Crude oil prices continued their downward streak on Tuesday, with Brent falling more than 5%, after the United States and Iran decided to halt attacks and resume peace negotiations.
Brent for deliveries in September tumbled 5.32% to sell for $83.70 per barrel at 12:00 pm ET. At the same time, West Texas Intermediate (WTI) for the same month’s settlements dipped 4.43%, going for $78.52 per barrel.
More to come…
US President Donald Trump told Fox News in a phone interview on Tuesday that he would “like” to avoid strikes on Iranian bridges and power plants, while adding that Washington held a “very strong position” with Tehran. “The bridges are going to be gone in less than 2 hours, most of the bridges, the major bridges, and the power plants in one day. If I can avoid doing that, I’d like to do that,” he elaborated when asked if he was looking to target such infrastructure. “They know I’m going to do that if they don’t make a deal.” Trump also said Iran’s Pickaxe Mountain nuclear site, where some 970 pounds of enriched uranium are reportedly being stored, was “not a big problem,” while saying that “we took out their nuclear sites, and we’ll have to take out Pickaxe if we don’t make a deal.”
NN: Trump Always Chickens Out
He could be with all his warts and pimples the best president ever. He really grasps the issues and the great danger the democracies of the world are in. The world really needs to end the Iranian reign of terror. Any way it goes you will soon see massivw supply shorteges and $10.00 gasoline when you find some
United States President Donald Trump said on Monday that negotiations with Iran “are going well,” stressing that there is a possibility of reaching an agreement. “There’s a good chance that something could happen,” he told reporters aboard Air Force One. Trump claimed that Iran has requested a meeting with US officials through mediators, adding that the US “will meet them.” “I have plenty of time,” he said. He also addressed US Defense Secretary Pete Hegseth’s handling of the war against Iran, emphasizing that he is “not disappointed,” and adding that Hegseth “has done a great job.” Furthermore, the US president stated that he and Israeli Prime Minister Benjamin Netanyahu have “a little difference” on Iran, but that they are “pretty close.”
United States Central Command (CENTCOM) said on Monday that the military has redirected 17 commercial vessels and disabled another two that were trying to breach the naval blockade against Iran. The military added that its forces also boarded two ships “to ensure compliance” with the blockade. The US officially reinstated the naval blockade against Iran on July 14 after Washington and Tehran resumed hostilities, blaming each other for breaching the memorandum of understanding reached between the two parties previously.
The price of oil continued to fall on Monday, with Brent dropping over 7%, after both Washington and Tehran halted attacks against each other over the weekend. United States President Donald Trump stated that the two parties are currently conducting talks, but that Iran is “not ready” for a deal yet. In addition, Yemen’s Houthis threatened escalation, following Saudi Arabia’s attack on the port of Hodeidah.
West Texas Intermediate (WTI) for deliveries in September fell 6.64% to sell for $83.38 per barrel at 3:00 am ET. At the same time, Brent for the same month’s settlements plunged 7.13%, going for $90.01 per barrel.
Energy Aspects indicates that global oil inventories have been depleted at the fastest pace on record due to disruptions in the Middle East, leading to significant supply tightness. This situation has resulted in elevated prices for certain oil products, despite some recovery in oil flows.
NN: Keep your eye on the money ball. attacks… no attacks,,, nukes no nukes. Its very simple the market is now short 2 billion barrels of oil. And the number grows every day. Show me the freeging oil the world desperately. Trump can’t shit more oil thankyou for your service make America great again. Its very simple oil emergency reserves are drying up the world oil. And unfortunately 70% of the world transportation and electric generation runs on fossil fuels. The ships, planes, trucks, heavy equipment all run on oil. And the factories and farms and high tect all run on productes that can only be sourced from oil and natural gas. So i dont care how much blue sky they are blowing up your ass or how much bullshit you are sucking in from your holes YOU ARE FUCKED ROYALLY!
Their is no fuel coming for your vehicles. No food without fertilizer. No electricity coming down the wire. No chemicals, no plastics no chips without helium, no computers epoxy resin circuit boards, cell phones abs poly carboniate, data centers natural gas or diesel for back up generators, no cell phone towers energy,… Shit they will not be able to manufacture bullets no acetone for manufacturing smokeless powder, no bombs . no epoxy resins to make modern jets no fuel to fly panes. NO RP1 rocket fuel to launch never mind the fossil fuel base binders for the solid boosters. No solar panels becase they use EVA to seal the cells. No electric car batteries no polymer separators for the cells. No epoxy to build electric car motors. No highways and roads because no asphalt, No roofs because no shingles and synthetic rubber membranes. How about car tires no carbon black and no synthetic rubber. No medicines they need benzine, ethaline, propylene, toluene, Ethelene oxide to name a few. In you local hospital no medical grade plastics or the energy to run them. In construction no PVC FOR PIPES. NO fuel to quarry the minerals for aggregates, no fuel for the kilns for cement production. No light sensitive polymers for chip manufacturing. No plastics for cars which is 15% of their construction by weight, not steel or aluminum they use tremendous amounts of fossil fuels. 100% of aluminum production uses fossil fuel based electricity.
Welcome back to 1790.
So tell me about your solar panels, food and chemicals reserves, spare equipment and parts. Are you ready to fight off your starving neighbors. Can you outlast Iran. Did your leaders warn you about the critical shortages? Are you living in a Disney Land bubble?
Iranian army spokesman Amir Akraminia said on Sunday that Tehran paused its retaliatory operations because Washington halted its own strikes over the previous two nights. “Americans stopped their attacks over the past two nights. Since our strategy has been entirely retaliatory, we also stopped our retaliatory operations,” he stated. Akraminia added that US strategy appears confused, citing contradictory signals from US President Donald Trump and the US Central Command (CENTCOM). He warned that any continued US strikes would widen the war, noting that fighting has already reached the Bab el-Mandeb Strait. The spokesman urged clarity from US officials to avoid further regional escalation.
President Donald Trump has increasingly flashed frustration with the war in Iran, as the conflict that his team once predicted would end in a matter of weeks stretches into its fifth month and fighting intensifies. The war’s seemingly intractable new chapter has unleashed fresh economic turmoil and driven up energy prices, which threatens to further imperil Republicans’ already dim prospects in the November midterm elections. Yet since his ceasefire with Iran collapsed, Trump has voiced anger about recent US casualties and expressed skepticism about returning to negotiations. A leader who has long resisted the path of retreat, Trump has now gone into revenge mode against the Islamic Republic, according to one ally who spoke on condition of anonymity to discuss his thinking. The president is frustrated with the state of the war and is looking to exact a toll on Iran, said another person familiar with the matter. The developments show the conflict the US launched alongside Israel in late February has become more than Trump bargained for. The president in March declared his in-and-out operation in Venezuela was the “perfect scenario” for Iran. That same month, Defense Secretary Pete Hegseth insisted the US was not getting bogged down in “a forever war or a quagmire.” Nonetheless, the president’s months-long efforts to pressure Tehran into negotiations have failed to yield a lasting peace. The unpopular conflict now threatens to become a defining feature of Trump’s presidency. He posts about it frequently on social media and mentions it in almost all of his public appearances. During an event Thursday at the Environmental Protection Agency, he suggested he had to leave for a White House meeting about next steps. Trump told attendees that he had built the “greatest military anywhere in the world” and conceded “we’re using it a little more than I thought, but that’s alright.” He told reporters on Friday that he had not yet made a decision on whether to launch new major strikes.
Continue reading “Trump Seethes as Iran War Spirals Anew With No End in Sight”
Iran is preparing a new list of targets inside Israel in case the conflict between the two countries resumes, Al-Jazeera reported on Saturday, citing an Iranian security source. According to the source, the new targets would be those that could not be repaired or rebuilt for years, and targeting them would “accelerate emigration from Israel.” The report comes after Iranian officials warned that any attack on Pickaxe Mountain, an underground fortified facility currently under construction, located near Iran’s Natanz nuclear complex, would trigger a heavy response, including strikes on Israel, even if the United States carried out the attack without Israeli help. US President Donald Trump previously warned that US forces will “be hitting that area very probably pretty soon,” as the site is suspected to host parts of Iran’s enriched uranium.
Iran’s Islamic Revolutionary Guard Corps (IRGC) said in a statement on Friday its forces targeted a United States military base, including several fighter jets, in Jordan in the latest attacks, adding that many American soldiers were wounded and killed. The IRGC went on to claim that a US base, as well as a Patriot air defense system and a spy balloon, at Erbil Air Base in Iraq’s Kurdistan region, were “destroyed.” Furthermore, the IRGC insisted that the US administration is hiding the exact number of servicemen killed so far in the war against Iran.