released no readout of the call. Biden has warned Israel against attacking Iran’s nuclear sites, which Tehran would view as especially provocative. US officials also worry that hits on Iranian oil infrastructure would push up energy prices and hurt the global economy. The US is pressing Israel to limit its retaliation against Iran for a missile salvo last week to military targets. It is also proposing a fresh round of economic sanctions, according to people familiar with the matter, who asked not to be identified discussing private deliberations. Washington is aiming to give Netanyahu an off-ramp that allows him to resist calls for severe retribution from hard-line nationalists in his coalition, as well as some opposition leaders. There’s no guarantee he’ll take it, especially given the Biden administration is reluctant to cut weapons supplies to Israel or take other measures that might force Netanyahu’s hand.
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Big ideas and open questions in the fascinating places where finance, life and culture meet. Coming soon. There are political concerns for the US. Vice President Kamala Harris is anxious to keep the conflict from draining support in battleground states ahead of the Nov. 5 election, especially Michigan, which has a substantial population of Arab and Muslim Americans. Netanyahu, who has openly touted his close relationship with Republican candidate Donald Trump though says he’s neutral, has shown little interest in helping her. “Escalation in the region helps Trump, which is also good for Bibi because it means not just four more weeks of unrestrained behavior, but four years of no American pressure,” Ali Vaez, Iran Project Director at the International Crisis Group, said, using Netanyahu’s nickname.
Israeli Prime Minister Benjamin Netanyahu said that the country has a “historic opportunity” to strike Iranian nuclear or oil facilities, “which shouldn’t be missed,” after United States President Joe Biden advised him not to hit these sites, Israel’s Channel 14 reported on Thursday .Israel’s security cabinet is set to meet later today to discuss and vote on potential actions against Tehran. Previous media reports claimed that Washington officials fear that a decision to hit Iran’s nuclear or oil infrastructure could pull the US into the conflict.
Biden says he won’t support an Israeli attack on Iran nuclear facilities, oil installations
President Biden and Israeli Prime Minister Benjamin Netanyahu spoke over the phone on Wednesday, according to the White House, after Israel promised a retaliatory attack on Iran. President Biden said he would not support an Israeli attack on Iranian nuclear facilities or oil installations. CBS News senior foreign correspondent Elizabeth Palmer reports.
Summary of Weekly Petroleum Data for the week ending October 04, 2024
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.8 million barrels from the previous week. At 422.7 million barrels, U.S. crude oil inventories are about 4% below the five year average for this time of year. U.S. crude oil refinery inputs averaged 15.6 million barrels per day during the week ending October 04, 2024, which was 101 thousand barrels per day less than the previous week’s average. Refineries operated at 86.7% of their operable capacity last week. Gasoline production increased last week, averaging 10.2 million barrels per day. Distillate fuel production increased last week, averaging 5.0 million barrels per day. U.S. crude oil imports averaged 6.2 million barrels per day last week, decreased by 389 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.4 million barrels per day, 2.5% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 48 thousand barrels per day, and distillate fuel imports averaged 104 thousand barrels per day. Total motor gasoline
inventories decreased by 6.3 million barrels from last week and are about 4% below the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories decreased by 3.1 million barrels last week and are about 9% below the five year average for this time of year. Propane/propylene inventories increased by 1.9 million barrels from last week and are 9% above the five year average for this time of year. Total commercial petroleum inventories decreased by 8.1 million barrels last week.
Total products supplied over the last four-week period averaged 20.6 million barrels a day, up by 2.9% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.0 million barrels a day, up by 7.5% from the same period last year. Distillate fuel
product supplied averaged 3.9 million barrels a day over the past four weeks, down by 0.9% from the same period last year. Jet fuel product supplied was up 9.2% compared with the same four-week period last year
The war premium has started to evaporate, especially after the recent rally
ING commodities strategists Warren Patterson and Ewa Manthey wrote in a note on Tuesday “China’s National Development and Reforms Commission (NDRC) failed to announce any new supportive measures. Without policy support, an economic slowdown could keep China’s oil demand subdued in the short to medium term,”.
PMV oil brokerage said in a Tuesday note. The return of Libya’s oil production and exports after more than a month of hiatus due to the political stalemate has also weighed on the prices. “Oil can keep ascending only for so long purely based on perceptions and not actual supply disruption,” “The geopolitical risk premium has an obscure and unforeseeable expiry date. When that point arrives and is not replaced by genuine and supportive fundamental factors, in the case of the Middle East conflict by a palpable supply shortage, the move higher will not be sustainable.”
Omega Intranational Trust analyst Nick Guarino in a on line Pod Cast warned “after the elections and especially if Tromp wins oil could go over $150 barrel. The US and Israel are adamant a radicalized Iran should never be allowed to have nukes”
Crude oil prices experienced a further decrease on Tuesday as the lingering conflict in the Middle East and concerns regarding demand, particularly from China, persist. Investors are closely monitoring Israel’s potential response to last week’s missile attack from Iran, with Iran’s oil facilities considered a possible target. West Texas Intermediate (WTI) for settlements in November fell by 4.63% at 10:44 am ET and sold for $73.67per barrel. Brent for December deliveries slumped by 4.40% a minute later, going for $77.38 per barrel.
Gallant to be in US Wednesday as Israel weighs its retaliation
CIA chief warns of ‘actions that take on a life of their own’
Israel’s defense minister is traveling to Washington soon as the country continues to weigh how to respond to an Iranian missile attack and the US urges restraint. Yoav Gallant will on Wednesday discuss the “ongoing Middle East security developments” with US Defense Secretary Lloyd Austin, the Pentagon said. US President Joe Biden has urged Israel not to attack Iran’s nuclear program or oil infrastructure, amid concerns either move could trigger a wider war that drags in Washington, pushes up energy prices and hits the global economy. Israel’s Prime Minister Benjamin Netanyahu has said Iran made “a big mistake” and will “pay for it.” The barrage of 200 ballistic missiles caused little damage, with one fatality in the West Bank, but millions of Israelis were forced into shelters and some air bases were hit.
“If Gallant is due in US this week, it’s clear Israel’s response against Iran has been delayed,” Aaron David Miller, a Carnegie Endowment for International Peace Senior Fellow and former State Department Arab-Israeli negotiator, said on X. “The complexities of escalation and the need to convince — and perhaps coordinate — Israel’s response with the US seem to be top of mind.” Iran says any attack against it will be met with a powerful response. The head of the Central Intelligence Agency, William Burns, warned of the consequences of misjudgments by any side. “We face the very real danger of a further regional escalation of conflict,” Burns said Monday. “You can see the potential for inadvertent collisions, misunderstandings, actions that take on a life of their own.” He added that “the Israeli leadership is weighing very carefully how it’s going” to react to Iran’s salvo and that it will take into account the White House’s concerns. NN: This IS what i EXPECTED. its to close to the election. And the US don’t want Israel stirring the Hodges up
Prime Minister Benjamin Netanyahu vowed Monday that Israel will continue to fight as long as its existence is threatened. “As long as the enemy threatens our existence and the peace of our country, we will continue to fight,” the prime minister said at the state’s memorial ceremony to mark one year since the October 7 attack. He emphasized that Israel’s objectives include defeating Hamas, rescuing hostages, and preventing future threats from Gaza, vowing that no hostage will be left behind.
Netanyahu finally reaffirmed that Israel’s fight is not just for today but for future generations, stating, “Together — with God’s grace — we will win.”
