The Yemen-based Houthis announced on Monday that they launched attacks on multiple key sites in Israel in retaliation for Israeli military actions. In a statement on X, Houthi military spokesman Yahya Sarae detailed the strikes, citing the use of a “Palestine 2” hypersonic ballistic missile against Lod Airport, along with drone attacks on Ashdod Port, the Ashkelon area power facility, and Umm al-Rashrass Port. Previously, Israeli forces reported conducting aerial assaults on various Houthi military installations in Yemen, targeting Hodeidah, Ras Isa, and Salif ports, plus the Ras Khatib power facility.
Trump Says ‘Good Chance’ Of Hostage Deal With Hamas ‘During The Week’
MORRISTOWN, United States — US President Donald Trump said on Sunday there was a “good chance” of a hostage deal with Hamas “during the week,” ahead of his upcoming meeting with Israel’s Benjamin Netanyahu. “I think there’s a good chance we have a deal with Hamas… during the coming week,” Trump told reporters amid mounting pressure on the Israeli prime minister to agree to a ceasefire and end the war in Gaza after almost two years.
Netanyahu said Sunday he hoped his talks in Washington could “help advance” a Gaza ceasefire deal.
Trump and Netanyahu are scheduled to meet at the White House on Monday — the Israeli prime minister’s third visit since Trump returned to power in January. Indirect negotiations between Israel and Hamas were underway in Qatar Sunday. “We’ve gotten a lot of the hostages out, but pertaining to the remaining hostages, quite a few of them will be coming out,” Trump added. He said the United States was “working on a lot of things” with Israel, including “probably a permanent deal with Iran.” Trump also repeated claims that US strikes “obliterated” Iran’s nuclear facilities during the 12-day Iran-Israel conflict. Since the start of Israel’s war against Hamas in Gaza, mediators have brokered pauses in fighting during which hostages were freed in exchange for Israel-held Palestinian prisoners. Of the 251 hostages taken by Palestinian militants during the October 2023 attack, 49 are still being held in Gaza, including 27 the Israeli military says are dead.
NN: they might get a temporary ceasefire. Peace never!
Hebron sheikhs wish to join Abraham Accords
A group of five leading sheikhs in the Hebron district of the Palestinian Authority penned a letter to the Israeli Economy Minister, Nir Barkat, expressing a wish to join the Abraham Accords and have peace with Israel, the Wall Street Journal reported.
“The Emirate of Hebron shall recognize the State of Israel as the nation-state of the Jewish people,” the letter states, adding that “the State of Israel shall recognize the Emirate of Hebron as the representative of the Arab residents in the Hebron District.”
The letter states that the proposed agreement is “fair and decent” and will replace the:
Oslo Accords, which it says “only brought damage, death, economic disaster and destruction.”
NN: I GUESS they found a few working brain cells. They summed up very nicely what their choices are.
OPEC+ to boost output by 548K bpd in August….As excepted
The Organization of the Petroleum Exporting Countries (OPEC) and its allies announced on Saturday that the organization agreed to to increase oil production by 548,000 barrels per day in August. “The gradual increases may be paused or reversed subject to evolving market conditions. This flexibility will allow the group to continue to support oil market stability,” OPEC+ countries stated in the announcement. The group of eight countries will meet on 3 August this year to discuss and decide on production levels September.
NN: YAWN!!!
Kiev: Russian strike causes Zaporizhzhia nuclear site blackout
IAEA pulls last team of inspectors out of Iran under threat of arrest.
The United Nations atomic watchdog is said to have pulled its last remaining inspectors out of Iran following the implementation of a new law that criminalizes international monitoring, deepening the blackout over Tehran’s nuclear program. The last International Atomic Energy Agency specialists were safely withdrawn from Tehran on Friday to the Vienna-based agency, according to a western diplomat, who asked not to be identified discussing sensitive information.
It’s the first time since Iran began enriching uranium two decades ago that IAEA monitors — who conducted almost 500 inspections in the Islamic Republic last year — have been expelled from the country.
The withdrawal is likely to draw swift rebukes from Western governments, which have been urging Tehran to allow a resumption of IAEA visits since a ceasefire in the Israel-Iran war last month. Instead, the Israeli decision to bomb nuclear sites and military targets on June 13 has effectively put up a barrier, ending oversight of whether Iran is capable of developing a weapons program.
The 274 IAEA monitors accredited to conduct inspections had been verifying the location of Iran’s 409 kilograms (902 pounds) of near-bomb-grade uranium, which is now unknown. Iran has accused the watchdog of being complicit in Israel’s attack against its nuclear installations, a charge IAEA Director General Rafael Mariano Grossi has denied. Tehran’s envoy in Vienna said the strikes, which US forces joined on June 22, have caused irreparable harm to the nuclear Non-Proliferation Treaty, the international agreement that allows non-weapons states access to nuclear technologies in return for IAEA inspections. While Iran has yet to leave the NPT, it can argue it’s legally entitled to suspend monitoring under provisions of the Vienna Convention on the Law of Treaties, which allows signatories to withdraw cooperation if their rights have been breached. It’s widely established internationally that attacks against nuclear facilities break legal norms. Whether Iran’s legal arguments gain purchase at the IAEA or beyond may influence whether or not the ceasefire between the Persian Gulf nation and Israel holds.
Fighting stopped on June 24 after 12 days, but neither side has ruled out resuming hostilities. To help deter against a renewed assault, Iran could use uncertainty over the whereabouts of its highly enriched uranium to try to dictate events.
For the US and Israel to gain knowledge of the state and location of the stockpile, physical inspections and verification will need to be carried out, most likely via negotiated access for the IAEA.
Oil Slips as US Plans Iran Talks……Again!
Oil declined after Axios reported the US plans to restart nuclear talks with Iran, reducing the risk of another flare-up in the Middle East conflict .HaHaHa
The news service said US Middle East envoy Steven Witkoff plans to meet with Iranian Foreign Minister Abbas Araghchi in Oslo next week. That followed a statement from Iran’s top diplomat that the country would continue to engage with the UN’s nuclear watchdog. Crude prices have been buffeted by geopolitical events in recent weeks, first surging after the escalation that included direct US strikes in Iran then declining after Tehran’s retaliation was dismissed as largely symbolic. Renewed negotiations over Iran’s nuclear program would further reduce oil’s already-diminished risk premium. Oil’s slump on Thursday also may have been amplified by low liquidity ahead of Friday’s July Fourth holiday in the US.
The Middle East developments squelched some earlier strength in prices that was driven by US jobs data showing stronger-than-expected additions in June. Equity markets rose and the dollar gained, making commodities priced in the currency less appealing.
The US also took fresh steps to restrict the trade of Iranian oil, including sanctions on companies and a “shadow fleet” of vessels that help Iran export its crude.
Oil had rallied on Wednesday against the backdrop of a market flashing pockets of strength. Diesel’s premium to crude in the US earlier hit the biggest in 15 months after stockpiles of the fuel continued to decline. Spreads on the nearest crude contracts are also pointing to tight supplies, with stockpiles at the key storage hub of Cushing, Oklahoma, sliding.
The continued outlook for supply dynamics, however, depends on a meeting between the Organization of the Petroleum Exporting Countries and its allies on Sunday. The group has begun discussing another 411,000 barrel-a-day production increase and is largely expected to agree to the significant supply increase, but may move back from the accelerated production increases if prices dip into the $50-a-barrel range, according to Citigroup Inc.
“We believe we are on the brink of rolling into more structural softness over the next few months,” said Helge Andre Martinsen, senior energy analyst at DNB Bank ASA, led by a seasonal and structural decline in oil demand growth and OPEC+ continuing with its large output hikes.
Trump says Iran wants to talk, hints at meeting if needed
United States President Donald Trump told reporters before leaving for Iowa that Iran wants to start talks and he believes it is the right time. “Iran does wanna speak and I think they’d like to speak to me and it’s time that they do,” Trump said. He stressed that the US does not want to harm Iran but wants to see it “be a country again” after facing serious challenges. Trump added that Iran had been “beat up really bad” and suggested he is open to a meeting if needed. His comments come as tensions between Washington and Tehran remain high, with the US recently launching strikes on Iranian nuclear sites.
NN: See yesterdays BlackMask Pod Cast titled:
Savages At The Gate With Nukes
Oil slips 1% with OPEC+ meeting in focus
The prices of crude oil dipped by more than 1% on Friday, continuing their downward trajectory from yesterday, as investors digested the reports of a potential output increase at the next meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, which was moved to Saturday. The markets also reacted to easing tensions regarding Iran, after the country’s Foreign Minister Abbas Araghchi reaffirmed Tehran’s commitment to the Non-Proliferation Treaty (NPT) and United States President Donald Trump’s claims that Iran wants to speak to him, hinting at a potential future meeting.
West Texas Intermediate (WTI) for August’s settlements declined by 1.13% at 5:31 am ET, going for $66.24 per barrel. Meanwhile, Brent for September’s deliveries slipped by 1.21% and sold for $67.98 per barrel at 5:32 am ET.
NN: As you know today is the 4th of July with US markets closed. I pay little attention to range bond trading in very low volume markets…,
Iran: No retaliation against US, enrichment continues
Iran has no plans to strike back at the United States but will push ahead with its nuclear program, Deputy Foreign Minister Majid Takht-Ravanchi said in an interview published Thursday by NBC. “As long as there is no act of aggression being perpetrated by the United States against us, we will not respond again,” While Tehran supports diplomacy and is open to dialogue, Takht-Ravanchi stressed that Washington must first guarantee it will not resort to military threats during talks. the minister explained. According to him, Iran is “ready to engage with others to talk about the scope, the level, the capacity” of its enrichment program.