Washington is said to have proposed new terms in an effort to secure an agreement on the ceasefire in the Gaza Strip, sources told Axios. People familiar with the matter shared that United States officials drafted new language for Article 8 of the proposal concerning ceasefire negotiations to determine the conditions for the second phase of the agreement. According to the sources, Hamas wants these talks to focus on the number of Palestinian soldiers that will be released in return for all male hostages, while Israel wants to discuss the demilitarization of Gaza. One of the insiders shared that should Hamas agree to the new proposal, it could pave the way for the warring parties to finalize the deal.
Israeli Jets Launched Massive Airstrike on Hezbollah Bases & Tears Down Tunnels Shafts!
IDF says it hit significant Hezbollah site deep in Lebanon; 50 rockets fired at Golan
3 members of terror group killed in attack in Hermel District; Israel says strike a response to UAV downed in south Lebanon Monday; suspected drone intercepted near Haifa An Israeli airstrike is seen in northeastern Lebanon’s Hermel District, early June 11, 2024. (Social media/X. Used in accordance with Clause 27a of the Copyright Law) Fighter jets struck what Israel’s military described as a significant Hezbollah compound deep in Lebanon overnight Monday-Tuesday after the terror group downed an Israeli drone. The Israel Defense Forces said airstrikes targeted a site in the Baalbek region belonging to Hezbollah’s Unit 4400, as well as sites in southern Lebanon. According to Israel, Unit 4400 is tasked with “logistical force build-up,” including delivering weaponry to Lebanon and within the country. Hezbollah is backed by Iran, which supplies it with much of its arms. Lebanese media reported that strikes took place in the Hermel District, near Baalbek in northeastern Lebanon, and sources in the terror group told AFP that three Hezbollah members were killed. “Three Hezbollah members were killed by nine Israeli missile strikes that targeted a convoy of tankers and a building” in a village in Hermel District on the border with Syria, the Hezbollah source told AFP, adding that three people were also wounded. On its Telegram channel, the terror group said three members had been killed “on the road to Jerusalem,” its term for operatives slain in Israeli strikes. They were named as Bilal a-Din, of the south Lebanon village of Majdel Selm, Abbas Nasser, from Tayr Felsay, a town in the Tyre District, and Hadi Musaa, from Shebaa.
The attack potentially marked the deepest IDF strikes in Lebanon amid the ongoing war, as Hermel is some 130 kilometers (80 miles) from the Israeli border.
It came amid increasing hostilities between Israel and the terror group as the sides appear to march closer to all-out war. Aside from the strike in Baalbek, the IDF said several more Hezbollah targets, including a military compound and two buildings, were struck in southern Lebanon’s Aitaroun. The IDF said the strikes were a response to Hezbollah downing a military unmanned aerial vehicle over south Lebanon on Monday. Hezbollah, in a statement, said it had intercepted a Hermes 900, a large surveillance and attack UAV used by the Israeli military in Lebanon, the West Bank, the Gaza Strip, and other fronts. The IDF said the drone was hit by a surface-to-air missile, and the incident was being investigated. It marked the fifth IDF drone to be shot down by Hezbollah over southern Lebanon amid the war. In all, two Hermes 450 drones and three Hermes 900 models have been downed by the terror group in recent months. Along with the Islamic Resistance in Iraq, Iran-backed groups in Yemen and Syria have claimed to have launched dozens of drones at Israel during the ongoing war sparked by Hamas’s devastating October 7 terror onslaught, while Lebanon’s Hezbollah has attacked communities and IDF positions in northern Israel on a near-daily basis. Iran itself also carried out an unprecedented attack on Israel in April with hundreds of drones and missiles.
Biden’s Disastrous Debate Accelerates Doubts Over Candidacy
President Joe Biden bet that a debate with Republican Donald Trump would boost his moribund reelection campaign. His gamble failed. A weary president looked every day of his 81 years. Instead of proving to voters that he had the stamina for another four year term, everything that could go wrong did. Biden misspoke numerous times, citing incorrect facts and figures from his first answer out of the gate. His remarks were soft-spoken, punctuated by sickly bouts of coughing, and meandering, prone to repetition. He stared into the distance as Trump delivered broadside after broadside, routinely botched scripted attacks on the former president, and froze at the end of one rambling answer. Democrats publicly and privately expressed alarm in the aftermath, with anger bubbling toward a candidate and campaign who have long dismissed concerns over the president’s age and acuity as overblown. It invited questions as to whether the president should remain in the race, though he told reporters later that night he intended to stay on the ticket.
One Democratic lawmaker shortly after the debate, speaking on condition of anonymity, said the president appeared a shell of his former self and that the party must have a conversation about replacing him on the ballot.
Trump, who polls showed with a small but steady lead headed into the night, now appears the clear favorite to capture a second term in the White House. “It was a really disappointing debate performance from Joe Biden. I don’t think there’s any other way to slice it,” Kate Bedingfield, the president’s former communications director, said on CNN. “His biggest issue that he had to prove to the American people was that he had the energy and the stamina, and he didn’t do that A Trump victory would have seismic consequences for US trade policy, the tax system, civil rights and the nation’s relationships with allies and adversaries. Markets were already anticipating the momentum behind Trump. The dollar pushed higher against major peers as the candidates traded barbs, with the Mexican peso and Japanese yen among global currencies weakening. Biden’s team wanted to face-off against Trump in June — the earliest in modern US political history — in order to change the race from a referendum on his presidency into a contrast with his predecessor. Instead, it was Trump, 78, who was able to put Biden on the defensive on the US’s disastrous withdrawal from Afghanistan, the border crisis and inflation. He avoided the type of outbursts that bedeviled his first debate with Biden four years ago when he talked over Biden repeatedly and came across as overly aggressive.
Trump pounced when Biden stumbled. “I really don’t know what he said at the end of that sentence, and I don’t think he knows what he said either,” Trump said in response to one of Biden’s answers about the US-Mexico border. Biden’s mission before one of his biggest audiences of the year was to reassure the public of his strength and stamina, assuage nervous Democrats who were uneasy with the president’s decision to seek reelection and bring them back into his fold. On nearly every front, the president fell short. Biden spent more than a week out of the public eye ahead of the debate preparing with a small cadre of longtime aides who have spent the past year angrily dismissing questions about the president’s mental acuity and age.
Publicly, Democratic elected officials looked to circle the wagon, with likely future presidential aspirants like Michigan Governor Gretchen Whitmer, Illinois Governor JB Pritzker and California Governor Gavin Newsom defending his performance. “Absolutely, he’s our nominee. Nothing changed tonight,” Newsom said. “Quite the contrary. He won on the substance, that’s what matters at the end of the day.”Vice President Kamala Harris said on CNN that “there was a slow start but it was a strong finish.” Biden did pick up steam about 50 minutes into the debate when he called out Trump’s past statements on seeking retribution and then later, when he spoke about Trump’s tax cuts and his handling of the deficit. Biden also tried to land blows on Republicans’ stance on Social Security and Medicare, Trump’s record with Black voters or Trump pulling out of the Paris climate accords. Maria Shriver, scion of the Democratic Kennedy dynasty and one of first lady Jill Biden’s guests at this year’s State of the Union, said “tonight was heartbreaking in many ways.”
“There’s panic in the Democratic party,” she continued in a post on X. “It’s going to be a long night.”
In the proud tradition of many who have had a rough night in Atlanta, Biden left the debate to visit a nearby Waffle House. He told reporters there that he had a sore throat, and acknowledged the perceptions of his performance. NN: See BlackMask Market News and Commentary Titled: Clearly Elderly Abuse.
Israeli Air Force: We are ready to face Hezbollah…… 40 rockets reportedly launched from Lebanon toward Israel
The chief of the Israeli Air Force, Maj. Gen. Tomer Bar said on Thursday that Israel is “ready to face Hezbollah” after defeating Hamas in Gaza. “We are in the midst of the longest war in our history since the War of Independence,” Bar said at a graduation ceremony for IAF pilots. “We have been fighting for almost nine months without respite, tirelessly.” In the same speech, Bar added that the army currently has “the means” and “capabilities” to face Hezbollah, while emphasizing their “patience and fighting spirit.”
40 rockets reportedly launched from Lebanon toward Israel
Around 40 rockets were launched from the Lebanese territory toward northern Israel’s Galilee region, Israeli media reported, citing military sources. According to the reports, some of the rockets were intercepted and shot down by the Iron Dome. There have been no reports of injuries so far. Meanwhile, the Israel Defense Forces (IDF) said on social media that sirens sounded in the city of Safed and northern Israel. Earlier in the day, the head of the Israeli Air Force said the country is “ready to face Hezbollah” after it defeats Hamas in Gaza. NN: war is coming
Crude, Gasoline Build Weigh on Oil Prices
Crude oil inventories in the United States rose this week by 914,000 barrels for the week ending June 21, according to The American Petroleum Institute (API), after analysts had expected a 3 million barrel draw.For the week prior, the API reported a 2.264 million barrel build in crude inventories.
On Tuesday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 1.3 million barrels as of June 21. Inventories are now at 372.2 million barrels—the highest level since December 2022, but still well below the 656 million barrels in inventory in June 2020. Gasoline inventories rose this week, by 3.843 million barrels, after last week’s 1.077-million-barrel decrease. As of last week, gasoline inventories are 1% below the five-year average for this time of year, according to the latest EIA data. Distillate inventories fell this week by 1.178 million barrels, compared to last week’s 538,000-barrel rise. Distillates were about 8% below the five-year average for the week ending May June 14, the latest EIA data shows. Cushing inventories fell this week, according to API data, by 350,000 barrels after rising by 524,000 barrels in the previous week. NN: This inventory build was not suppose to happen. The highest in over 3 years. TO see my conclusion on this development go to BlackMask Market News and Commentary Titled: Oil Inventories Climbing.
Toyota’s global sales down 2.0% in May
Toyota Motor Corporation revealed on Thursday that its global sales, including Toyota, Daihatsu and Hino, decreased by 2.0% in May on an annual basis to reach 888,491 units. Sales in Japan alone nosedived by 20.5%, while foreign sales rose by 2.0% compared to the corresponding month a year earlier. According to the company’s release, global production worsened by 5.0% on a yearly basis, standing at 900,195 units. Output in the home country decreased by 0.4%, and slumped by 7.2% outside of Japan. Exports fell 11.6% in the fifth month of 2024 on an annualized basis to 129,529 vehicles. The company’s car sales fell for the fourth consecutive month due to intensified competition in the Chinese market and the suspension of Prius deliveries following the recall in Japan. Nevertheless, there was a boost in sales in North America and Europe, which helped to offset the impact on overall global sales. NN: Easy to get this wrong. Its the start of the global economic low down.
WH: We continue to work with Netanyahu on ceasefire
White House National Security Communications Advisor John Kirby stated on Wednesday that the United States will continue to work with Israeli Prime Minister Benjamin Netanyahu in helping the latter’s country achieve a new ceasefire with Hamas. Speaking to reporters at a press briefing, Kirby also stressed Washington will continue to deliver the weapons and ammunition that Israel needs. “We want to make sure that they have what they need and that commitment will not waver,” Kirby insisted. Kirby’s comments came amid Israeli Defense Minister Yoav Gallant’s multi-day visit to Washington.
Hamas claims US not actively pressing for ceasefire
Hamas representatives believe that the United States administration is not actively pushing for a ceasefire and hostage deal at the moment, Haaretz reported on Wednesday, citing a Palestinian official. The source said that Hamas expects Washington to start exerting more pressure on Israel after the Israeli military concludes its ground operation in southern Gaza’s city of Rafah and its troops leave the city. Previously, Israeli Prime Minister Benjamin Netanyahu said that the Rafah operation will end soon while stressing that his government is committed to a ceasefire proposal put forth by US President Joe Biden.
EIA: US crude inventories up by 3.591M barrels
Summary of Weekly Petroleum Data for the week ending June 21, 2024
U.S. crude oil refinery inputs averaged 16.5 million barrels per day during the week ending June
21, 2024, which was 234 thousand barrels per day less than the previous week’s average.
Refineries operated at 92.2% of their operable capacity last week. Gasoline production decreased
last week, averaging 9.9 million barrels per day. Distillate fuel production increased last week,
averaging 4.9 million barrels per day.
U.S. crude oil imports averaged 6.6 million barrels per day last week, decreased by 443 thousand
barrels per day from the previous week. Over the past four weeks, crude oil imports averaged
about 7.3 million barrels per day, 13.7% more than the same four-week period last year. Total
motor gasoline imports (including both finished gasoline and gasoline blending components) last
week averaged 762 thousand barrels per day, and distillate fuel imports averaged 133 thousand
barrels per day.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve)
increased by 3.6 million barrels from the previous week. At 460.7 million barrels, U.S. crude oil
inventories are about 2% below the five year average for this time of year. Total motor gasoline
inventories increased by 2.7 million barrels from last week and the same as the five year average
for this time of year. Both finished gasoline and blending components inventories increased last
week. Distillate fuel inventories decreased by 0.4 million barrels last week and are about 9%
below the five year average for this time of year. Propane/propylene inventories increased by 2.1
million barrels from last week and are 11% above the five year average for this time of year.
Total commercial petroleum inventories increased by 8.2 million barrels last week.
Total products supplied over the last four-week period averaged 20.4 million barrels a day, up by
0.8% from the same period last year. Over the past four weeks, motor gasoline product supplied
averaged 9.1 million barrels a day, down by 2.0% from the same period last year. Distillate fuel
product supplied averaged 3.6 million barrels a day over the past four weeks, down by 1.0%
from the same period last year. Jet fuel product supplied was up 0.1% compared with the same
four-week period last year
Biden Faces a Hard Choice to Avert Israel’s Next War
The US must signal to Iran and Hezbollah that an escalation of their fight with Israel will trigger a devastating response. Israel faces several grave decisions in the coming weeks — what to do in Gaza after the fighting in Rafah concludes, how to balance the campaign against Hamas with the quest to free the hostages, whether to move decisively toward normalization with Saudi Arabia. But Israel’s most fateful choice is whether to pivot from one war, against Hamas, to another, against Hezbollah. That simmering conflict is approaching a moment for decision. The best way for President Joe Biden to head off a devastating Israeli war with Hezbollah in Lebanon is to demonstrate that he will back Israel to the hilt. Since Oct. 7, the escalating back-and-forth between Israel and Hezbollah has claimed hundreds of lives and depopulated swaths of northern Israel and southern Lebanon. Although Israel has inflicted perhaps 10 fatalities for each one it has suffered, the government is hardly satisfied with the situation. Tens of thousands of Israelis are still scattered from their homes; the country’s inhabitable territory has, in effect, contracted. Israeli tolerance for that predicament is waning. Benny Gantz, until recently a member of the war cabinet, has said he wants Israelis back in their homes for the start of the school year. Israel is redeploying troops from its south to its north. The cabinet has reportedly blessed a plan to smash Hezbollah’s capabilities — especially its arsenal of perhaps 150,000 rockets — and push it back from the border. But sober-minded observers know this would be a whole new sort of war. Hezbollah’s elite ground forces are better than anything Hamas once boasted. Its missiles could saturate Israel’s Iron Dome defenses, pummel its infrastructure and cause carnage in major cities. The CEO of Israel’s government-owned power company recently warned that Hezbollah attacks could plunge Israel into darkness. And this crisis doesn’t come at a convenient time. Months of tough combat in Gaza have given Israeli troops vital experience but exhausted an army accustomed to short, sharp wars. A war with Hezbollah could also ignite violence in the West Bank, where underfunded Palestinian security forces are near the breaking point. It might even trigger war with Iran, which would be loath to let Israel pummel two key proxies — Hamas and then Hezbollah — in a row. For Biden, this must all seem like a nightmare. Israel would need vast American support — munitions, intelligence, diplomatic backing — against Hezbollah, even while Benjamin Netanyahu seems set on scoring points with his right-wing political allies by picking gratuitous fights with Biden.To be sure, the US would reap strategic benefits from a war that battered Iran’s most capable client. But it would pay a huge price along the way. An expanded conflict would further roil the Middle East and radicalize Arab populations. It would demand new infusions of US aid just as Biden is trying to placate disaffected Democrats by nudging Israel to wind down its current war. It would divert additional US attention and resources from the Pacific and, perhaps, Ukraine. And a more inflamed Middle East would feed the perception of global chaos that darkens Biden’s bid for reelection. This is why Biden has long tried to deter Israel from attacking Hezbollah, even as he tries to deter Hezbollah and Iran from attacking Israel. Today, Biden is seeking, without much success, a Gaza cease-fire that would deprive Hezbollah of a pretext for attacks on Israel, while trying to broker an agreement for a Hezbollah retreat from the border so Israeli civilians can return to their homes. Lasting calm seems unlikely. Many Israelis believe, rightly, that Hezbollah seeks their destruction, and — after the horrors of Oct. 7 — are unwilling to live indefinitely with the threat it poses. But there may nonetheless be an opening for de-escalation. Israel knows that war with Hezbollah would be hellish — and Hezbollah knows that all-out conflict with Israel would be its ruin. The key is ruthless coercive diplomacy. Hezbollah is more likely to pull back, and Iran is more likely to counsel retrenchment, if they are convinced that America will aid Israel resolutely. Biden must make clear that he will give Israel the time and resources it needs to decimate Hezbollah — that there will be no early calls for a cease-fire, and that American bombs and bullets will flow. He should make clear, moreover, that Washington will inflict crushing punishment on Iran if Iran enters the conflict — as a way of convincing Hezbollah that if it fights, it fights alone. Unfortunately, the administration’s body language signals something different — a transparent, almost desperate desire for calm in the run-up to a crucial presidential vote. When Iran attacked Israel in April, for instance, the US — after organizing a successful defense against Tehran’s drones and missiles — pivoted immediately to restraining the Israeli response. The current Israeli government is not the most sympathetic ally: Indeed, Netanyahu and his political allies often seem bent on making their country more difficult to back. Yet America must work with the ally it has, and it must recognize that the path to peace isn’t always linear. As the risks in the Middle East rise, helping Israel make a credible threat of war may be the price of convincing Hezbollah and Iran that they should swerve to avoid it.