1 hr. ago
WASHINGTON (AP) — U.S. forces struck Iranian rocket launchers on the Strait of Hormuz in their first military action in a month on Sunday, breaking a lull in fighting during an intermittent war that has lasted more than six months. Iran swiftly vowed to retaliate for what it called a deadly attack.
Forces with the Revolutionary Guard Corps were observed preparing to launch rockets with sea mines into the strait, according to Tim Hawkins, a spokesperson for the U.S. Central Command. The U.S. military last week completed clearing sea mines from the strait's international shipping routes.
Semiofficial news outlets in Iran reported sounds of explosions near Larak island on the strait. The Guard in a statement carried by Iran's state broadcaster noted "the martyrdom and injury of several of our fighters and compatriots."
Later, Iranian state television showed what it said were ballistic missiles being fired by Iran at U.S. bases in Jordan in response to the American strikes. Jordan's armed forces said they intercepted eight missiles that penetrated the country's airspace early Monday.
A return to open conflict would be dangerous for the region, where Iran has targeted U.S. military bases and infrastructure in Gulf countries since the war began on Feb. 28.
#missiles
Forces with the Revolutionary Guard Corps were observed preparing to launch rockets with sea mines into the strait, according to Tim Hawkins, a spokesperson for the U.S. Central Command. The U.S. military last week completed clearing sea mines from the strait's international shipping routes.
Semiofficial news outlets in Iran reported sounds of explosions near Larak island on the strait. The Guard in a statement carried by Iran's state broadcaster noted "the martyrdom and injury of several of our fighters and compatriots."
Later, Iranian state television showed what it said were ballistic missiles being fired by Iran at U.S. bases in Jordan in response to the American strikes. Jordan's armed forces said they intercepted eight missiles that penetrated the country's airspace early Monday.
A return to open conflict would be dangerous for the region, where Iran has targeted U.S. military bases and infrastructure in Gulf countries since the war began on Feb. 28.
#missiles
1 day ago
BERLIN, Aug 29 (Reuters) - Finland's President Alexander Stubb said he did not believe Russia would risk an attack against a NATO country, telling Germany's Bild newspaper it would "make no sense" to test the resolve of the alliance.
Western officials have warned of a growing risk of Russian hybrid operations, including cyber attacks, against European countries potentially leading to a direct confrontation with the NATO alliance. German officials have said they ******* s Russia would be in a position to attack a NATO country by 2029.
"If anyone has a crystal ball like that – that's great. I simply see neither evidence nor facts to support it," he told Bild in an interview published on Saturday, adding he did not believe that Russia "would ever want to attack NATO, the world's most powerful military alliance."
Stubb, whose country joined NATO in 2023, abandoning its previous policy of neutrality following Russia's invasion of Ukraine a year earlier, said the alliance had to be prepared for any scenario but he did not believe Moscow was in a position to go to war with NATO.
He said NATO's strength in conventional weapons, missiles and nuclear weapons was too strong to attack, adding that he had intelligence information to back his ******* sment.
#Russia #believe #country #officials
Western officials have warned of a growing risk of Russian hybrid operations, including cyber attacks, against European countries potentially leading to a direct confrontation with the NATO alliance. German officials have said they ******* s Russia would be in a position to attack a NATO country by 2029.
"If anyone has a crystal ball like that – that's great. I simply see neither evidence nor facts to support it," he told Bild in an interview published on Saturday, adding he did not believe that Russia "would ever want to attack NATO, the world's most powerful military alliance."
Stubb, whose country joined NATO in 2023, abandoning its previous policy of neutrality following Russia's invasion of Ukraine a year earlier, said the alliance had to be prepared for any scenario but he did not believe Moscow was in a position to go to war with NATO.
He said NATO's strength in conventional weapons, missiles and nuclear weapons was too strong to attack, adding that he had intelligence information to back his ******* sment.
#Russia #believe #country #officials
3 days ago
On August 17, the U.S. military awarded RTX Corporation (NYSE:RTX)'s Raytheon business a $22.9 billion contract to accelerate the production of Tomahawk missiles, a mainstay of the Navy's fleet.
The development comes as the United States scrambles to replenish depleted stockpiles after using and providing allies with munitions to use during the conflict with Iran, raising concerns about the inventories of critical weapons.
Pixabay / Public Domain
The company said in a statement that the contract would run for seven years and boost the annual output of Tomahawk missiles to 1,000 units, up from its current level of 60 a year.
The award, which is part of the 'Arsenal of Freedom' push, cements a framework agreement Raytheon signed with the Pentagon in February to expand the production rates of Tomahawks, AMRAAM air-to-air missiles, and SM-3 Block IB and SM-3 Block IIA ballistic missile interceptors.
#tomahawk #production #august
The development comes as the United States scrambles to replenish depleted stockpiles after using and providing allies with munitions to use during the conflict with Iran, raising concerns about the inventories of critical weapons.
Pixabay / Public Domain
The company said in a statement that the contract would run for seven years and boost the annual output of Tomahawk missiles to 1,000 units, up from its current level of 60 a year.
The award, which is part of the 'Arsenal of Freedom' push, cements a framework agreement Raytheon signed with the Pentagon in February to expand the production rates of Tomahawks, AMRAAM air-to-air missiles, and SM-3 Block IB and SM-3 Block IIA ballistic missile interceptors.
#tomahawk #production #august
4 days ago
By Samia Nakhoul
BEIRUT, Aug 27 (Reuters) - The Iran war has reached its endgame: a costly stalemate.
Six months after U.S. and Israeli forces attacked Iran, killing its supreme leader and maiming his son and successor, the Iranian government is under economic siege, but it still holds power and believes it has time on its side.
A threat by U.S. President Donald Trump to impose crippling new sanctions on Iran faces a fundamental problem: Tehran is betting he will not take the final step to break the stalemate - aggressively enforcing secondary sanctions on the countries keeping its economy afloat, foremost among them China and India.
Washington's latest measures, announced on Monday, mark a new phase in the conflict that began on February 28, shifting the battlefield from missiles and airstrikes to Iran's oil revenues, banks and trading partners.
#israeli
BEIRUT, Aug 27 (Reuters) - The Iran war has reached its endgame: a costly stalemate.
Six months after U.S. and Israeli forces attacked Iran, killing its supreme leader and maiming his son and successor, the Iranian government is under economic siege, but it still holds power and believes it has time on its side.
A threat by U.S. President Donald Trump to impose crippling new sanctions on Iran faces a fundamental problem: Tehran is betting he will not take the final step to break the stalemate - aggressively enforcing secondary sanctions on the countries keeping its economy afloat, foremost among them China and India.
Washington's latest measures, announced on Monday, mark a new phase in the conflict that began on February 28, shifting the battlefield from missiles and airstrikes to Iran's oil revenues, banks and trading partners.
#israeli
4 days ago
MOSCOW, Aug 27 (Reuters) - Russia warned on Thursday that it could strike British military targets inside and outside Ukraine in response to Ukrainian attacks on targets inside Russia using long-range British cruise missiles.
The warning, delivered by Russian Foreign Ministry spokeswoman Maria Zakharova at a news briefing in Moscow, was the strongest of is kind yet from Russia to Britain, a NATO member state and a staunch ally of Ukraine.
Zakharova said London was "one step away" from becoming legally complicit in what she called "terrorism" against Russian civilians, something she said would have "catastrophic consequences" unless Britain changed course.
"We have repeatedly warned that any British military installations and equipment in Ukraine and beyond its borders could be targeted in response to Ukrainian strikes on Russian territory carried out using British weapons," she said.
"We propose that the British leadership once again carefully **** yse the situation and immediately, in the most resolute and unequivocal manner, abandon the hostile, aggressive line, which can only ... create the risk of the conflict escalating to an entirely new level," she said.
#russian
The warning, delivered by Russian Foreign Ministry spokeswoman Maria Zakharova at a news briefing in Moscow, was the strongest of is kind yet from Russia to Britain, a NATO member state and a staunch ally of Ukraine.
Zakharova said London was "one step away" from becoming legally complicit in what she called "terrorism" against Russian civilians, something she said would have "catastrophic consequences" unless Britain changed course.
"We have repeatedly warned that any British military installations and equipment in Ukraine and beyond its borders could be targeted in response to Ukrainian strikes on Russian territory carried out using British weapons," she said.
"We propose that the British leadership once again carefully **** yse the situation and immediately, in the most resolute and unequivocal manner, abandon the hostile, aggressive line, which can only ... create the risk of the conflict escalating to an entirely new level," she said.
#russian
5 days ago
Last month, MP Materials (NYSE: MP) signed an agreement to supply gadolinium oxide (a key rare-earth material found in nuclear reactor shielding on submarines and infrared sensors and electronics) to an unnamed U.S. aerospace and defense manufacturer. Management expects the contract to be worth nine figures over multiple years, with MP developing the additional separation capacity at its Mountain Pass facility in California.
Now, the company hasn't disclosed the customer or the specific size of the contract, but management described the deal as significant. And while I'm not typically keen on ambiguity, the announcement of this deal does provide some interesting intel about demand.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
You see, American aerospace and defense companies rely heavily on rare-earth materials for everything from aircraft and missiles to radar systems, satellites, and drones. The problem is that China controls much of the world's rare-earth processing and manufacturing capacity. That's a vulnerability the U.S. government has been trying to eliminate.
MP Materials already operates a mine and processing facility in Mountain Pass, California, and it's expanding further in Texas, where it currently produces rare-earth metals and magnets in Fort Worth. The company is actually building a much larger magnet manufacturing campus in nearby Northlake.
#earth #california #management
Now, the company hasn't disclosed the customer or the specific size of the contract, but management described the deal as significant. And while I'm not typically keen on ambiguity, the announcement of this deal does provide some interesting intel about demand.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
You see, American aerospace and defense companies rely heavily on rare-earth materials for everything from aircraft and missiles to radar systems, satellites, and drones. The problem is that China controls much of the world's rare-earth processing and manufacturing capacity. That's a vulnerability the U.S. government has been trying to eliminate.
MP Materials already operates a mine and processing facility in Mountain Pass, California, and it's expanding further in Texas, where it currently produces rare-earth metals and magnets in Fort Worth. The company is actually building a much larger magnet manufacturing campus in nearby Northlake.
#earth #california #management
7 days ago
SEOUL, Aug 24 (Reuters) - South Korea's Defence Ministry said North Korea was continuing preparations for an additional troop deployment to Russia, but had detected no signs that such a deployment was imminent, according to a South Korean lawmaker's office.
The ****** sment came after North Korea's Kim Yo Jong, sister of leader Kim Jong Un, last week denied Ukrainian President Volodymyr Zelenskiy's claim that Pyongyang planned to send up to 50,000 more troops to Russia to fight for its ally.
South Korea's Defence Ministry said in a statement to lawmaker Yu Yong-weon that North Korea had continued to supply Russia with weapons systems, including short-range ballistic missiles, according to Yu's office.
North Korea is estimated to have supplied Russia with more than 15 million rounds of artillery ammunition, measured in 152-millimetre shell equivalents, it said.
The lawmaker's office, citing a South Korean Defense Intelligence Agency ****** sment, said North Korean missiles used in the war may have improved in accuracy through battlefield data, alongside Russian technical advice and component support.
#office #jong
The ****** sment came after North Korea's Kim Yo Jong, sister of leader Kim Jong Un, last week denied Ukrainian President Volodymyr Zelenskiy's claim that Pyongyang planned to send up to 50,000 more troops to Russia to fight for its ally.
South Korea's Defence Ministry said in a statement to lawmaker Yu Yong-weon that North Korea had continued to supply Russia with weapons systems, including short-range ballistic missiles, according to Yu's office.
North Korea is estimated to have supplied Russia with more than 15 million rounds of artillery ammunition, measured in 152-millimetre shell equivalents, it said.
The lawmaker's office, citing a South Korean Defense Intelligence Agency ****** sment, said North Korean missiles used in the war may have improved in accuracy through battlefield data, alongside Russian technical advice and component support.
#office #jong
11 days ago
The United Arab Emirates suspended all trade, commercial exchanges and financial transactions with Iran after accusing Tehran of firing ballistic missiles toward maritime traffic.
The action severs one of the Islamic Republic's most important commercial and financial links and threatens to close off an economic route President Donald Trump's sanctions have struggled to reach. It also further deepens Iran's isolation amid its standoff with the U.S.
The UAE supplied 31% of Iran's imports, valued at roughly $21 billion, in 2024, and was the destination for 13% of its exports, according to World Trade Organization trade data.
Iran Deal Clock Hits Zero As Trump Demands 'White Flag' With New Pressure Campaign Looming
Miad Maleki, a senior fellow at the Foundation for Defense of Democracies and former Treasury official, said the UAE is one of Tehran's two key economic lifelines.
#trade #islamic
The action severs one of the Islamic Republic's most important commercial and financial links and threatens to close off an economic route President Donald Trump's sanctions have struggled to reach. It also further deepens Iran's isolation amid its standoff with the U.S.
The UAE supplied 31% of Iran's imports, valued at roughly $21 billion, in 2024, and was the destination for 13% of its exports, according to World Trade Organization trade data.
Iran Deal Clock Hits Zero As Trump Demands 'White Flag' With New Pressure Campaign Looming
Miad Maleki, a senior fellow at the Foundation for Defense of Democracies and former Treasury official, said the UAE is one of Tehran's two key economic lifelines.
#trade #islamic
15 days ago
Ukraine launched hundreds of drones across Russia Sunday, killing at least six people in one of Kyiv's largest aerial attacks of the war.
Russia's Ministry of Defense said that it had destroyed 822 Ukrainian drones overnight. Some 600 drones were detected headed toward the Russian capital, Moscow Mayor Sergei Sobyanin said, with a third destroyed over the Moscow region itself.
An 83-year-old man was killed after a Ukrainian drone hit a private home in the Moscow region, local Gov. Andrey Vorobyov said. He also confirmed that a Ukrainian attack had sparked a blaze at a warehouse belonging to Russian retail giant Wildberries in the town of Podolsk, where images shared by Russian media outlets showed columns of black smoke .
A drone attack targeted three towns in Russia's southwestern Rostov region, killing five people, local Gov. Yury Slyusar said. The attack, with more than 150 drones, damaged several homes and a railway station and sparked a forest fire.
Ukraine has stepped up its attacks on Russia this year, with long-range missiles and swarms of drones increasingly targeting military industries and energy facilities. It has also increasingly pummeled giant Wildberries depots, burning billions of dollars' worth of merchandise and bringing the war home to the Russian public nearly 4½ years into Moscow's full-scale invasion of Ukraine.
#moscow
Russia's Ministry of Defense said that it had destroyed 822 Ukrainian drones overnight. Some 600 drones were detected headed toward the Russian capital, Moscow Mayor Sergei Sobyanin said, with a third destroyed over the Moscow region itself.
An 83-year-old man was killed after a Ukrainian drone hit a private home in the Moscow region, local Gov. Andrey Vorobyov said. He also confirmed that a Ukrainian attack had sparked a blaze at a warehouse belonging to Russian retail giant Wildberries in the town of Podolsk, where images shared by Russian media outlets showed columns of black smoke .
A drone attack targeted three towns in Russia's southwestern Rostov region, killing five people, local Gov. Yury Slyusar said. The attack, with more than 150 drones, damaged several homes and a railway station and sparked a forest fire.
Ukraine has stepped up its attacks on Russia this year, with long-range missiles and swarms of drones increasingly targeting military industries and energy facilities. It has also increasingly pummeled giant Wildberries depots, burning billions of dollars' worth of merchandise and bringing the war home to the Russian public nearly 4½ years into Moscow's full-scale invasion of Ukraine.
#moscow
18 days ago
KYIV, Ukraine (AP) — Ukrainian anti-ship missiles and drones blitzed a major Russian naval base on the Black Sea coast in a "unique" nighttime operation, Ukrainian President Volodymyr Zelenskyy said Wednesday.
Cutting-edge drones developed by Kyiv since Moscow's full-scale invasion over four years ago have repeatedly targeted Russian ships in the Black Sea, including warships and oil tankers.
Ukraine's air and sea drones have succeeded in limiting the movements of Russia's once-dominant Black Sea navy, Kyiv officials say, in one of the country's biggest accomplishments of the war.
But Ukrainian officials believe Russian President Vladimir Putin is bent on pressing ahead with the war, despite his bigger army's slow and costly progress on the battlefield and U.S. diplomatic efforts to find a settlement.
Putin is planning "an additional rapid mobilization of several hundred thousand Russians by the end of the year," Zelenskyy said Tuesday night on social media, citing Ukrainian intelligence reports.
#kyiv #president #zelenskyy #officials
Cutting-edge drones developed by Kyiv since Moscow's full-scale invasion over four years ago have repeatedly targeted Russian ships in the Black Sea, including warships and oil tankers.
Ukraine's air and sea drones have succeeded in limiting the movements of Russia's once-dominant Black Sea navy, Kyiv officials say, in one of the country's biggest accomplishments of the war.
But Ukrainian officials believe Russian President Vladimir Putin is bent on pressing ahead with the war, despite his bigger army's slow and costly progress on the battlefield and U.S. diplomatic efforts to find a settlement.
Putin is planning "an additional rapid mobilization of several hundred thousand Russians by the end of the year," Zelenskyy said Tuesday night on social media, citing Ukrainian intelligence reports.
#kyiv #president #zelenskyy #officials
19 days ago
Aug 11 (Reuters) - Seven workers were killed at a Ukrainian steel plant on Tuesday during a Russian attack on the southeastern city of Zaporizhzhia in which President Volodymyr Zelenskiy said Moscow used North Korean ballistic missiles.
The Zaporizhstal plant was forced to suspend production after being hit as Russia pummelled Zaporizhzhia with Zircon hypersonic missiles, guided aerial bombs and ballistic missiles supplied by Pyongyang.
"The ballistic missile strike hit as employees were making their way to a shelter immediately after the air-raid alert was sounded," parent company Metinvest Group said in a statement that put the death toll at seven.
The attack brought production at the plant to a complete halt, and other damaged sites were operating at reduced capacity, the company said.
Regional governor Ivan Fedorov posted photos of buildings and vehicles ablaze after the strike, which also damaged four residential buildings. At least 24 people were injured. No damage was reported at the Zaporizhzhia nuclear power plant.
#zaporizhzhia #production #strike #damaged
The Zaporizhstal plant was forced to suspend production after being hit as Russia pummelled Zaporizhzhia with Zircon hypersonic missiles, guided aerial bombs and ballistic missiles supplied by Pyongyang.
"The ballistic missile strike hit as employees were making their way to a shelter immediately after the air-raid alert was sounded," parent company Metinvest Group said in a statement that put the death toll at seven.
The attack brought production at the plant to a complete halt, and other damaged sites were operating at reduced capacity, the company said.
Regional governor Ivan Fedorov posted photos of buildings and vehicles ablaze after the strike, which also damaged four residential buildings. At least 24 people were injured. No damage was reported at the Zaporizhzhia nuclear power plant.
#zaporizhzhia #production #strike #damaged
19 days ago
KYIV, Ukraine (AP) — Russia attacked Ukrainian cities with missiles, drones and glide bombs Tuesday, killing at least 10 civilians, officials said, as President Volodymyr Zelenskyy said Moscow is getting new military help from North Korea for its more than 4-year-old invasion.
Zelenskyy said Russian forces used ballistic missiles supplied by North Korea in an overnight attack on the southeastern city of Zaporizhzhia, where a company said seven workers at its steel plant were killed and 21 injured.
Three more people, including a 15-year-old boy, were killed by Russian drones and artillery in the central Dnipropetrovsk region, authorities said.
In addition to the ballistic missiles, North Korea is preparing to deploy more of its troops to Russia, Zelenskyy said late Monday.
Russian President Vladimir Putin and North Korean leader Kim Jong Un signed a strategic partnership agreement in 2024, pledging mutual aid if either country faces aggression.
#russian #president #drones
Zelenskyy said Russian forces used ballistic missiles supplied by North Korea in an overnight attack on the southeastern city of Zaporizhzhia, where a company said seven workers at its steel plant were killed and 21 injured.
Three more people, including a 15-year-old boy, were killed by Russian drones and artillery in the central Dnipropetrovsk region, authorities said.
In addition to the ballistic missiles, North Korea is preparing to deploy more of its troops to Russia, Zelenskyy said late Monday.
Russian President Vladimir Putin and North Korean leader Kim Jong Un signed a strategic partnership agreement in 2024, pledging mutual aid if either country faces aggression.
#russian #president #drones
19 days ago
Lockheed Martin (NYSE:LMT) just landed one of the largest single contract awards in its history. On July 29, the Department of War handed the defense giant a seven-year, up to $53.86 billion undefinitized contract action for PAC-3 Missile Segment Enhancement interceptors, pushing the total multiyear deal to $58.62 billion once the $4.7 billion awarded back in April is added in. That is not an error, which raises a clear question: what is driving this level of demand?
The answer starts with real-world consumption. Fewer than 800 Patriot missiles reportedly remain in US inventories, a stockpile a CSIS report pegs as having lost 65% of its prewar 2,330 count during the Iran conflict, leaving roughly four years of production at the old pace to cover what got burned through in under three months of fighting. Lockheed is responding by tripling PAC-3 MSE production capacity by the end of 2030 and growing its Camden, Arkansas workforce from 1,200 to about 1,850 employees. This is Lockheed's second major multiyear award under the Department's Acquisition Transformation Strategy, following the $35 billion THAAD contract, and the company is backing it with $8 billion to $9 billion in facility investment through 2030, including new munitions centers in Troy, Alabama and Camden.
A cheaper companion missile, the PAC-3 Adapted Capability Effector priced around $2.5 million versus MSE's roughly $4 million, is being positioned as complementary rather than a cannibal of MSE volume, meaning it adds revenue instead of splitting it. Layer in the $3.5 billion Ultra Maritime acquisition that expanded Lockheed into undersea defense, and a business already generating $75.1 billion in FY2025 revenue, up 5.7%, with $6.9 billion in free cash flow and a net margin near 6.7%, looks like it is compounding its core strength rather than searching for a new one.
The flip side of that strength is dependency. Roughly 72% of 2025 sales came from the US government, and the F-35 program alone accounts for about 27% of revenue, meaning any shift in Washington's spending priorities or a program delay would hit Lockheed harder than a diversified industrial company. The balance sheet carries real leverage too, with debt to equity near 3.2x and a current ratio of just 1.1x, leaving a thinner liquidity cushion than investors might expect from a company this size.
Lockheed is also fighting a $4.25 billion lawsuit over alleged technology misappropriation and regularly defends against cyberattacks aimed at its sensitive intellectual property. And when Lockheed first unveiled the cheaper PAC-3 ACE missile, investors sold the stock off on fears it would eat into MSE margins, a worry the company disputes but one that shows how sensitive the market is to anything touching this contract's economics.
#missile #roughly
The answer starts with real-world consumption. Fewer than 800 Patriot missiles reportedly remain in US inventories, a stockpile a CSIS report pegs as having lost 65% of its prewar 2,330 count during the Iran conflict, leaving roughly four years of production at the old pace to cover what got burned through in under three months of fighting. Lockheed is responding by tripling PAC-3 MSE production capacity by the end of 2030 and growing its Camden, Arkansas workforce from 1,200 to about 1,850 employees. This is Lockheed's second major multiyear award under the Department's Acquisition Transformation Strategy, following the $35 billion THAAD contract, and the company is backing it with $8 billion to $9 billion in facility investment through 2030, including new munitions centers in Troy, Alabama and Camden.
A cheaper companion missile, the PAC-3 Adapted Capability Effector priced around $2.5 million versus MSE's roughly $4 million, is being positioned as complementary rather than a cannibal of MSE volume, meaning it adds revenue instead of splitting it. Layer in the $3.5 billion Ultra Maritime acquisition that expanded Lockheed into undersea defense, and a business already generating $75.1 billion in FY2025 revenue, up 5.7%, with $6.9 billion in free cash flow and a net margin near 6.7%, looks like it is compounding its core strength rather than searching for a new one.
The flip side of that strength is dependency. Roughly 72% of 2025 sales came from the US government, and the F-35 program alone accounts for about 27% of revenue, meaning any shift in Washington's spending priorities or a program delay would hit Lockheed harder than a diversified industrial company. The balance sheet carries real leverage too, with debt to equity near 3.2x and a current ratio of just 1.1x, leaving a thinner liquidity cushion than investors might expect from a company this size.
Lockheed is also fighting a $4.25 billion lawsuit over alleged technology misappropriation and regularly defends against cyberattacks aimed at its sensitive intellectual property. And when Lockheed first unveiled the cheaper PAC-3 ACE missile, investors sold the stock off on fears it would eat into MSE margins, a worry the company disputes but one that shows how sensitive the market is to anything touching this contract's economics.
#missile #roughly
21 days ago
Commercial **** e and defense equities continue to draw investor attention, but CNBC's Mad Money host Jim Cramer took a cautious stance on higher-risk plays in the sector on August 5. When asked about Rocket Lab Corporation (NASDAQ:RKLB), Cramer dismissed the stock as speculative while steering investors toward Voyager Technologies, Inc. (NYSE:VOYG):
Pure spec, that's the problem. It's a pure spec. I like that Voyager. We had that fella on last night, Voyager… I like the Voyager.
Cramer's preference for Voyager Technologies, Inc. (NYSE:VOYG) follows its second-quarter earnings report, which he reviewed during the August 4 episode after interviewing management. Cramer highlighted the expanding government defense contracts, sequential revenue acceleration, and a growing backlog and said:
When you look at this phenomenal run in Voyager Technologies, the **** e and defense company that makes key components for satellites, missiles, and **** ecraft, it's been racking up government contracts left and right. Last night, Voyager reported a very strong quarter with revenue up 51% just versus the previous 3 months, a narrower-than-expected loss, and the backlog jumping 22% sequentially. That's versus last quarter, not last year. Management said that demand is building faster than they can convert it into revenue. High-quality problem. They also raised their full-year revenue forecast pretty substantially. Some of that's thanks to the recent acquisition of Astrobotic. That's a **** e robotics play... The stock jumped 14% yesterday even before the quarter and then rallied another 19.6% today in response to these results, although it's still down roughly 55% from its post-IPO highs last summer. So maybe you haven't missed as much as you might think.
It is worth noting that data tracked by Insider Monkey shows shifting hedge fund sentiment between the two **** e companies entering 2026. Elite hedge fund holders in Rocket Lab Corporation (NASDAQ:RKLB) declined from 45 in the fourth quarter of 2025 to 43 in the first quarter of 2026. On the other hand, hedge fund ownership in Voyager Technologies, Inc. (NYSE:VOYG) expanded during the same period, rising from 35 holders in Q4 2025 to 37 in Q1 2026.
#technologies #revenue
Pure spec, that's the problem. It's a pure spec. I like that Voyager. We had that fella on last night, Voyager… I like the Voyager.
Cramer's preference for Voyager Technologies, Inc. (NYSE:VOYG) follows its second-quarter earnings report, which he reviewed during the August 4 episode after interviewing management. Cramer highlighted the expanding government defense contracts, sequential revenue acceleration, and a growing backlog and said:
When you look at this phenomenal run in Voyager Technologies, the **** e and defense company that makes key components for satellites, missiles, and **** ecraft, it's been racking up government contracts left and right. Last night, Voyager reported a very strong quarter with revenue up 51% just versus the previous 3 months, a narrower-than-expected loss, and the backlog jumping 22% sequentially. That's versus last quarter, not last year. Management said that demand is building faster than they can convert it into revenue. High-quality problem. They also raised their full-year revenue forecast pretty substantially. Some of that's thanks to the recent acquisition of Astrobotic. That's a **** e robotics play... The stock jumped 14% yesterday even before the quarter and then rallied another 19.6% today in response to these results, although it's still down roughly 55% from its post-IPO highs last summer. So maybe you haven't missed as much as you might think.
It is worth noting that data tracked by Insider Monkey shows shifting hedge fund sentiment between the two **** e companies entering 2026. Elite hedge fund holders in Rocket Lab Corporation (NASDAQ:RKLB) declined from 45 in the fourth quarter of 2025 to 43 in the first quarter of 2026. On the other hand, hedge fund ownership in Voyager Technologies, Inc. (NYSE:VOYG) expanded during the same period, rising from 35 holders in Q4 2025 to 37 in Q1 2026.
#technologies #revenue
22 days ago
SEOUL, Aug 6 (Reuters) - North Korea has deployed troops, weapons and now, according to a Ukrainian intelligence official, a missile unit to support Russia's war against Ukraine, marking Pyongyang's most significant involvement in a war since the 1950s.
Here is what is known about the growing military ties:
WHAT ARE THE LATEST REPORTS?
A North Korean missile unit has begun deploying to western Russia and could be equipped with up to 120 ballistic missiles and six launchers for attacks on Ukraine, an official at Ukraine's GUR military intelligence agency said.
The unit comprises about 90 North Korean personnel and is expected to be based in Russia's Voronezh region, the official said. The United States is aware of the North Korean deployment, a source familiar with the issue told Reuters.
#north #official #reuters #seoul
Here is what is known about the growing military ties:
WHAT ARE THE LATEST REPORTS?
A North Korean missile unit has begun deploying to western Russia and could be equipped with up to 120 ballistic missiles and six launchers for attacks on Ukraine, an official at Ukraine's GUR military intelligence agency said.
The unit comprises about 90 North Korean personnel and is expected to be based in Russia's Voronezh region, the official said. The United States is aware of the North Korean deployment, a source familiar with the issue told Reuters.
#north #official #reuters #seoul
25 days ago
By Heejin Kim and Kyu-seok Shim
SEOUL, Aug 5 (Reuters) - North Korea's Kim Yo Jong, the powerful sister of leader Kim Jong Un, warned on Wednesday that Pyongyang would adopt "additional military options" in response to what she called ****** an's transformation into a military power, after Tokyo test-fired a U.S.-made Tomahawk cruise missile.
In a statement carried by state media KCNA, Kim accused ****** an of moving beyond a defensive posture and turning its armed forces into a force capable of pre-emptive attacks and overseas military operations.
She cited ****** an's recent Tomahawk test from the Aegis destroyer Chokai in the Pacific Ocean, as well as test-firings of other missiles and its participation in a U.S.-led joint military drill in the Philippines in May.
Kim said that North Korea would respond in ways that made ****** an feel that its security has been exposed to greater danger. "We should make it regret," she said, in some of her strongest rhetoric toward Tokyo in recent months.
#north #tomahawk
SEOUL, Aug 5 (Reuters) - North Korea's Kim Yo Jong, the powerful sister of leader Kim Jong Un, warned on Wednesday that Pyongyang would adopt "additional military options" in response to what she called ****** an's transformation into a military power, after Tokyo test-fired a U.S.-made Tomahawk cruise missile.
In a statement carried by state media KCNA, Kim accused ****** an of moving beyond a defensive posture and turning its armed forces into a force capable of pre-emptive attacks and overseas military operations.
She cited ****** an's recent Tomahawk test from the Aegis destroyer Chokai in the Pacific Ocean, as well as test-firings of other missiles and its participation in a U.S.-led joint military drill in the Philippines in May.
Kim said that North Korea would respond in ways that made ****** an feel that its security has been exposed to greater danger. "We should make it regret," she said, in some of her strongest rhetoric toward Tokyo in recent months.
#north #tomahawk
29 days ago
For the second game in a row, White Sox pitchers held the more-or-less-league-average offense of the Rays to one run, but this time the hitters forgot to send missiles out of the park. Or, much of any in the park.
Still despite being shut out, there were some good things to grow on.
Using an opener for Noah Schultz turned out to be a good idea. Jordan Hicks, playing the role for the first time, had a clean first inning, and Schultz then followed with one of his best outings of the year, five innings of three-hit, no-walk ball, the only run coming on a bloop single by Nick Fortes in the fifth off a pretty good pitch:
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Schultz had excellent control, especially given his history, throwing first-pitch strikes 12 of 19 times.
#using
Still despite being shut out, there were some good things to grow on.
Using an opener for Noah Schultz turned out to be a good idea. Jordan Hicks, playing the role for the first time, had a clean first inning, and Schultz then followed with one of his best outings of the year, five innings of three-hit, no-walk ball, the only run coming on a bloop single by Nick Fortes in the fifth off a pretty good pitch:
View Link
Schultz had excellent control, especially given his history, throwing first-pitch strikes 12 of 19 times.
#using
29 days ago
With the number of drones and missiles flying toward energy infrastructure in the Gulf these days, it might seem like a strange time to pour capital into that sector, in that region. But a gold rush is shaping up to profit from new workarounds to the Strait of Hormuz.
A group of US and Saudi investors said Wednesday they're closing in on a site for a $5 billion oil refining complex. It will be somewhere in the Gulf region, but outside the Strait, the project's organizers told me. With the aim to process up to 200,000 barrels of crude oil daily, it would be smaller than the major Gulf refineries. But the idea is to set up a port-connected "energy corridor" for producing and exporting not just staples like gasoline but also plastics, fertilizers, and just about anything else one can squeeze out of a hydrocarbon.
The idea was born before the war broke out, Mark Gunderson, a Texas oil developer whose MWG Enterprises is a partner in the project, told me. But now its logic is especially clear: Given the security and infrastructure limits on how much crude can flow out of the region, turning the oil into something else first can make it accessible to a broader range of traders and export vessels. "What can you do to make the oil move faster?" he said. "It doesn't necessarily have to be different or bigger pipes. It has to be technical solutions, and products that flow easier."
The project, whose other backers include the Patel Family Office and Saudi's AHQ Group, is part of a larger tide of capital flowing into Gulf oil infrastructure. Chevron is doubling down in Iraq. The UAE is building new pipelines and ports. On Monday, private equity giants Brookfield, Blackstone, and KKR signed a $16 billion lease on Kuwait's national pipeline network. "Security risks may be encouraging investment in more resilient infrastructure, rather than deterring it," said Salih Yilmaz, senior oil ******* yst at Bloomberg Intelligence.
The refinery project has plenty of hurdles ahead. But as refinery construction stalls out in the US and Europe, and a wider variety of crudes from Africa and elsewhere flow the Gulf, now is a good time to take the risk, Lakshmi Narayanan, Patel's vice-chair, told me: "Pre-conflict and post-conflict, Gulf countries have always been open [for energy investment], but now the market's sentiments are different."
#gulf #infrastructure #strait
A group of US and Saudi investors said Wednesday they're closing in on a site for a $5 billion oil refining complex. It will be somewhere in the Gulf region, but outside the Strait, the project's organizers told me. With the aim to process up to 200,000 barrels of crude oil daily, it would be smaller than the major Gulf refineries. But the idea is to set up a port-connected "energy corridor" for producing and exporting not just staples like gasoline but also plastics, fertilizers, and just about anything else one can squeeze out of a hydrocarbon.
The idea was born before the war broke out, Mark Gunderson, a Texas oil developer whose MWG Enterprises is a partner in the project, told me. But now its logic is especially clear: Given the security and infrastructure limits on how much crude can flow out of the region, turning the oil into something else first can make it accessible to a broader range of traders and export vessels. "What can you do to make the oil move faster?" he said. "It doesn't necessarily have to be different or bigger pipes. It has to be technical solutions, and products that flow easier."
The project, whose other backers include the Patel Family Office and Saudi's AHQ Group, is part of a larger tide of capital flowing into Gulf oil infrastructure. Chevron is doubling down in Iraq. The UAE is building new pipelines and ports. On Monday, private equity giants Brookfield, Blackstone, and KKR signed a $16 billion lease on Kuwait's national pipeline network. "Security risks may be encouraging investment in more resilient infrastructure, rather than deterring it," said Salih Yilmaz, senior oil ******* yst at Bloomberg Intelligence.
The refinery project has plenty of hurdles ahead. But as refinery construction stalls out in the US and Europe, and a wider variety of crudes from Africa and elsewhere flow the Gulf, now is a good time to take the risk, Lakshmi Narayanan, Patel's vice-chair, told me: "Pre-conflict and post-conflict, Gulf countries have always been open [for energy investment], but now the market's sentiments are different."
#gulf #infrastructure #strait
1 month ago
The U.S. Army on Sunday revealed it has tested a new warfare system overseas designed to covertly scramble the navigation signals used by enemy precision weapons, making it harder for adversaries to accurately strike targets from long distances while avoiding detection.
The electronic system, dubbed "Hammer of the Gods," was tested at sea off the U.S. West Coast for the first time in mid-July as part of the Project Convergence Capstone 6 (PC-C6) experiment.
While land-based versions have been demonstrated over the past two years, the exercise marked the official debut of the maritime variant, the Army said.
The portable signal disruptor can reportedly blind enemy to several precision-guided weapons such as long-range artillery, guided missiles and cruise missiles.
Ukraine's Battlefield Is Transforming The Future Of Nato
#enemy
The electronic system, dubbed "Hammer of the Gods," was tested at sea off the U.S. West Coast for the first time in mid-July as part of the Project Convergence Capstone 6 (PC-C6) experiment.
While land-based versions have been demonstrated over the past two years, the exercise marked the official debut of the maritime variant, the Army said.
The portable signal disruptor can reportedly blind enemy to several precision-guided weapons such as long-range artillery, guided missiles and cruise missiles.
Ukraine's Battlefield Is Transforming The Future Of Nato
#enemy
1 month ago
The dollar index (DXY00) is down by -0.02% today. The dollar recovered from overnight losses and is little changed after crude oil prices surged more than +6% when President Trump said the US will "hit Iran hard" after a recent attack from Iran that targeted a US base in Jordan. The jump in crude prices raises inflation expectations and could prompt the Fed to tighten monetary policy, a supportive factor for the dollar. Movement in the dollar is limited ahead of the conclusion of the 2-day FOMC meeting later today when policymakers are expected to keep interest rates unchanged.
Crude oil prices jumped today after the Islamic Revolutionary Guard Corps (IRGC) said it targeted a US airbase and command center in Jordan with ballistic missiles. The IRGC also claimed to have hit and halted three tankers attempting to transit through the Strait of Hormuz. Meanwhile, the US and Saudi Arabia launched a joint attack on "Iran-aligned terrorists" in Iraq after the IRGC directed them to target US forces and Saudi energy infrastructure.
Dollar Slips as Crude Oil Prices and T-Note Yields Fall
Dollar Turns Lower After US Consumer Confidence Unexpectedly Declines
Dollar Falls as FOMC Keeps Interest Rates Unchanged
#Iran #jordan
Crude oil prices jumped today after the Islamic Revolutionary Guard Corps (IRGC) said it targeted a US airbase and command center in Jordan with ballistic missiles. The IRGC also claimed to have hit and halted three tankers attempting to transit through the Strait of Hormuz. Meanwhile, the US and Saudi Arabia launched a joint attack on "Iran-aligned terrorists" in Iraq after the IRGC directed them to target US forces and Saudi energy infrastructure.
Dollar Slips as Crude Oil Prices and T-Note Yields Fall
Dollar Turns Lower After US Consumer Confidence Unexpectedly Declines
Dollar Falls as FOMC Keeps Interest Rates Unchanged
#Iran #jordan
1 month ago
A Russian missile violated Polish airspace on Thursday, a NATO official told Business Insider.
Ukrainian jets tried to destroy the Russian missiles before any crossed into Poland, Warsaw said.
The missile flew for six minutes before crashing roughly 60 miles deep into Poland.
Ukrainian fighter jets tried to shoot down Russian missiles near the border with Poland on Thursday; however, at least one breached Polish airspace, Western officials said.
US Army Col. Martin O'Donnell, a spokesperson for NATO's Supreme Headquarters Allied Powers Europe, told Business Insider NATO and Poland activated their air and ground defenses "in response to a Russian missile of currently unknown type that entered Polish airspace" and crashed inside the country.
#russian #polish #missile #insider
Ukrainian jets tried to destroy the Russian missiles before any crossed into Poland, Warsaw said.
The missile flew for six minutes before crashing roughly 60 miles deep into Poland.
Ukrainian fighter jets tried to shoot down Russian missiles near the border with Poland on Thursday; however, at least one breached Polish airspace, Western officials said.
US Army Col. Martin O'Donnell, a spokesperson for NATO's Supreme Headquarters Allied Powers Europe, told Business Insider NATO and Poland activated their air and ground defenses "in response to a Russian missile of currently unknown type that entered Polish airspace" and crashed inside the country.
#russian #polish #missile #insider
1 month ago
Iran has brought days of relative calm in the Middle East to an end after launching what the US called a "surprise" attack in a striking change to the pattern of fighting.
Rather than responding to a fresh American strike, Tehran chose to restart the fight itself, showing a growing willingness to use military force to shape the course of the war on its own terms.
This in turn sets the stage for fresh escalation. "We are going to beat the f**king sh*t out of them," US President Donald Trump told Fox News Wednesday morning. "We'll be hitting them hard. They're going to get a beating."
That threat could hardly have surprised Tehran, which launched its missiles knowing they might bring US bombers back.
Trump had attributed last week's pause to a request from Iran because "they asked us very nicely" and wanted talks. Tehran never publicly committed to the recent pause, although a senior Iranian official said "our armed forces also decided not to take military action."
#Trump #fresh #going
Rather than responding to a fresh American strike, Tehran chose to restart the fight itself, showing a growing willingness to use military force to shape the course of the war on its own terms.
This in turn sets the stage for fresh escalation. "We are going to beat the f**king sh*t out of them," US President Donald Trump told Fox News Wednesday morning. "We'll be hitting them hard. They're going to get a beating."
That threat could hardly have surprised Tehran, which launched its missiles knowing they might bring US bombers back.
Trump had attributed last week's pause to a request from Iran because "they asked us very nicely" and wanted talks. Tehran never publicly committed to the recent pause, although a senior Iranian official said "our armed forces also decided not to take military action."
#Trump #fresh #going
1 month ago
After a dayslong pause in direct strikes between the United States and Iran, the war is flaring up again after U.S. Central Command said it intercepted multiple ballistic missiles launched in a surprise attack by Iran on US forces late Tuesday. It comes just hours after President Donald Trump touted progress in peace talks and as the conflict enters its sixth month. NBC's Gabe Gutierrez reports for TODAY.
#Iran #united #central
#Iran #united #central
1 month ago
WASHINGTON (AP) — Iran launched multiple ballistic missiles at American forces in the Middle East on Tuesday, shattering a brief pause in fighting as mediators tried to get both sides back to negotiations and toward a ceasefire, the U.S. military said.
All Iranian missiles were successfully intercepted, the U.S. Central Command said in a statement, adding that U.S. forces "remain vigilant and at a high state of readiness."
The United States and Iran had experienced a period of calm, during which neither announced attacks for days following weeks of escalation over the strategic Strait of Hormuz, the Persian Gulf waterway and narrow chokepoint through which 20% of the world's oil normally flows.
There was no immediate comment from Tehran on the U.S. military statement or the strikes.
Iran effectively closed the strait when the war began by firing at freighters and tankers off its coast or threatening them. Following the signing of an interim ceasefire deal in June, a battle for control over the strait erupted.
#Iran #following #military #statement
All Iranian missiles were successfully intercepted, the U.S. Central Command said in a statement, adding that U.S. forces "remain vigilant and at a high state of readiness."
The United States and Iran had experienced a period of calm, during which neither announced attacks for days following weeks of escalation over the strategic Strait of Hormuz, the Persian Gulf waterway and narrow chokepoint through which 20% of the world's oil normally flows.
There was no immediate comment from Tehran on the U.S. military statement or the strikes.
Iran effectively closed the strait when the war began by firing at freighters and tankers off its coast or threatening them. Following the signing of an interim ceasefire deal in June, a battle for control over the strait erupted.
#Iran #following #military #statement
1 month ago
U.S. Ambassador to the United Nations Mike Waltz on Sunday blamed former President Biden for the Pentagon being low on munitions but denied that the depletion is negatively impacting the war with Iran.
"We have to take a step back here in that a lot of stockpiles were depleted not only from what we gave Ukraine over the last … four or five years," Waltz told host Kristen Welker on NBC News's "Meet the Press."
Waltz also said Defense Secretary Pete Hegseth "inherited a depleted situation" from the Biden administration due to U.S. strikes on the Houthis — which the Trump administration carried out for nearly two months last year due to the Yemeni terrorist group targeting commercial ships in the Red Sea.
NBC News reported Friday that U.S. military commanders have been selectively choosing which Iranian missiles and explosive-packed drones to intercept amid an effort to preserve the Pentagon's diminishing supply of weapons that block projectiles from reaching their targets.
Military ***** ysts also ***** s it could take the U.S. four years or more to restock its weapons inventory. But that is only if Congress provides the administration with additional funding for the war.
#four
"We have to take a step back here in that a lot of stockpiles were depleted not only from what we gave Ukraine over the last … four or five years," Waltz told host Kristen Welker on NBC News's "Meet the Press."
Waltz also said Defense Secretary Pete Hegseth "inherited a depleted situation" from the Biden administration due to U.S. strikes on the Houthis — which the Trump administration carried out for nearly two months last year due to the Yemeni terrorist group targeting commercial ships in the Red Sea.
NBC News reported Friday that U.S. military commanders have been selectively choosing which Iranian missiles and explosive-packed drones to intercept amid an effort to preserve the Pentagon's diminishing supply of weapons that block projectiles from reaching their targets.
Military ***** ysts also ***** s it could take the U.S. four years or more to restock its weapons inventory. But that is only if Congress provides the administration with additional funding for the war.
#four
1 month ago
Oil prices gave up earlier gains on Friday after reports that Pakistan is trying to broker a return to U.S.-Iran nuclear negotiations. China is strongly backing the effort as the conflict and the closure of the Strait of Hormuz continue to threaten its energy security and weigh on its economy.
Brent crude for September delivery fell 4.4% to trade at $96.36 per barrel at 1.35 pm ET while WTI crude for September delivery was down 3.6% to change hands at $88.86/bbl.
However, Standard Chartered says the latest pullback may prove temporary as Middle East oil market risk has expanded from one strategic chokepoint to two.
On Monday, Yemen's Houthi militant group imposed a targeted maritime blockade against Saudi Arabia, threatening to enforce it by blocking Saudi-linked vessels from transiting the vital Bab el-Mandeb Strait. The group claimed the blockade was a direct retaliation for a decade-long Saudi containment of Yemen as well as a recent Saudi-backed airstrike targeting Sanaa International Airport.
The threat immediately rattled oil markets, prompting multiple Saudi-linked very large crude carriers (VLCCs) to abandon planned transits through the Bab el-Mandeb Strait and instead reroute around Africa's Cape of Good Hope, adding up to two weeks to each voyage. Two days later, the Houthis followed through. The group launched ballistic missiles and drones at two Saudi oil tankers on Thursday, damaging both vessels and igniting fires onboard. Brent crude surged nearly $20 per barrel, briefly climbing above $100.
#brent #september
Brent crude for September delivery fell 4.4% to trade at $96.36 per barrel at 1.35 pm ET while WTI crude for September delivery was down 3.6% to change hands at $88.86/bbl.
However, Standard Chartered says the latest pullback may prove temporary as Middle East oil market risk has expanded from one strategic chokepoint to two.
On Monday, Yemen's Houthi militant group imposed a targeted maritime blockade against Saudi Arabia, threatening to enforce it by blocking Saudi-linked vessels from transiting the vital Bab el-Mandeb Strait. The group claimed the blockade was a direct retaliation for a decade-long Saudi containment of Yemen as well as a recent Saudi-backed airstrike targeting Sanaa International Airport.
The threat immediately rattled oil markets, prompting multiple Saudi-linked very large crude carriers (VLCCs) to abandon planned transits through the Bab el-Mandeb Strait and instead reroute around Africa's Cape of Good Hope, adding up to two weeks to each voyage. Two days later, the Houthis followed through. The group launched ballistic missiles and drones at two Saudi oil tankers on Thursday, damaging both vessels and igniting fires onboard. Brent crude surged nearly $20 per barrel, briefly climbing above $100.
#brent #september
1 month ago
Less than a month ago, **** ysts were warning of a looming glut of crude oil as tanker traffic via the Strait of Hormuz began to recover amid a U.S.-Iran ceasefire. Within days of these warnings, the ceasefire was a painful memory, missiles were flying again, and now Yemen's Houthis are striking tankers in the Red Sea, which makes two blocked oil chokepoints and a very real danger of a global recession.
Brent crude this week topped $100 per barrel on reports that the Houthis had struck two Saudi tankers in the Bab el-Mandeb Strait, which Saudi Arabia is currently using as the primary outlet for its crude amid the Iranian blockade of the Strait of Hormuz. Soon enough it emerged that tankers that were heading to the Red Sea waterway were making U-turns and heading to alternative routes—which take longer and cost more.
Meanwhile, Ukrainian drone strikes on the Caspian Pipeline System's terminus on the Black Sea have forced Kazakhstan to suspend most of its oil exports. The target of the drone attacks was the Novorossiysk port on Russia's Black Sea coast, which also happens to be the point of departure of the bulk of Kazakh oil exports to world markets. Bloomberg reported this week that tanker operators were getting nervous about sending their vessels to the port of Novorossiysk because Ukrainian drones were also striking ships at the port.
The Strait of Hormuz used to see average daily oil volumes of some 20 million barrels daily. This has now slowed to a trickle. The Red Sea chokepoint of Bab el-Mandeb has been handling between 4 and 5 million barrels daily of Saudi oil in recent weeks, according to different estimates. Now, this too appears to be almost completely blocked. Add to this the loss of 1.7 million barrels daily in Kazakh flows to Novorossiysk, and the global oil supply picture takes on a rather grim tint. Additionally, the Ukrainian forces continue to target Russian refineries, which has already led to a temporary ban on diesel exports at a time when global fuel inventories are getting strained by the first-wave effects of the Middle East war.
In fact, the situation with refined petroleum products is a major crisis in its own right. "Unlike crude oil, refined products face far fewer mitigation options. Several Middle Eastern refineries remain affected by the ongoing conflict while Russia's diesel export restrictions continue to constrain global availability," Ole Hansen, Saxo Bank's head of commodity strategy, said in an **** ysis earlier this month. "Refining capacity globally also remains relatively limited, preventing crude supply increases from quickly translating into additional diesel and gasoline production," he added.
#daily #exports
Brent crude this week topped $100 per barrel on reports that the Houthis had struck two Saudi tankers in the Bab el-Mandeb Strait, which Saudi Arabia is currently using as the primary outlet for its crude amid the Iranian blockade of the Strait of Hormuz. Soon enough it emerged that tankers that were heading to the Red Sea waterway were making U-turns and heading to alternative routes—which take longer and cost more.
Meanwhile, Ukrainian drone strikes on the Caspian Pipeline System's terminus on the Black Sea have forced Kazakhstan to suspend most of its oil exports. The target of the drone attacks was the Novorossiysk port on Russia's Black Sea coast, which also happens to be the point of departure of the bulk of Kazakh oil exports to world markets. Bloomberg reported this week that tanker operators were getting nervous about sending their vessels to the port of Novorossiysk because Ukrainian drones were also striking ships at the port.
The Strait of Hormuz used to see average daily oil volumes of some 20 million barrels daily. This has now slowed to a trickle. The Red Sea chokepoint of Bab el-Mandeb has been handling between 4 and 5 million barrels daily of Saudi oil in recent weeks, according to different estimates. Now, this too appears to be almost completely blocked. Add to this the loss of 1.7 million barrels daily in Kazakh flows to Novorossiysk, and the global oil supply picture takes on a rather grim tint. Additionally, the Ukrainian forces continue to target Russian refineries, which has already led to a temporary ban on diesel exports at a time when global fuel inventories are getting strained by the first-wave effects of the Middle East war.
In fact, the situation with refined petroleum products is a major crisis in its own right. "Unlike crude oil, refined products face far fewer mitigation options. Several Middle Eastern refineries remain affected by the ongoing conflict while Russia's diesel export restrictions continue to constrain global availability," Ole Hansen, Saxo Bank's head of commodity strategy, said in an **** ysis earlier this month. "Refining capacity globally also remains relatively limited, preventing crude supply increases from quickly translating into additional diesel and gasoline production," he added.
#daily #exports
1 month ago
The Red Sea heated up as the rising front in the U.S.-Iran war as Houthi rebels on Sunday attacked two refinery and export sites on Saudi Arabia's west coast. U.S. supplied Patriot missiles reportedly intercepted two ballistic missiles targeting oil installations in Yanbu. Damage to the Saudi refinery in Jizan was unconfirmed, but Al Jazeera reported a large column of smoke following the attack.
In Iran, as of Sunday morning, no new air attacks by U.S. or Israeli forces were reported since Friday.
But the Houthi-Saudi escalation appears set to make the Red Sea's choke-point effect on oil prices, supplies and tanker day rates central to the coming week's market action. Another focal point will be the Federal Reserve and its stance on rate hikes.
But the most prominent discussions will probably involve the balance sheets and artificial intelligence-related spending levels of Magnificent 7 names Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Meta Platforms (META), all of which report during the week.
Shares of Alphabet (GOOGL) dived nearly 8% and broke critical technical support last week as spending levels and guidance disappointed investors. That played a large role in dragging the Nasdaq below its early June lows, setting the stage for the index to dive to a test of support at its 200-day moving average.
#reported #large
In Iran, as of Sunday morning, no new air attacks by U.S. or Israeli forces were reported since Friday.
But the Houthi-Saudi escalation appears set to make the Red Sea's choke-point effect on oil prices, supplies and tanker day rates central to the coming week's market action. Another focal point will be the Federal Reserve and its stance on rate hikes.
But the most prominent discussions will probably involve the balance sheets and artificial intelligence-related spending levels of Magnificent 7 names Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Meta Platforms (META), all of which report during the week.
Shares of Alphabet (GOOGL) dived nearly 8% and broke critical technical support last week as spending levels and guidance disappointed investors. That played a large role in dragging the Nasdaq below its early June lows, setting the stage for the index to dive to a test of support at its 200-day moving average.
#reported #large
1 month ago
By Mike Stone and Aishwarya Jain
July 23 (Reuters) - Defense giant Lockheed Martin lifted its 2026 sales and profit forecasts on Thursday as the Pentagon looks to replenish weapons stockpiles amid a wave of global conflicts.
Shares of the company rose 7% in premarket trading.
President Donald Trump has been urging defense contractors to increase production as the U.S.-Israeli war on Iran and a prolonged Russia-Ukraine conflict drain the Pentagon's inventory.
Revenue for Lockheed's missiles and fire control business rose nearly 20% to $4.1 billion, driven by a production ramp-up of its PAC-3 and Precision Strike missiles, both of which have been used in the war on Iran in the last few months.
#jain
July 23 (Reuters) - Defense giant Lockheed Martin lifted its 2026 sales and profit forecasts on Thursday as the Pentagon looks to replenish weapons stockpiles amid a wave of global conflicts.
Shares of the company rose 7% in premarket trading.
President Donald Trump has been urging defense contractors to increase production as the U.S.-Israeli war on Iran and a prolonged Russia-Ukraine conflict drain the Pentagon's inventory.
Revenue for Lockheed's missiles and fire control business rose nearly 20% to $4.1 billion, driven by a production ramp-up of its PAC-3 and Precision Strike missiles, both of which have been used in the war on Iran in the last few months.
#jain
1 month ago
Listen
(2 min)
Good morning. We now have a price tag for the U.S.-Iran war: $37.5 billion. Pete Hegseth shared the updated estimate yesterday—some $9 billion higher than earlier projections. The rising bill comes as fighting intensifies. Our latest reporting shows Iran’s ballistic missiles remain a deadly threat to U.S. forces and regional allies. Yet Israel is staying out of the fight—for now—at Washington’s request, to preserve room for diplomacy. Meanwhile, President Trump has approved a nuclear deal with Saudi Arabia that could bring large profits for American companies, but could also raise concerns about nuclear proliferation in the Middle East.
This is an edition of The 10-Point newsletter, a guided tour to the best coverage in The Wall Street Journal. If you’re not subscribed, sign up here. If you’re reading this in your inbox, tap the headline above for online and audio versions of this newsletter.
#Iran #newsletter #Israel
(2 min)
Good morning. We now have a price tag for the U.S.-Iran war: $37.5 billion. Pete Hegseth shared the updated estimate yesterday—some $9 billion higher than earlier projections. The rising bill comes as fighting intensifies. Our latest reporting shows Iran’s ballistic missiles remain a deadly threat to U.S. forces and regional allies. Yet Israel is staying out of the fight—for now—at Washington’s request, to preserve room for diplomacy. Meanwhile, President Trump has approved a nuclear deal with Saudi Arabia that could bring large profits for American companies, but could also raise concerns about nuclear proliferation in the Middle East.
This is an edition of The 10-Point newsletter, a guided tour to the best coverage in The Wall Street Journal. If you’re not subscribed, sign up here. If you’re reading this in your inbox, tap the headline above for online and audio versions of this newsletter.
#Iran #newsletter #Israel
