A massive blaze erupted in Bahrain Petroleum Company (BAPCO) facilities on Thursday following a new wave of Iranian strikes against the Gulf country. The Iranian leadership announced it would target sites to inflict “maximum economic pain” on countries hosting US forces or supporting the coalition with Israel. Following the threat made on March 2, drones and missiles struck energy infrastructure across the Middle East, including the United Arab Emirates, Saudi Arabia, Qatar, and Kuwait.
Six injured in drone attack on Abu Dhabi
Six people were injured in a drone attack in the United Arab Emirates, the Abu Dhabi Media Office said on Thursday. The office said they are Pakistani and Nepali citizens and that their injuries, sustained from falling debris, are “minor and moderate.” Earlier today, air defense systems intercepted drones in two locations in Abu Dhabi. The local authorities did not release any information on the damage caused by the attacks.
NN: Further signs of Irans escalation making this a oil war.
Iran could run out of ballistic missiles in days
The Iranian military likely only has several days’ worth of ballistic missiles left, the Wall Street Journal reported on Wednesday, citing anonymous Western officials. The claims resemble statements made by United States Defense Secretary Pete Hegseth, who said that Iran’s capabilities are “evaporating by the hour.” The report was based on Iran’s decreasing frequency of ballistic missile strikes, indicating that attacks by the US and Israel on Iranian manufacturing and storage facilities have been successful. However, a source said that Iran could be “holding back missiles so its operations can last longer.”
NN: Soon the only weapons they will have left will be sticks and stones. Until then the straights will stay closed.
Iran: We have no intention of negotiating with US
Senior aide to late Iranian Supreme Leader Ayatollah Ali Khamenei and former First Vice President Mohammad Mokhber (pictured) said on Wednesday that there would be no negotiations with the United States. “We have no trust in the Americans and have no intention of negotiating with the US. We can continue the war for as long as necessary, just as we did in the eight years of the Sacred Defense [The Iran-Iraq War],” he said on state television, adding that Washington does not seek to conquer Iran, but to divide it. Additionally, yesterday’s reports claimed that Khamenei’s eldest son, Mojtaba Khamenei, would be his successor and serve as the country’s next supreme leader.
Iran said to have contacted CIA indirectly over weekend
Iran’s Ministry of Intelligence reached out to the United States Central Intelligence Agency (CIA) through another country’s spy agency one day after the US and Israeli attacks began to discuss terms for ending the conflict, The New York Times reported on Wednesday, citing Middle Eastern officials and officials from a Western country briefed on the outreach. According to the report, the US officials are “sceptical” of either US President Donald Trump or the Iranian surviving leadership being ready to make a deal, while Israeli officials reportedly urged Washington to ignore Iran’s outreach.
Meanwhile, the US president said yesterday that even though Iran’s authorities want to talk, he told them that it is “Too Late!”
Oil is Iran’s Weapon of Choice
In a Skandinaviska Enskilda Banken AB (SEB) report sent by the SEB team on Tuesday, SEB Chief Commodities Analyst Bjarne Schieldrop warned that “oil is Iran’s weapon of choice, and the U.S. gasoline pump is part of the battlefield”
. “Iran’s Revolutionary Guard Corps last evening declared the Strait of Hormuz for closed and that the military will set any ship on fire if it tries to pass the Strait,”
“Iran is also escalating its retaliatory strikes across the region. Yesterday it was mostly unclear what retaliatory path Iran would take. Would oil, oil installations, and the Strait of Hormuz be part of it or left alone? Now we know,” he added. “Oil is Iran’s weapon of choice and it is aimed straight at President Trump’s Midterm elections. An important part of the battlefield for Iran is thus at the U.S. gasoline pump,” he continued. Schieldrop warned in the report that Brent is now unavoidably heading to $100 per barrel and above “unless Trump finds some kind of offramp, or in other words backs down”. “So far however, his response seems to be to double down. Extending the expected 4-5 weeks to instead ‘whatever it takes’. He is digging in. And while he is doing that, the U.S. retail gasoline prices shoot higher,” he added. Schieldrop stated in the report that Iran may not be able to keep the Strait of Hormuz fully closed but added that “constant risk of strikes, and thus choking and reduced flow, will do plenty good to spike the oil price higher”. According to the AAA Fuel Prices website, the average regular gasoline price in the U.S. is $3.109 per gallon, as of March 3. Yesterday’s average was $2.997 per gallon, the week ago average was $2.951 per gallon, the month ago average was $2.883 per gallon, and the year ago average was $3.097 per gallon, the site showed. In a blog posted on its website on March 2, GasBuddy noted that, according to its data, the U.S. average price of gasoline “has risen 5.6 cents over the last week and stands at $2.94 per gallon”. “The national average is up 7.8 cents from a month ago and is 10.1 cents per gallon lower than a year ago,” GasBuddy added in the blog. The company pointed out in the blog that the most common U.S. gas price encountered by motorists stood at $2.79 per gallon, which it said was up 10 cents from a week ago. GasBuddy stated in the blog that the median U.S. gas price is $2.79 per gallon, which it noted was up four cents from last week and about 15 cents lower than the national average.
“The national average price of gasoline has climbed for a fourth straight week, driven primarily by seasonal tightening and broader market dynamics,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in the blog.
“Looking ahead, markets will now begin reacting to this weekend’s U.S.-Iran attacks, which have elevated geopolitical risk premiums even in the absence of immediate supply disruption,” he added. “Oil prices have firmed as traders assess the potential for further escalation, and while fundamentals such as inventories and refinery activity remain important anchors, the risk of broader instability – particularly involving key transit routes – has injected fresh uncertainty into energy markets,” he continued.“In the week ahead, gasoline prices are likely to face heightened upward pressure as seasonal trends continue and markets navigate this evolving geopolitical landscape, with the national average poised to reach the $3 per gallon mark for the first time this year,” De Haan went on to state.
NN: I firmly believe Brent will hit at least $100 a barrel
Trump: Iran would’ve made nukes in 1 month, with no US strikes
United States President Donald Trump stressed on Tuesday that if Washington didn’t strike Iran’s nuclear sites in 2025, the country would have made “a very powerful nuclear weapon within one month.” Speaking to reporters, Trump insisted that Iran is “evil,” saying that its regime killed 35,000 of its citizens. “Iran is a bad seed. Something had to be done,” he remarked. Talking about energy in relation to the current war with Iran, the US head of state said that it is true that it is affecting both oil and gas, further noting that he hopes the end to the situation will come “as soon as possible,” so that prices could drop.
Oil up, Brent reaches $85
Crude oil prices continued to surge on Tuesday due to supply risks driven by the Middle East conflict, with European benchmark Brent surpassing $85 per barrel for the first time since July 2024. Brent for deliveries in May jumped 7.19% and went for $84.85 per barrel at 6:23 am ET, while West Texas Intermediate (WTI) for settlements in April gained 7.69%, going for $77.33 per barrel.
Drones strike fuel tank at Omani port
The Omani port of Duqm was targeted by several drones on Tuesday, with one of them hitting a fuel tank, according to the state news agency Oman Observer, citing security sources. The damage to the tanker was brought under control without any casualties, and the authorities condemned the attack, noting that “necessary measures” will be taken to deal with the incident. The port was previously targeted on Sunday, with drones attacking a mobile worker accommodation unit and injuring one of the workers, without causing material damage to any of the fuel tanks.
NN: The wounded lion is in its death throes, violently lashing out. Soon the beast will be dead. Between now and hat happy day gas and oil prices will soar!
European gas prices soar 33%
European natural gas prices experienced a surge on Tuesday, driven by a joint combination of factors stemming from escalating tensions in the Middle East. Following the start of US and Israeli attacks in the region, the Strait of Hormuz was formally closed and China issued urgent safety recommendations for vessels, while Qatari LNG exports remained completely halted. The market reacted to these risks, which threaten a critical artery for global energy trade.
For April contracts, Dutch TTF natural gas futures surged 29.9% to €57.840 per megawatt hour, at 8:54 am CET. For the same month’s deliveries, the UK natural gas futures skyrocketed by 33.92% to 147.430 pence per therm at 8:54 am CET. am CET.
NN: European gas reserves are below 25% of capacity depleted because of winter gas heating season. These are critical low. The scramble for supplies is on. Europe has vast untapped gas supplies. Thank you greeniewinnies fagots woke asshioles commie Iran and Hamas supporters.
They are having bad times since their evil agenda is literally blowing up in their faces…
More to come…