U.S. diesel prices have surged above $6.50 per gallon, as lost Middle Eastern and Russian fuel supplies collide with limited global refining capacity. Washington is debating a diesel export ban to ease domestic prices, but opponents warn it could worsen the global shortage and potentially trigger similar restrictions elsewhere. Europe is particularly vulnerable, having closed …
US President Donald Trump said his officials had “very good” talks with Iranian envoys in New York, reviving hopes for a diplomatic off-ramp hours after he threatened to “annihilate” the country’s ruling regime. Steve Witkoff, a Trump envoy, and Jared Kushner, the president’s son in law, participated on behalf of the US. Witkoff said the …
United States President Donald Trump confirmed on Tuesday that Special Envoy to the Middle East Steve Witkoff and Special Envoy for Peace Missions Jared Kushner met earlier in the day with mediators regarding an agreement with Iran.”The mediators were here, not at the highest level, but it’s something. We had a lot of good thoughts, …
Continue reading “Trump confirms talks with mediators on Iran deal”
The New York Times reported that the Trump administration had prepared to launch airstrikes on Sunday against the Houthis after fresh pleas from the Saudi crown prince. But the newspaper said Trump called off the airstrikes at the last minute, even as troops were loading bombs onto aircraft. Rashid al-Alimi, the Riyadh-based president of Yemen’s …
Oil futures rose more than 1% on Tuesday as concerns over escalating tensions between the US and Iran added to geopolitical risk premiums. Yesterday, US Treasury Secretary Scott Bessent told CNBC that all Iranian airlines will be “shut down” starting Wednesday, with the measures including a ban on airports, fuel suppliers, ticketing agencies, and …
Continue reading “Oil up by 1% as US tightens pressure on Iran”
The Moscow Oil Refinery was hit during drone attacks that were part of the largest Ukrainian barrage this year. Russia’s Defense Ministry said it downed 1,110 Ukrainian drones across 19 regions of Russia as well as in Crimea. The refinery strike damaged a facility at the site, with the Ukrainian General Staff saying the AVT-6 …
Continue reading “Moscow Refinery Hit as Russia Reports Largest Drone Attack”
United States President Donald Trump decided not to go ahead with the plan to launch large-scale strikes against Yemeni Houthis for now, after being cautioned by allies that it would risk opening another front in the Middle East, the New York Times reported. According to the report, Trump (TACO) vacillated between ordering the strikes and avoiding confrontation …
Continue reading “Trump said to call off strikes on Houthis for now TACO…Again!”
Crude oil prices fell on Monday as traders monitored the potential recovery of Saudi oil shipments following missile and drone attacks by Iran-backed Houthi forces on Saturday. JPMorgan analysts said in a September 18 note that Middle East oil flows remained “surprisingly strong” despite disruption to Saudi Arabia’s East-West pipeline, while US Central Command chief …
Continue reading “Oil falls 2% with Saudi export recovery in focus”
The Iranian Armed Forces’ Central Command stated that it received information about the United States planning to resume its “actions” against Iran, and warned that Tehran will retaliate, Iran’s state media outlet IRIB News reported on Sunday. “We warn that if the US commits any act of aggression against the Islamic Republic of Iran, all …
United States President Donald Trump signed into law the Russian sanctions bill sponsored by late Senator from South Carolina Lindsay Graham. The legislation allows the president to impose tariffs of up to 100% on the five largest buyers of Russian oil, with China and India poised to feel the biggest impact, as both nations continue to …
Continue reading “Trump signs Russia sanctions bill into law”