1 hr. ago
The severe disruption of oil and gas flows out of the Persian Gulf resulting from the war between the U.S. and Israel and Iran, has saddled energy-importing nations with soaring bills, supply uncertainty, and a murky outlook. However, there has been a silver lining: a rush to build alternative conduits for bringing oil and gas out of the Middle East.
The global total energy import bill swelled by $330 billion over the six months between March and August, Finnish climate outlet Centre for Energy Research and Clean Air reported earlier this month. This would not have been the case had the Strait of Hormuz remained open, the outlet noted in its report, highlighting the world's reliance on an energy export corridor vulnerable to adverse geopolitical events and their fallout.
Because of the closure of Hormuz, Persian Gulf oil producers had to idle wells and find ways to slip their stored oil out of the Gulf on tankers with their transponders switched off. Yet they also started working on alternative routes that bypassed the Strait of Hormuz altogether.
Saudi Arabia demonstrated foresight with its East-West pipeline that it used to reroute its export flows from the Persian Gulf to the Red Sea in the first weeks of the war, ramping up to some 7 million barrels of crude daily along the pipe that had previously handled much lower volumes. The only major constraint in that rerouting was the capacity of the loading facilities at Yanbu Port.
Later, of course, Saudi Arabia had to discover that the Red Sea is not safe because of the presence of the Yemeni Houthis in the Bab el-Mandeb strait and their affiliation with Iran. So, the Saudis had to reroute again, this time to the Suez Canal, which has an even more constrained tanker passage capacity. In other words, alternative routes are not perfect, but it is a good thing to have them.
#persian #hormuz
The global total energy import bill swelled by $330 billion over the six months between March and August, Finnish climate outlet Centre for Energy Research and Clean Air reported earlier this month. This would not have been the case had the Strait of Hormuz remained open, the outlet noted in its report, highlighting the world's reliance on an energy export corridor vulnerable to adverse geopolitical events and their fallout.
Because of the closure of Hormuz, Persian Gulf oil producers had to idle wells and find ways to slip their stored oil out of the Gulf on tankers with their transponders switched off. Yet they also started working on alternative routes that bypassed the Strait of Hormuz altogether.
Saudi Arabia demonstrated foresight with its East-West pipeline that it used to reroute its export flows from the Persian Gulf to the Red Sea in the first weeks of the war, ramping up to some 7 million barrels of crude daily along the pipe that had previously handled much lower volumes. The only major constraint in that rerouting was the capacity of the loading facilities at Yanbu Port.
Later, of course, Saudi Arabia had to discover that the Red Sea is not safe because of the presence of the Yemeni Houthis in the Bab el-Mandeb strait and their affiliation with Iran. So, the Saudis had to reroute again, this time to the Suez Canal, which has an even more constrained tanker passage capacity. In other words, alternative routes are not perfect, but it is a good thing to have them.
#persian #hormuz
22 hours ago
Oil prices surged above $120 a barrel in April as the Iran conflict choked the Strait of Hormuz and traders feared the worst.
Since then, something unexpected has happened. Prices have been falling. Not because the conflict ended, but because the market found a way around it.
Goldman Sachs ***** ysts Daan Struyven and Yulia Zhestkova Grigsby published a note this week laying out why the energy market's recovery matters, what it means for different parts of the energy sector, and why crude oil faces less upside risk than many investors might expect, Bloomberg reported.
The Strait of Hormuz is the single most important oil chokepoint in the world. About a third of the globe's seaborne oil passes through it on the way from Persian Gulf exporters to global buyers.
When the Iran conflict escalated earlier this year, flows collapsed. Goldman estimates total crude and oil-product exports through the Strait fell to roughly 5 to 6 million barrels per day in March, down from about 22 to 24 million barrels per day before the conflict, Bloomberg reported.
#Iran #goldman #crude
Since then, something unexpected has happened. Prices have been falling. Not because the conflict ended, but because the market found a way around it.
Goldman Sachs ***** ysts Daan Struyven and Yulia Zhestkova Grigsby published a note this week laying out why the energy market's recovery matters, what it means for different parts of the energy sector, and why crude oil faces less upside risk than many investors might expect, Bloomberg reported.
The Strait of Hormuz is the single most important oil chokepoint in the world. About a third of the globe's seaborne oil passes through it on the way from Persian Gulf exporters to global buyers.
When the Iran conflict escalated earlier this year, flows collapsed. Goldman estimates total crude and oil-product exports through the Strait fell to roughly 5 to 6 million barrels per day in March, down from about 22 to 24 million barrels per day before the conflict, Bloomberg reported.
#Iran #goldman #crude
8 days ago
LONDON, Aug 24 - U.S. threats to impose "the toughest sanctions in history" to force Iran to buckle to its demands after nearly six months of war have raised the prospect of a new round of escalation in the Gulf.
How could Iran respond to the economic pressure?
CAN IRAN STOP MORE OIL GETTING OUT OF THE MIDDLE EAST?
Mohsen Rezaei, the former Revolutionary Guards chief and secretary of Iran's Supreme National Security Council, has already threatened to shut down oil exports — one of Tehran's main strategic approaches since the war began on February 28.
"If the economic war continues, not a single drop of oil will be exported, neither through the Strait of Hormuz nor from anywhere in the Persian Gulf," he said.
#london
How could Iran respond to the economic pressure?
CAN IRAN STOP MORE OIL GETTING OUT OF THE MIDDLE EAST?
Mohsen Rezaei, the former Revolutionary Guards chief and secretary of Iran's Supreme National Security Council, has already threatened to shut down oil exports — one of Tehran's main strategic approaches since the war began on February 28.
"If the economic war continues, not a single drop of oil will be exported, neither through the Strait of Hormuz nor from anywhere in the Persian Gulf," he said.
#london
9 days ago
By Nidhi Verma and Florence Tan
Aug 24 (Reuters) - Iran said it had blacklisted 45 tankers that had broken its rules for crossing the Strait of Hormuz, and would take action against any vessels transferring loads with them, escalating its threats over the key waterway six months into the war.
The named vessels could be fined, detained and have their cargoes confiscated, according to an X post late on Sunday from the Persian Gulf Strait Authority, a new body set up by Iran to manage the strait.
The warning was issued within days of the U.S. threatening Iran with "the toughest sanctions in history", and Iran saying its response to any new U.S. threats would be "devastating".
The restricted list includes very large crude carriers, liquefied natural gas and liquefied petroleum gas tankers, and clean product vessels, among others.
#vessels #reuters
Aug 24 (Reuters) - Iran said it had blacklisted 45 tankers that had broken its rules for crossing the Strait of Hormuz, and would take action against any vessels transferring loads with them, escalating its threats over the key waterway six months into the war.
The named vessels could be fined, detained and have their cargoes confiscated, according to an X post late on Sunday from the Persian Gulf Strait Authority, a new body set up by Iran to manage the strait.
The warning was issued within days of the U.S. threatening Iran with "the toughest sanctions in history", and Iran saying its response to any new U.S. threats would be "devastating".
The restricted list includes very large crude carriers, liquefied natural gas and liquefied petroleum gas tankers, and clean product vessels, among others.
#vessels #reuters
9 days ago
DUBAI, United Arab Emirates (AP) — Iran's currency hit a record low Monday as Washington prepared to announce new sanctions it said would be an "economic D-Day" and would add further pressure on an economy already battered by previous sanctions and a U.S. naval blockade.
The rial dropped to 2.02 million to the U.S. dollar as trading opened on informal currency markets. Iran's official Central Bank rate stood at around 1.5 million rial to the dollar, but the informal rate is what most Iranians pay.
The currency had already been under pressure before the U.S. and Israel attacked Iran on Feb. 28, with double-digit inflation and negative growth, but has been hitting new record lows as nearly six months of war have taken an even greater toll.
Still, U.S. President Donald Trump has been unable to win concessions from Iran, which continues to keep a firm grip on shipping through the Strait of Hormuz, the key waterway through which a fifth of the world's traded oil transited freely before the war began. Iranian attacks and threats have severely hampered that traffic during the war.
Iran and Oman, which is on the opposite side of the strait, are reportedly in the final stages of agreeing upon a plan for joint management of the waterway, which regional officials have said would include having ships to enter the Persian Gulf through an Iranian-controlled route and exit through a route controlled by Oman.
#Oman #strait #sanctions
The rial dropped to 2.02 million to the U.S. dollar as trading opened on informal currency markets. Iran's official Central Bank rate stood at around 1.5 million rial to the dollar, but the informal rate is what most Iranians pay.
The currency had already been under pressure before the U.S. and Israel attacked Iran on Feb. 28, with double-digit inflation and negative growth, but has been hitting new record lows as nearly six months of war have taken an even greater toll.
Still, U.S. President Donald Trump has been unable to win concessions from Iran, which continues to keep a firm grip on shipping through the Strait of Hormuz, the key waterway through which a fifth of the world's traded oil transited freely before the war began. Iranian attacks and threats have severely hampered that traffic during the war.
Iran and Oman, which is on the opposite side of the strait, are reportedly in the final stages of agreeing upon a plan for joint management of the waterway, which regional officials have said would include having ships to enter the Persian Gulf through an Iranian-controlled route and exit through a route controlled by Oman.
#Oman #strait #sanctions
10 days ago
Updated Aug. 21, 2026 3:39 pm ET
Listen
(3 min)
1533 ET – Oil futures end the week higher with no progress made toward resolving the U.S.-Iran conflict, and the U.S. planning to tighten the economic squeeze on Iran rather than renew major military action. While geopolitics remain the main driver of oil prices, “the continuation of tensions alone is no longer creating the same price shock as before,” Linh Tran of XS.com says in a note. “The market may now need a more significant escalation to materially change expectations for Middle East supply.” WTI settles up 0.3% at $87.06for a 6.9% weekly gain. Brent rises 0.7% to $94.39 a barrel, up 6.6% on the week. (anthony.harrupwsj.com)
0920 ET – Crude oil futures are little changed in early U.S. trading and on track for weekly gains amid market expectations of an extended standoff in the Persian Gulf between the U.S. and Iran. Yesterday’s stronger-than-expected WTI September expiration “now provides an easy upside target to the October contract,” Ritterbusch & ****** ociates says in a note. The continued virtual closure of the Strait of Hormuz and stalled diplomatic efforts to reopen it support the bullish view, the firm says. “Iran remains dug in while the U.S. has shifted strategy from a bombing campaign to economic isolation that may or may not spur concessions from Iran.” WTI is off 0.1% at $86.76 a barrel and Brent is 0.1% higher at $93.87. (anthony.harrupwsj.com)
#Iran #economic #expectations #weekly
Listen
(3 min)
1533 ET – Oil futures end the week higher with no progress made toward resolving the U.S.-Iran conflict, and the U.S. planning to tighten the economic squeeze on Iran rather than renew major military action. While geopolitics remain the main driver of oil prices, “the continuation of tensions alone is no longer creating the same price shock as before,” Linh Tran of XS.com says in a note. “The market may now need a more significant escalation to materially change expectations for Middle East supply.” WTI settles up 0.3% at $87.06for a 6.9% weekly gain. Brent rises 0.7% to $94.39 a barrel, up 6.6% on the week. (anthony.harrupwsj.com)
0920 ET – Crude oil futures are little changed in early U.S. trading and on track for weekly gains amid market expectations of an extended standoff in the Persian Gulf between the U.S. and Iran. Yesterday’s stronger-than-expected WTI September expiration “now provides an easy upside target to the October contract,” Ritterbusch & ****** ociates says in a note. The continued virtual closure of the Strait of Hormuz and stalled diplomatic efforts to reopen it support the bullish view, the firm says. “Iran remains dug in while the U.S. has shifted strategy from a bombing campaign to economic isolation that may or may not spur concessions from Iran.” WTI is off 0.1% at $86.76 a barrel and Brent is 0.1% higher at $93.87. (anthony.harrupwsj.com)
#Iran #economic #expectations #weekly
14 days ago
The oil majors are soaring. ExxonMobil Holdings (NYSE: XOM) posted net income of $14.5 billion for the second quarter, more than double the $7.1 billion profit it had a year ago. Chevron's (NYSE: CVX) net income of $12 billion for the quarter was almost 400% higher than the year-ago quarter.
Chevron beat Wall Street's earnings estimates by $0.50 a share, at $6.06. Exxon, meanwhile, fell $0.08 short of estimates, posting adjusted earnings of $3.52 a share. The company said difficulties in its refining business were to blame.
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 »
Still, the increase in net income at the two oil behemoths is stunning. And both companies handily beat ****** ysts' revenue estimates. Of course, higher oil prices resulting from the war in the Persian Gulf and the closure of the Strait of Hormuz, through which about one-fifth of the world's oil flows, are a huge part of that.
And both companies seem to be firing on all cylinders. So, the question is, which one is the better investment right now? I like Chevron. Here's why.
#signal #income #billion #double
Chevron beat Wall Street's earnings estimates by $0.50 a share, at $6.06. Exxon, meanwhile, fell $0.08 short of estimates, posting adjusted earnings of $3.52 a share. The company said difficulties in its refining business were to blame.
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 »
Still, the increase in net income at the two oil behemoths is stunning. And both companies handily beat ****** ysts' revenue estimates. Of course, higher oil prices resulting from the war in the Persian Gulf and the closure of the Strait of Hormuz, through which about one-fifth of the world's oil flows, are a huge part of that.
And both companies seem to be firing on all cylinders. So, the question is, which one is the better investment right now? I like Chevron. Here's why.
#signal #income #billion #double
14 days ago
Texas Pacific Land Corporation (TPL), headquartered in Dallas, Texas, owns and manages tracts of land and resource, and water services and operations businesses in Texas. Valued at $24.7 billion by market cap, the company's income is derived from land sales, oil and gas royalties, grazing leases, and interest.
Shares of this leading owner of oil and gas surface acreage and subsurface mineral interests have outperformed the broader market over the past year. TPL has gained 22.1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 20.4%. In 2026, TPL stock is up 25%, surpassing the SPX's 13.7% rise on a YTD basis.
Wall Street Thinks Monolithic Power Is a Buy. Here's Why It Might Be Right.
Crude Prices Slightly Lower as Oil Supplies Transit Through the Persian Gulf
Crude Prices Jump as US-Iran War at a Standstill
#pacific #dallas
Shares of this leading owner of oil and gas surface acreage and subsurface mineral interests have outperformed the broader market over the past year. TPL has gained 22.1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 20.4%. In 2026, TPL stock is up 25%, surpassing the SPX's 13.7% rise on a YTD basis.
Wall Street Thinks Monolithic Power Is a Buy. Here's Why It Might Be Right.
Crude Prices Slightly Lower as Oil Supplies Transit Through the Persian Gulf
Crude Prices Jump as US-Iran War at a Standstill
#pacific #dallas
14 days ago
Entergy Corporation (ETR), headquartered in New Orleans, Louisiana, produces and retails distribution of electricity. Valued at $50.3 billion by market cap, the company delivers electricity to utility customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy also owns and operates nuclear plants in the northern U.S.
Shares of this leading integrated energy company have underperformed the broader market over the past year. ETR has gained 19.4% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 20.4%. However, in 2026, ETR stock is up 16.7%, surpassing the SPX's 13.7% rise on a YTD basis.
Wall Street Thinks Monolithic Power Is a Buy. Here's Why It Might Be Right.
Crude Prices Slightly Lower as Oil Supplies Transit Through the Persian Gulf
Crude Prices Jump as US-Iran War at a Standstill
#electricity
Shares of this leading integrated energy company have underperformed the broader market over the past year. ETR has gained 19.4% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 20.4%. However, in 2026, ETR stock is up 16.7%, surpassing the SPX's 13.7% rise on a YTD basis.
Wall Street Thinks Monolithic Power Is a Buy. Here's Why It Might Be Right.
Crude Prices Slightly Lower as Oil Supplies Transit Through the Persian Gulf
Crude Prices Jump as US-Iran War at a Standstill
#electricity
14 days ago
September WTI crude oil (CLU26) today is down -0.03 (-0.03%), and September RBOB gasoline (RBU26) is up +0.0219 (+0.69%).
Crude oil and gasoline prices are mixed today. Crude prices gave up an early advance today and turned slightly lower on signs that larger-than-expected volumes of crude oil are moving out of the Persian Gulf despite hostilities between the US and Iran. Crude prices also came under pressure on signs that Iran and Oman are close to signing a deal to reopen the Strait of Hormuz.
Wall Street Thinks Monolithic Power Is a Buy. Here's Why It Might Be Right.
Crude Prices Jump as US-Iran War at a Standstill
Cooler US Weather Forecasts Weigh on Nat-Gas Prices
#Iran #today #september #rbob
Crude oil and gasoline prices are mixed today. Crude prices gave up an early advance today and turned slightly lower on signs that larger-than-expected volumes of crude oil are moving out of the Persian Gulf despite hostilities between the US and Iran. Crude prices also came under pressure on signs that Iran and Oman are close to signing a deal to reopen the Strait of Hormuz.
Wall Street Thinks Monolithic Power Is a Buy. Here's Why It Might Be Right.
Crude Prices Jump as US-Iran War at a Standstill
Cooler US Weather Forecasts Weigh on Nat-Gas Prices
#Iran #today #september #rbob
15 days ago
Oil prices have soared in recent months as a result of the almost complete closure of the Strait of Hormuz, a key trade corridor connecting Asia and Europe. High fossil fuel prices have helped to drive up the profits of oil and gas companies around the globe, particularly in the United States and Europe. As a few companies boost production to fill the gap, some oil majors have seen record earnings in the first half of the year, a trend that is expected to continue for as long as Hormuz trade remains restricted.
Eight of the largest oil firms achieved combined profits of over $90 billion in the three months from April to June, following the U.S.-Israeli attack on Iran and the subsequent war. Iran's decision to close the Strait of Hormuz, the waterway between Oman and Iran that connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, has led to the biggest disruption of fossil fuel supplies in the market's history. As a few oil majors from the United States, Europe, and the Middle East step in to fill the gap and oil prices are pushed higher, a few companies have come out on top.
The phenomenon has also demonstrated that the world remains overly dependent on fossil fuels, with countries willing to pay a premium to secure their oil and gas supplies in the face of major global shortages. Environmentalists are concerned about what this reliance means for climate change, as greenhouse emissions remain high. The lack of energy diversification and the heavy dependence on fossil fuels also poses a threat to energy security for many countries.
The eight companies ***** sed – Aramco, BP, Shell, Equinor, TotalEnergies, Eni, Chevron, and ExxonMobil – have almost doubled their combined profits, from just below $50 billion in the second quarter of 2025. The increase in oil prices has driven up consumer energy bills worldwide, while oil companies continue to profit. This has reignited the discussion around windfall tax, as governments call for oil companies to pay higher levies to subsidise energy bills and environmentalists believe extra taxes could help pay to address the environmental damage caused by oil operations.
The Brent Benchmark put oil prices at around $68 a barrel at the end of February, rising to highs of nearly $100 a barrel in May. Saudi Arabia's Aramco benefited the most from the price increase over the spring, reporting a 34 per cent rise in its quarterly net income, at over $33 billion. Aramco saw high profits even following damage to its infrastructure by drone and missile strikes from Iranian and Houthi forces. The company's record oil sales meant that it was responsible for more carbon emissions than any company in history, according to the database Carbon Majors.
#Companies #prices #hormuz #Europe
Eight of the largest oil firms achieved combined profits of over $90 billion in the three months from April to June, following the U.S.-Israeli attack on Iran and the subsequent war. Iran's decision to close the Strait of Hormuz, the waterway between Oman and Iran that connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, has led to the biggest disruption of fossil fuel supplies in the market's history. As a few oil majors from the United States, Europe, and the Middle East step in to fill the gap and oil prices are pushed higher, a few companies have come out on top.
The phenomenon has also demonstrated that the world remains overly dependent on fossil fuels, with countries willing to pay a premium to secure their oil and gas supplies in the face of major global shortages. Environmentalists are concerned about what this reliance means for climate change, as greenhouse emissions remain high. The lack of energy diversification and the heavy dependence on fossil fuels also poses a threat to energy security for many countries.
The eight companies ***** sed – Aramco, BP, Shell, Equinor, TotalEnergies, Eni, Chevron, and ExxonMobil – have almost doubled their combined profits, from just below $50 billion in the second quarter of 2025. The increase in oil prices has driven up consumer energy bills worldwide, while oil companies continue to profit. This has reignited the discussion around windfall tax, as governments call for oil companies to pay higher levies to subsidise energy bills and environmentalists believe extra taxes could help pay to address the environmental damage caused by oil operations.
The Brent Benchmark put oil prices at around $68 a barrel at the end of February, rising to highs of nearly $100 a barrel in May. Saudi Arabia's Aramco benefited the most from the price increase over the spring, reporting a 34 per cent rise in its quarterly net income, at over $33 billion. Aramco saw high profits even following damage to its infrastructure by drone and missile strikes from Iranian and Houthi forces. The company's record oil sales meant that it was responsible for more carbon emissions than any company in history, according to the database Carbon Majors.
#Companies #prices #hormuz #Europe
18 days ago
NEW YORK (AP) — The U.S. stock market edged back from its all-time high Friday following the latest report on the economy to come in surprisingly weak, this time about how much shoppers are spending at retailers. Such data could keep interest rates low, which is something Wall Street loves, but it also raises the risk of a slowing economy when inflation is still high.
The S&P 500 slipped 0.2% from its record set the day before. The Dow Jones Industrial Average dipped 107 points, or 0.2%, and the Nasdaq composite sank 0.3%.
Stocks gave up modest gains from early in the morning after oil prices swung higher. The price for a barrel of Brent crude rose 1.7% to $88.52 as uncertainty continues about when the war with Iran will allow oil tankers to freely exit the Persian Gulf again.
Also raising uncertainty was a report showing shoppers spent less at U.S. retailers last month than the month before. That surprised economists, who were forecasting another month of growth.
On the bright side for financial markets, such a pullback in spending could take pressure off inflation. Inflation remains much higher than anyone would like, but reports earlier this week suggested the pace of increases in prices is decelerating.
#time #high #spending
The S&P 500 slipped 0.2% from its record set the day before. The Dow Jones Industrial Average dipped 107 points, or 0.2%, and the Nasdaq composite sank 0.3%.
Stocks gave up modest gains from early in the morning after oil prices swung higher. The price for a barrel of Brent crude rose 1.7% to $88.52 as uncertainty continues about when the war with Iran will allow oil tankers to freely exit the Persian Gulf again.
Also raising uncertainty was a report showing shoppers spent less at U.S. retailers last month than the month before. That surprised economists, who were forecasting another month of growth.
On the bright side for financial markets, such a pullback in spending could take pressure off inflation. Inflation remains much higher than anyone would like, but reports earlier this week suggested the pace of increases in prices is decelerating.
#time #high #spending
18 days ago
The S&P 500 Index ($SPX) (SPY) on Thursday rose +0.65%, the Dow Jones Industrial Average ($DOWI) (DIA) rose +0.13%, and the Nasdaq 100 Index ($IUXX) (QQQ) rose +1.15%. September E-mini S&P futures (ESU26) rose +0.68%, and September E-mini Nasdaq futures (NQU26) rose +1.18%.
Stocks rallied on the favorable PPI report, which prompted a -4 bp decline in the 10-year T-note yield and a drop in expectations for a Fed rate hike in September to 35% from 40% on Wednesday. Stocks also saw support from a drop of more than -2% in crude oil prices, amid a lack of any new US or Iranian military attacks in the Persian Gulf.
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#september #mini #thursday
Stocks rallied on the favorable PPI report, which prompted a -4 bp decline in the 10-year T-note yield and a drop in expectations for a Fed rate hike in September to 35% from 40% on Wednesday. Stocks also saw support from a drop of more than -2% in crude oil prices, amid a lack of any new US or Iranian military attacks in the Persian Gulf.
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#september #mini #thursday
18 days ago
The dollar index (DXY00) on Thursday ended the day little changed despite downward pressure from the dovish US PPI report, which lowered the odds of a Fed rate hike in September to 35% from 40% on Wednesday. In addition, the 10-year T-note yield fell -5 bp, undercutting the dollar's interest rate differentials.
The dollar was also undercut by reduced safe-haven demand as there were no overnight reports of new military attacks by the US or Iran in the Persian Gulf. Market concerns about the Middle East were also reduced slightly by news reports saying that the Trump administration is pivoting to using the naval blockade to apply economic pressure on Iran rather than new military attacks. There is no sign of any progress between the US and Iran on an agreement to reopen the Strait of Hormuz, although some ships are still getting through by turning off their transponders and hoping for the best.
Will Silver Hold Above Its Critical Support Level?
Dollar is Undercut by Dovish US PPI Report
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#Iran #dollar #report #undercut
The dollar was also undercut by reduced safe-haven demand as there were no overnight reports of new military attacks by the US or Iran in the Persian Gulf. Market concerns about the Middle East were also reduced slightly by news reports saying that the Trump administration is pivoting to using the naval blockade to apply economic pressure on Iran rather than new military attacks. There is no sign of any progress between the US and Iran on an agreement to reopen the Strait of Hormuz, although some ships are still getting through by turning off their transponders and hoping for the best.
Will Silver Hold Above Its Critical Support Level?
Dollar is Undercut by Dovish US PPI Report
Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now!
#Iran #dollar #report #undercut
18 days ago
September WTI crude oil (CLU26) on Thursday closed down -2.02 (-2.43%), and September RBOB gasoline (RBU26) closed down -0.0257 (-0.81%).
Crude oil and gasoline prices fell on Thursday, with no overnight reports of new military attacks by the US or Iran in the Persian Gulf. Market concerns about the Middle East were also reduced slightly by news reports saying that the Trump administration is pivoting to using the naval blockade to apply economic pressure on Iran rather than new military attacks.
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Nat-Gas Prices Close Higher on Warm Forecasts
#september #crude #prices #closed
Crude oil and gasoline prices fell on Thursday, with no overnight reports of new military attacks by the US or Iran in the Persian Gulf. Market concerns about the Middle East were also reduced slightly by news reports saying that the Trump administration is pivoting to using the naval blockade to apply economic pressure on Iran rather than new military attacks.
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Nat-Gas Prices Close Higher on Warm Forecasts
#september #crude #prices #closed
23 days ago
ADNOC Gas, the gas business of the Emirati energy major, will spend more than $8 billion on its Rich Gas Development project, the company said today, as it eyes 60% growth in its earnings before interest, tax, depreciation, and amortization by 2030.
The Rich Gas Development project covers several gas production facilities, including the Habshah gas project, which is the UAE's largest gas processing facility, and the Ruwais LNG project, also in the UAE.
Of the total investment, $3.9 billion would go towards building a new gas processing train at the Habshah facility, to be built by Wison Engineering, and $4.3 billion would be invested in a new natural gas liquids fractionation unit at Ruwais LNG. The new investment follows a $5-billion commitment to the Rich Gas Development project made earlier.
The Ruwais project is set to be one of the largest liquefied natural gas facilities in the Middle East. Slated to enter operation in late 2028, it will more than double ADNOC Gas's existing LNG capacity to roughly 15 million tons per year. The plant's two 4.8-mtpa liquefaction trains will leverage artificial intelligence and advanced technologies to improve safety, efficiency, and emissions performance, ADNOC said earlier.
The Emirati company has been actively expanding in natural gas amid strong global demand projections, despite the current supply disruption in the Persian Gulf. "This is a defining moment for ADNOC Gas. With the final investment decision and contract awards for the Rich Gas Development Project, we are not only accelerating one of the world's largest gas-processing growth programs – we are raising our ambition, targeting 60% EBITDA growth by 2030," the company's chief executive, Fatema Al Nuaimi said.
#project #development
The Rich Gas Development project covers several gas production facilities, including the Habshah gas project, which is the UAE's largest gas processing facility, and the Ruwais LNG project, also in the UAE.
Of the total investment, $3.9 billion would go towards building a new gas processing train at the Habshah facility, to be built by Wison Engineering, and $4.3 billion would be invested in a new natural gas liquids fractionation unit at Ruwais LNG. The new investment follows a $5-billion commitment to the Rich Gas Development project made earlier.
The Ruwais project is set to be one of the largest liquefied natural gas facilities in the Middle East. Slated to enter operation in late 2028, it will more than double ADNOC Gas's existing LNG capacity to roughly 15 million tons per year. The plant's two 4.8-mtpa liquefaction trains will leverage artificial intelligence and advanced technologies to improve safety, efficiency, and emissions performance, ADNOC said earlier.
The Emirati company has been actively expanding in natural gas amid strong global demand projections, despite the current supply disruption in the Persian Gulf. "This is a defining moment for ADNOC Gas. With the final investment decision and contract awards for the Rich Gas Development Project, we are not only accelerating one of the world's largest gas-processing growth programs – we are raising our ambition, targeting 60% EBITDA growth by 2030," the company's chief executive, Fatema Al Nuaimi said.
#project #development
23 days ago
The months-long closure of the Strait of Hormuz has led to severe fuel shortages around the globe, as companies battle to continue operations. Airlines have been hit hard as they struggle to obtain enough jet fuel to maintain their regular flight schedules.
The U.S.-Israeli war on Iran led to the closure of the Strait of Hormuz – a key trade corridor connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea, via which roughly 20 per cent of the world's oil is transported when fully operational. Several months of closures have resulted in significant restrictions to energy trade, with many countries now facing severe fuel shortages.
In July, several European airlines announced that they were at risk of running out of jet fuel. Europe has turned to the United States and Asia for alternative fuel imports in recent months but continues to feel the strain of the shortages. The United Kingdom, France, and Germany are extremely vulnerable due to their heavy reliance on the Middle East for their fuel supplies.
In recent decades, several countries have reduced their refining activities in favour of a green transition, leaving them more susceptible to supply chain disruptions. Before the war, Europe relied on the Middle East for roughly half of its jet fuel imports. Iran has allowed limited fuel supplies through the Strait of Hormuz, but it is uncertain when normal trade will resume due to the ongoing conflict.
On 18th June, the consultancy Energy Aspects forecast a jet fuel supply deficit across Europe of almost 600,000 bpd in the third quarter of the year, compared to surpluses of around 116,000 bpd in the United States and 425,000 bpd in Asia-Pacific. Europe's inventories totalled around 38 million barrels at the beginning of June, equivalent to roughly 30 days of its fuel demand. The International Energy Agency (IEA) made a similar estimate.
#fuel #hormuz #several #around
The U.S.-Israeli war on Iran led to the closure of the Strait of Hormuz – a key trade corridor connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea, via which roughly 20 per cent of the world's oil is transported when fully operational. Several months of closures have resulted in significant restrictions to energy trade, with many countries now facing severe fuel shortages.
In July, several European airlines announced that they were at risk of running out of jet fuel. Europe has turned to the United States and Asia for alternative fuel imports in recent months but continues to feel the strain of the shortages. The United Kingdom, France, and Germany are extremely vulnerable due to their heavy reliance on the Middle East for their fuel supplies.
In recent decades, several countries have reduced their refining activities in favour of a green transition, leaving them more susceptible to supply chain disruptions. Before the war, Europe relied on the Middle East for roughly half of its jet fuel imports. Iran has allowed limited fuel supplies through the Strait of Hormuz, but it is uncertain when normal trade will resume due to the ongoing conflict.
On 18th June, the consultancy Energy Aspects forecast a jet fuel supply deficit across Europe of almost 600,000 bpd in the third quarter of the year, compared to surpluses of around 116,000 bpd in the United States and 425,000 bpd in Asia-Pacific. Europe's inventories totalled around 38 million barrels at the beginning of June, equivalent to roughly 30 days of its fuel demand. The International Energy Agency (IEA) made a similar estimate.
#fuel #hormuz #several #around
1 month ago
CAIRO (AP) — With escalating attacks against U.S. bases and its allies over the past week, Iran's leaders are showing considerable unity over their war strategy: hanging tough, determined to show Iran can endure more than America and its allies can.
But within the leadership, there are sharp differences over what the endgame should be.
On one side, the ultra-hardliners who oppose any negotiations with the United States are pressing for total victory in the war. Known as the "Paydari" movement – Persian for "stability" – they are hard-core ideologues who want to enforce the Islamic Republic's control over society.
On the other, those who support President Masoud Pezeshkian and powerful parliament speaker Mohammad Bagher Qalibaf — who doubles as Iran's chief negotiator — see military pressure as a way to win a negotiated deal with the United States. This camp is also spurred by concern over the economic toll Iran is suffering from the war and the need to adapt to social change in the country.
"Negotiation is a political tool and a complement to military action to force the enemy to a point of compulsion and extract real concessions," an adviser to Qalibaf, Mahdi Mohammadi, wrote on his Telegram channel Thursday.
#Iran #united #military #America
But within the leadership, there are sharp differences over what the endgame should be.
On one side, the ultra-hardliners who oppose any negotiations with the United States are pressing for total victory in the war. Known as the "Paydari" movement – Persian for "stability" – they are hard-core ideologues who want to enforce the Islamic Republic's control over society.
On the other, those who support President Masoud Pezeshkian and powerful parliament speaker Mohammad Bagher Qalibaf — who doubles as Iran's chief negotiator — see military pressure as a way to win a negotiated deal with the United States. This camp is also spurred by concern over the economic toll Iran is suffering from the war and the need to adapt to social change in the country.
"Negotiation is a political tool and a complement to military action to force the enemy to a point of compulsion and extract real concessions," an adviser to Qalibaf, Mahdi Mohammadi, wrote on his Telegram channel Thursday.
#Iran #united #military #America
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
Fighting across the oil-producing world is catching up with energy markets, which could soon be choked off by multiple choke points and shortages.
Over the weekend, the U.S. and Iran have paused their attacks on each other in the Persian Gulf while they engage in diplomacy. Iran and Oman are also in separate talks to reopen the Strait of Hormuz.
But the U.S. and Iran's neighbors are unlikely to accept any deal that recognizes Tehran's control over the narrow waterway. Meanwhile, Iran-backed Houthi rebels are threatening ships in the Bab el-Mandeb Strait, which Saudi Arabia has relied on to export its oil and bypass the Strait of Hormuz.
Ships can get around the Bab el-Mandeb Strait by using the Suez Canal to enter or exit the Red Sea, but the canal can't accommodate the largest oil tankers. There's also a risk that Iran could try to strike the Suez Canal, too.
"So we are starting to talk about the kind of 'no way out' scenarios because of this new Red Sea unrest," Helima Croft, head of global commodity strategy at RBC Capital Markets, told CNBC on Thursday.
#ships
Over the weekend, the U.S. and Iran have paused their attacks on each other in the Persian Gulf while they engage in diplomacy. Iran and Oman are also in separate talks to reopen the Strait of Hormuz.
But the U.S. and Iran's neighbors are unlikely to accept any deal that recognizes Tehran's control over the narrow waterway. Meanwhile, Iran-backed Houthi rebels are threatening ships in the Bab el-Mandeb Strait, which Saudi Arabia has relied on to export its oil and bypass the Strait of Hormuz.
Ships can get around the Bab el-Mandeb Strait by using the Suez Canal to enter or exit the Red Sea, but the canal can't accommodate the largest oil tankers. There's also a risk that Iran could try to strike the Suez Canal, too.
"So we are starting to talk about the kind of 'no way out' scenarios because of this new Red Sea unrest," Helima Croft, head of global commodity strategy at RBC Capital Markets, told CNBC on Thursday.
#ships
1 month ago
The dollar index (DXY00) is up +0.37%. The dollar is finding support from strong US interest rate differentials, as the 10-year T-note yield rose by +5 bp and posted a new 1.5-year high amid today's surge in oil prices of more than +5%. The dollar is also seeing support from today's US unemployment claims report, which showed a slightly stronger US labor market than market expectations.
The dollar is also seeing safe-haven demand after the Iran-backed Houthis launched a missile and drone attack on two Saudi Arabian oil tankers in the Red Sea, expanding the oil disruptions beyond the Strait of Hormuz and threatening oil shipments in the Red Sea. The Houthis have vowed to blockade shipping linked to Saudi Arabia and warned shipowners against calling at the nation's ports. The move threatens Saudi oil exports from Yanbu, a Red Sea hub that the Saudi's are using to ship crude since the war brought shipping through the Strait of Hormuz to a near halt. President Trump said Tuesday that if there is a blockade in the Red Sea, the US "will take care of it." Meanwhile, the US and Iran exchanged attacks for the 12th straight day, and the US maintained its blockade of Iranian oil shipments in the Persian Gulf.
Dollar Eases on Euro and Yen Strength
Dollar Slightly Lower as the Yen Recovers
Why is the Dollar Index a Mirage?
#Iran
The dollar is also seeing safe-haven demand after the Iran-backed Houthis launched a missile and drone attack on two Saudi Arabian oil tankers in the Red Sea, expanding the oil disruptions beyond the Strait of Hormuz and threatening oil shipments in the Red Sea. The Houthis have vowed to blockade shipping linked to Saudi Arabia and warned shipowners against calling at the nation's ports. The move threatens Saudi oil exports from Yanbu, a Red Sea hub that the Saudi's are using to ship crude since the war brought shipping through the Strait of Hormuz to a near halt. President Trump said Tuesday that if there is a blockade in the Red Sea, the US "will take care of it." Meanwhile, the US and Iran exchanged attacks for the 12th straight day, and the US maintained its blockade of Iranian oil shipments in the Persian Gulf.
Dollar Eases on Euro and Yen Strength
Dollar Slightly Lower as the Yen Recovers
Why is the Dollar Index a Mirage?
#Iran
1 month ago
Houthi attacks are expanding the Middle East conflict into the Red Sea, forcing tankers to reroute and pushing Brent above $91 amid growing fears of prolonged supply disruptions.
Aramco Floods the Red Sea With Crude Ahead of Houthi Escalation
- Perhaps foreshadowing an escalation in the Persian Gulf, Saudi Arabia's national oil company Saudi Aramco shipped record volumes of crude from its Red Sea port of Yanbu over the past four weeks.
- Yemen's Houthi rebels have sent an email to most global shipping companies, warning against loading any cargo in Saudi ports and threatening with strikes in case they come within operational reach.
- Following the closure of the Strait of Hormuz, Saudi Arabia has been relying on the 7 million b/d East-West pipeline to evacuate its production from its eastern regions towards oil markets.
- Of this, only 4-4.5 million b/d due to port limitations in Yanbu, the endpoint of the East-West pipeline and a key infrastructure chokepoint, with an additional 1.5-2 million b/d shipped to Aramco refineries along the Red Sea coast.
#west #escalation
Aramco Floods the Red Sea With Crude Ahead of Houthi Escalation
- Perhaps foreshadowing an escalation in the Persian Gulf, Saudi Arabia's national oil company Saudi Aramco shipped record volumes of crude from its Red Sea port of Yanbu over the past four weeks.
- Yemen's Houthi rebels have sent an email to most global shipping companies, warning against loading any cargo in Saudi ports and threatening with strikes in case they come within operational reach.
- Following the closure of the Strait of Hormuz, Saudi Arabia has been relying on the 7 million b/d East-West pipeline to evacuate its production from its eastern regions towards oil markets.
- Of this, only 4-4.5 million b/d due to port limitations in Yanbu, the endpoint of the East-West pipeline and a key infrastructure chokepoint, with an additional 1.5-2 million b/d shipped to Aramco refineries along the Red Sea coast.
#west #escalation
2 months ago
LONDON (AP) — A series of arson and vandalism attacks on Jewish sites in Britain were the work of a proxy group backed by Iran, the U.K. government said Monday.
The government said it is banning the group behind the attacks, the Islamic Movement of the Companions of the Right, or IMCR, also known as Harakat Ashab al-Yamin al-Islamia.
It also banned Iran's powerful paramilitary Revolutionary Guard, which it said is a threat to national security. The move makes it illegal to support the groups. Committing sabotage on their behalf will be punishable by up to life imprisonment.
Parliament must approve the bans, which the government expects to take place by the end of the week.
Security Minister Angela Eagle said in a statement that the IMCR has claimed seven attacks in the U.K. The group had said online that it was responsible for a string of arson attacks on Jewish sites in London in recent months, including fires at synagogues and Jewish charity ambulances, as well as a Persian-language media organization critical of Iran's government. No one was injured in the blazes.
The government said it is banning the group behind the attacks, the Islamic Movement of the Companions of the Right, or IMCR, also known as Harakat Ashab al-Yamin al-Islamia.
It also banned Iran's powerful paramilitary Revolutionary Guard, which it said is a threat to national security. The move makes it illegal to support the groups. Committing sabotage on their behalf will be punishable by up to life imprisonment.
Parliament must approve the bans, which the government expects to take place by the end of the week.
Security Minister Angela Eagle said in a statement that the IMCR has claimed seven attacks in the U.K. The group had said online that it was responsible for a string of arson attacks on Jewish sites in London in recent months, including fires at synagogues and Jewish charity ambulances, as well as a Persian-language media organization critical of Iran's government. No one was injured in the blazes.
2 months ago
DUBAI, United Arab Emirates (AP) — Sheikh Hamad bin Khalifa Al Thani, who as ruler of Qatar transformed the tiny Persian Gulf nation into a global player in diplomacy, media and investment, and then shattered tradition by voluntarily turning over power to his son, has died, state media reported. He was 74.
The state-run Qatar News Agency reported his death. It offered no cause.
Sheikh Hamad, who stepped down in June 2013 after 18 years as emir, was the architect of energy-rich Qatar's stunning ambitions that turned it from a backwater into an international crossroads in less than a generation. Qatar owns the Harrod's department store in London and founded the powerful Al Jazeera satellite news network.
Qatar's political reach today stretches from North Africa to Afghanistan and it hosted the 2022 FIFA World Cup, the world's most-watched soccer event. Sheikh Hamad, though long out of power, received thunderous applause from Qataris attending its opening match.
But Qatar's rise under Sheikh Hamad also rankled regional and Western allies with its independent-minded policymaking, including its close ties to Shiite powerhouse Iran, the Palestinian militant Hamas group and Egypt's outlawed Muslim Brotherhood.
The state-run Qatar News Agency reported his death. It offered no cause.
Sheikh Hamad, who stepped down in June 2013 after 18 years as emir, was the architect of energy-rich Qatar's stunning ambitions that turned it from a backwater into an international crossroads in less than a generation. Qatar owns the Harrod's department store in London and founded the powerful Al Jazeera satellite news network.
Qatar's political reach today stretches from North Africa to Afghanistan and it hosted the 2022 FIFA World Cup, the world's most-watched soccer event. Sheikh Hamad, though long out of power, received thunderous applause from Qataris attending its opening match.
But Qatar's rise under Sheikh Hamad also rankled regional and Western allies with its independent-minded policymaking, including its close ties to Shiite powerhouse Iran, the Palestinian militant Hamas group and Egypt's outlawed Muslim Brotherhood.
2 months ago
Despite the tentative recovery of oil flows through the Strait of Hormuz and the first build-up in global stocks since the war began, this week's re-escalation of the U.S.-Iran hostilities could flip the outlook for an oil market surplus for next year, the International Energy Agency said on Friday.
Oil prices have plunged since the United States and Iran signed the memorandum of understanding (MoU) in the middle of June, with North Sea Dated prices down by $31 per barrel in June to $68 a barrel by early July, their lowest since January and $2 per barrel below pre-war levels.
"An escalation in hostilities on 7-8 July, however, clouds the outlook and could upend the forecast that sees the market flipping to a surplus next year," the IEA said in its closely watched Oil Market Report for July.
Since the reopening of the Strait of Hormuz, tankers have rushed to exit the Persian Gulf, including millions of barrels of Iranian crude that Tehran couldn't move past the U.S. blockade between mid-April and mid-June.
As a result, global oil supply rebounded by a massive 4.1 million barrels per day (bpd) to 98.8 million bpd in June, amid a partial recovery in Gulf production, the IEA said.
Oil prices have plunged since the United States and Iran signed the memorandum of understanding (MoU) in the middle of June, with North Sea Dated prices down by $31 per barrel in June to $68 a barrel by early July, their lowest since January and $2 per barrel below pre-war levels.
"An escalation in hostilities on 7-8 July, however, clouds the outlook and could upend the forecast that sees the market flipping to a surplus next year," the IEA said in its closely watched Oil Market Report for July.
Since the reopening of the Strait of Hormuz, tankers have rushed to exit the Persian Gulf, including millions of barrels of Iranian crude that Tehran couldn't move past the U.S. blockade between mid-April and mid-June.
As a result, global oil supply rebounded by a massive 4.1 million barrels per day (bpd) to 98.8 million bpd in June, amid a partial recovery in Gulf production, the IEA said.
2 months ago
Oil prices were little changed on Friday, but both major benchmarks remained on track to post solid weekly gains as investors weighed renewed military tensions between the United States and Iran against expectations that the conflict will remain limited and avoid disrupting crude exports from the Persian Gulf.
At 14:18 ET (18:18 GMT), U.S. West Texas Intermediate (WTI) crude futures edged down 0.1% to $72.01 per barrel, while Brent crude futures slipped 0.07% to $76.25 per barrel.
Although trading was subdued during the session, Brent was still heading for a weekly gain of around 5%, with WTI up roughly 4%. Prices surged earlier in the week after renewed attacks near the Strait of Hormuz revived concerns over supply disruptions before easing as traders concluded the conflict was unlikely to broaden significantly.
The United States carried out another round of airstrikes against military targets in Iran on Thursday, saying the operations were intended to further reduce Tehran's ability to threaten commercial shipping through the Strait of Hormuz.
Iran responded with missile and drone attacks aimed at U.S.-aligned countries, including Bahrain, Kuwait, Qatar and Jordan, marking one of the most extensive military exchanges since last month's temporary agreement.
At 14:18 ET (18:18 GMT), U.S. West Texas Intermediate (WTI) crude futures edged down 0.1% to $72.01 per barrel, while Brent crude futures slipped 0.07% to $76.25 per barrel.
Although trading was subdued during the session, Brent was still heading for a weekly gain of around 5%, with WTI up roughly 4%. Prices surged earlier in the week after renewed attacks near the Strait of Hormuz revived concerns over supply disruptions before easing as traders concluded the conflict was unlikely to broaden significantly.
The United States carried out another round of airstrikes against military targets in Iran on Thursday, saying the operations were intended to further reduce Tehran's ability to threaten commercial shipping through the Strait of Hormuz.
Iran responded with missile and drone attacks aimed at U.S.-aligned countries, including Bahrain, Kuwait, Qatar and Jordan, marking one of the most extensive military exchanges since last month's temporary agreement.
2 months ago
An Iranian official warned that the Islamic Republic will deliver a "hard slap" while another blatantly threatened the U.S. that "if you strike, you'll get hit," according to automatic translations from the two men's Persian-language posts on X.
Ebrahim Rezaei, whose profile on the social media platform indicates that he is a representative in Iran's Parliament and the spokesperson for the National Security and Foreign Policy Commission, wrote in a post on X, "The martyred Khamenei taught us not to fear America and showed that 'falsehood will perish.' Await the hard slap from the Iranians."
The speaker of Iran's Parliament, Mohammad Bagher Ghalibaf, warned, "America still hasn't learned that bullying and breaking promises are no longer cost-free. Let me put it plainly: if you strike, you'll get hit. Don't flail around pointlessly, or you'll sink even deeper: the Strait of Hormuz will only open with 'Iranian arrangements,' not American threats."
Both of the men issued their posts on Wednesday after U.S. Central Command (CENTCOM) announced more strikes against Iran.
"At the direction of the Commander in Chief, U.S. Central Command forces have started conducting additional strikes against Iran to further degrade their ability to threaten freedom of navigation in the Strait of Hormuz. The United States is holding Iran accountable for recent unjustified aggression against commercial shipping and civilian crews freely navigating a vital international waterway," CENTCOM had noted in a post on X.
Ebrahim Rezaei, whose profile on the social media platform indicates that he is a representative in Iran's Parliament and the spokesperson for the National Security and Foreign Policy Commission, wrote in a post on X, "The martyred Khamenei taught us not to fear America and showed that 'falsehood will perish.' Await the hard slap from the Iranians."
The speaker of Iran's Parliament, Mohammad Bagher Ghalibaf, warned, "America still hasn't learned that bullying and breaking promises are no longer cost-free. Let me put it plainly: if you strike, you'll get hit. Don't flail around pointlessly, or you'll sink even deeper: the Strait of Hormuz will only open with 'Iranian arrangements,' not American threats."
Both of the men issued their posts on Wednesday after U.S. Central Command (CENTCOM) announced more strikes against Iran.
"At the direction of the Commander in Chief, U.S. Central Command forces have started conducting additional strikes against Iran to further degrade their ability to threaten freedom of navigation in the Strait of Hormuz. The United States is holding Iran accountable for recent unjustified aggression against commercial shipping and civilian crews freely navigating a vital international waterway," CENTCOM had noted in a post on X.
2 months ago
War trades follow a script. A supply shock hits, prices go vertical, and money that never cared about the underlying market suddenly cares about nothing else.
The entry is the easy part. The hard part is knowing when the story that made you money stops being true.
For three months, one industrial metal owned that script. Missile strikes knocked out two of the Persian Gulf's largest smelters in late March. The Strait of Hormuz slammed shut, cutting off both finished metal and the raw materials the region's plants run on.
A market most of Wall Street had written off as oversupplied flipped into deficit almost overnight. Prices ripped to a four-year high by early June, and shares of producers around the world rallied with them.
Then came the peace deal. The strait reopened, the panic premium bled away, and prices slid to their lowest level in more than four months. The question hanging over the market was whether the war left a lasting dent in supply or a temporary one.
The entry is the easy part. The hard part is knowing when the story that made you money stops being true.
For three months, one industrial metal owned that script. Missile strikes knocked out two of the Persian Gulf's largest smelters in late March. The Strait of Hormuz slammed shut, cutting off both finished metal and the raw materials the region's plants run on.
A market most of Wall Street had written off as oversupplied flipped into deficit almost overnight. Prices ripped to a four-year high by early June, and shares of producers around the world rallied with them.
Then came the peace deal. The strait reopened, the panic premium bled away, and prices slid to their lowest level in more than four months. The question hanging over the market was whether the war left a lasting dent in supply or a temporary one.
2 months ago
Iran's Parliament Speaker Mohammad Bagher Qalibaf has warned of an Iranian response if the U.S. and Israel breach the interim peace deal, as Tehran prepares to bury its former supreme leader, Ayatollah Ali Khamenei.
"We strongly demand full implementation of the agreements, and if the U.S. and the Zionist regime fail to fulfill their commitments, Iran will resume proportionate actions," Qalibaf said Friday, according to the semiofficial Iranian Students' News Agency (ISNA), during a meeting with Belarusian lawmaker Igor Sergeyenko.
Qalibaf and Iranian Foreign Minister Abbas Araghchi have been the lead Iranian negotiators in high-level talks with the U.S. to finalize an agreement that would permanently end hostilities in the region, fully reopen the critical Strait of Hormuz and resolve outstanding issues on Tehran's nuclear program, among other objectives.
The renewed tension comes after the U.S. and Iran exchanged fire in the Persian Gulf last week in the first flare-up of fighting since the 60-day memorandum of understanding (MOU) was signed.
President Trump threatened late last weekend to "militarily complete the job" following suspected Iranian drone attacks on vessels attempting to transit the oil corridor. The U.S. military responded with retaliatory strikes on Iranian missile and drone storage sites and coastal radar locations.
"We strongly demand full implementation of the agreements, and if the U.S. and the Zionist regime fail to fulfill their commitments, Iran will resume proportionate actions," Qalibaf said Friday, according to the semiofficial Iranian Students' News Agency (ISNA), during a meeting with Belarusian lawmaker Igor Sergeyenko.
Qalibaf and Iranian Foreign Minister Abbas Araghchi have been the lead Iranian negotiators in high-level talks with the U.S. to finalize an agreement that would permanently end hostilities in the region, fully reopen the critical Strait of Hormuz and resolve outstanding issues on Tehran's nuclear program, among other objectives.
The renewed tension comes after the U.S. and Iran exchanged fire in the Persian Gulf last week in the first flare-up of fighting since the 60-day memorandum of understanding (MOU) was signed.
President Trump threatened late last weekend to "militarily complete the job" following suspected Iranian drone attacks on vessels attempting to transit the oil corridor. The U.S. military responded with retaliatory strikes on Iranian missile and drone storage sites and coastal radar locations.
2 months ago
Oil market watchers entered 2026 widely in agreement on an emerging multibillion-barrel glut that was sure to depress prices throughout the year. That is not what they received.
Instead, a series of unexpected geopolitical catalysts — above all, the war in Iran — pushed oil prices to levels not seen since 2022, creating the largest energy supply shock on record and forcing traders to set aside all expectations for the first half of the year.
Now, with Persian Gulf oil exports renormalizing as the war in Iran seemingly winds down, traders enter the second half of the year in an uneasy calm after the storm.
"Despite the daily noise, markets feel remarkably calm, but comfort is not the same as clarity," Macquarie commodities strategists, led by Peter Taylor, wrote to clients.
"H2-26 may prove calmer, but we have set the scene for surprises."
Instead, a series of unexpected geopolitical catalysts — above all, the war in Iran — pushed oil prices to levels not seen since 2022, creating the largest energy supply shock on record and forcing traders to set aside all expectations for the first half of the year.
Now, with Persian Gulf oil exports renormalizing as the war in Iran seemingly winds down, traders enter the second half of the year in an uneasy calm after the storm.
"Despite the daily noise, markets feel remarkably calm, but comfort is not the same as clarity," Macquarie commodities strategists, led by Peter Taylor, wrote to clients.
"H2-26 may prove calmer, but we have set the scene for surprises."
