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#oilprices — Public Fediverse posts

Live and recent posts from across the Fediverse tagged #oilprices, aggregated by home.social.

  1. Oil Prices Surge Amid Geopolitical Tensions and Interest Rate Hikes Loom

    Asian share markets saw a decline on Monday as oil prices surged due to renewed geopolitical tensions, with…
    #Politics #BankofJapan #brentcrude #energysupplies #FederalReserve #geopoliticaltensions #geopolitics #Inflation #interestratehikes #oilprices #SaudiArabia #Yemen
    europesays.com/3249758/

  2. Trump floats idea to ‘stay and keep the oil’ in Iran, noting Venezuela deal

    President Trump on Sunday floated the idea that the U.S. could “stay and keep the oil” in Iran,…
    #NewsBeep #News #BreakingNews #breakingnews #Iran #iranwar #NorthAmericanBlueEnergyPartners #Oil #oilprices #PresidentTrump #strategicpetroleumreserve #Venezuela
    newsbeep.com/730549/

  3. Oil Industry Braces for Years-Long Iran War

    Oil producers, traders, and refiners are bracing for a prolonged war between the United States and Iran in…
    #NewsBeep #News #BreakingNews #breakingnews #Ceasefire #Iran #iranwar #NuclearArms #Oil #oilprices #Trump
    newsbeep.com/729421/

  4. KOSPI Falls 1.8% on Mideast Conflict, Oil Surge; Samsung Drops 3.5%

    Hana Bank dealing room in Jung-gu, Seoul, on Nov. 11. Newsis The KOSPI fell about 1.8% and gave…
    #EuropeSays #Korea #KR #KoreaExchange #Babel-MandebStrait #Koreanstockmarket #KOSPI #KRX #oilprices #SamsungElectronics #semiconductorequipmentstocks #SKhynix
    europesays.com/korea/152245/

  5. ‘Fine And Dandy’: Trump Claims Iran War Will End ‘Right After The Midterms’

    President Donald Trump said “everything’s going to work out fine and dandy” after an attack on a Saudi-operated oil…
    #Conflict #Conflicts #War #DonaldTrump #geopolitics #Iran #israeliprimeminister #MicheálMartin #nuclearweapon #oilpipeline #oilprices
    europesays.com/3247405/

  6. Lazy Caturday Reads: Trump Focuses on Golf While His War Spins Out of Control.

    Good Afternoon!!

    A New Arrival, by Walter Osborne (Irish artist)

    This post is focused on major developments in Trump’s war and his seeming lack of concern about them.

    While the situation in the Middle East was spinning out of control, Trump was partying at the “midterm convention” in Dallas.  Today, as the Saudis are forced to shut down a vital oil pipeline, Trump is in Ireland to watch a golf tournament at his own property in Doonbeg.

    In order to justify spending millions in taxpayer money for a pleasure trip, Trump met briefly with Irish politicians and addressed a group of business leaders and embassy employees at the U.S. embassy. Of course, he managed to embarrass himself (and us). And guess who accompanied Trump to the Emerald Isle? No, not Melania. Natalie Harp.

    But first, the war. Attacks by the Houthis have led to the shutdown of Saudi Arabia’s main pipeline for moving their oil.

    Nick Robinson and Lauren Kent at CNN: ‘A f***-up of epic proportions’: Blame game begins after Iran-backed Houthis’ lightning advance down Red Sea coast.

    The desperate pleas for air cover from Yemeni generals started coming mid-morning on Thursday. An advance by the Iran-backed Houthis toward Yemen’s strategic port city of Mocha was in full swing, and backup support from chief ally Saudi Arabia was nowhere in sight.

    “The Houthis committed everything they had – waves upon waves of fighters … along with their available ballistic missiles and weapons,” a senior Yemeni source attached to their military forces told CNN. The source said he contacted the United States Central Command (CENTCOM) and was assured the US was “watching the situation closely and that Saudi air support was coming.”

    “But the air support never came,” the source said. “And Mocha has now fallen.”

    Hours later, on Friday, the Houthis captured another key coastal asset, Perim Island, at the mouth of the Red Sea. The island splits the Bab al-Mandeb Strait in two, giving Tehran de facto control over another key shipping route.

    The Houthis’ rapid advance amounts to an extraordinary 36 hours in a conflict that had been largely on ice for years. But the kindling for renewed fighting had been laid for months amid the conflict between the United States and Iran, as Tehran seeks to use oil prices – and their impact on the global economy – as leverage.

    Now, Yemen and the Red Sea have the potential to become a true second front in the Iran war.

    A bit more detail:

    Iran’s effective control of the Strait of Hormuz plus its tightening grip on the Bab al-Mandeb Strait threatens to push oil prices even higher, weeks before November’s midterm elections in the United States.

    Young Woman with Cats, by Lovis Corinth (German artist)

    While the Bab al-Mandeb Strait, the gateway to the Suez Canal shipping route, is less critical to global energy markets than Hormuz, it still carries essential goods worldwide, including millions of barrels of oil every day. The strait has become increasingly important since the start of the Iran war, as Saudi Arabia has re-routed some exports through the waterway to bypass Hormuz.

    “(The Houthis) don’t need to use advanced weapons to close Bab al-Mandeb. They can just use a cannon on a car,” said Amr Al-Bidh, the top official of Yemen’s Southern Transitional Council (STC). The STC has fought both the Houthis and Saudi-backed forces in the past, and wants an independent state in the south.

    “It’s a leverage that they have without using advanced weapons,” Al-Bidh told CNN in an interview. “And they will keep it.”

    It wasn’t just Yemen begging Trump for assistance. He also got calls from Saudi crown prince Mohammed bin Salman. Barak Ravis at Axios: MBS urged Trump to strike Houthis amid Red Sea threat.

    Saudi Crown Prince Mohammed bin Salman (MBS) called President Trump twice Thursday, urging him to launch strikes against the Houthis as the Iran-backed group closed in on a vital Red Sea chokepoint, two U.S. officials told Axios.

    • Trump declined, and U.S. officials stressed the administration has no plans to intervene directly against the Houthis for now.

    Why it matters: Oil prices surged Thursday as the Houthis seized a strategic coastal city in Yemen, pushing them closer to the Bab al-Mandab Strait — a vital artery for global trade and Saudi oil exports.

    • With Iran already disrupting traffic through the Strait of Hormuz, Houthi control of Bab al-Mandab could give Tehran a powerful new point of leverage over the U.S. and its Gulf allies.

    The latest: Reuters reported Friday morning that the Houthis had taken control of a key island in the strait.

    • They also reported that smoke was seen over the key east-west Saudi oil pipeline, though the source was not clear.

    Driving the news: The U.S. is concerned about the rapidly escalating fight in Yemen and is stepping up support for Saudi Arabia while trying to avoid direct military involvement.

    Adm. Brad Cooper, the commander of U.S. Central Command, traveled to Saudi Arabia on Thursday for urgent coordination meetings, two sources with knowledge of the matter said.

    I’m not a military expert; but from what I’m reading, Trump’s war is rapidly getting bigger and more uncontrollable.

    Oliver Holmes at The Guardian: Nearly 50,000 Yemeni civilians flee as Houthis advance along Red Sea coast.

    Nearly 50,000 people have fled a sudden advance by Houthi forces in western Yemen, with entire villages emptied and families trapped near frontline fighting with depleting food supplies, according to aid workers.

    Nora Heysen (Australian, 1911-2003) – A Boy with his cat

    Civilians in the Middle East’s poorest country have found themselves victims of a global struggle for control over one of the most important shipping routes in the world, which threatens to turn Yemen’s on-off conflict into a forever war.

    In a lightning advance this week, the Iran-backed Houthi militants have seized a string of towns along the Red Sea coast from forces aligned with the US- and Saudi-backed Yemeni government. Hundreds of people are reported to have been killed. Many fear a return to the full-scale civil war that killed 150,000 and brought many others to the brink of famine….

    The UN International Organization for Migration (IOM) said on Friday that 46,000 people had been displaced across the governates of Taiz and Hodeidah, where steep verdant mountain ridges give way to arid coastal plains. For many families, this was their second or even third time they had been forced out of their homes.

    A significant number of people were observed to be leaving the city with their belongings. Fighting has cut key roads, while phone lines are down in some areas. “The scale of displacement is increasing rapidly,” said Joe Lowry, IOM’s Middle East and north Africa spokesperson in Cairo.

    The Saudis have shut down a pipeline after an attack that originated in Iraq.

    Freddie Clayton at NBC News: Saudi Arabia’s shutdown of key pipeline limits oil flow as Yemen hits back against Houthis.

    Saudi Arabia has closed a critical oil pipeline after it was struck by drones launched from Iraq, with the latest squeeze reverberating through the region Saturday as attacks by Iran-backed Houthi rebels threatened to deepen the world’s energy crisis.

    The 745-mile pipeline had helped Saudi Arabia, the world’s largest crude oil exporter, bypass the blocked Strait of Hormuz, through which some 20% of the world’s oil used to pass before the U.S. and Israel waged war on Iran in late February.

    The Saudi Energy Ministry confirmed the shutdown of the East-West pipeline on Friday, adding that drone attacks had resulted in a number of injuries and that its teams were “taking the necessary measures to secure the pipeline and assess its safety.”

    By Zoya Scholis

    Saudi Arabia said that, following a request from Iraq’s prime minister, it would not retaliate for now but reserves the right to take all necessary measures to protect its sovereignty, security and critical facilities, according to a Saudi Foreign Ministry statement.

    An Iraqi military commander was dismissed early on Saturday after investigations confirmed the latest drone attacks targeting Saudi Arabia originated from Iraq, according to a statement by Iraq‘s prime minister’s office. An umbrella group of Iran-backed militias in Iraq denied its involvement.

    Iraq also closed two key border crossings with Iran, Iraq’s state-run news agency reported Saturday.

    Kuwait, a U.S. ally in the region, warned that the pipeline attack was a “dangerous escalation that undermines the security and stability of the region” while Bahrain stressed Saudi Arabia’s right to “take all necessary measures to protect its sovereignty.”

    Meanwhile, In Ireland Trump seemed unconcerned:

    U.S. President Donald Trump said on ⁠Saturday that everything would “work out just ⁠fine” when asked about the region on a visit to Ireland. He also said, without providing evidence, that Iran was “probably” behind the pipeline attack.

    The pipeline strikes came as rebel Houthi forces in Yemen captured Perim, an island in the middle of the vital Bab el Mandeb Strait that serves as a gateway to the Red Sea trade route that links Europe and Asia.

    Trump also said the Iran War would most likely end after the midterm elections.

    Azhar Sukri at CNBC: Trump sees Iran war ending soon after mid-term elections, predicts oil prices will then fall sharply.

    The war in Iran will likely end soon after November’s mid-term elections, President Donald Trump said Saturday, and predicted that energy prices would fall sharply once that happens.

    “I think very soon, I think it’ll be right after the mid-terms, actually,” Trump said on a trip to Ireland when asked by reporters when the Iran war is likely to end. “I would say shortly, and oil will come tumbling down when that happens,”

    Hans Heyerdahl, Girl with a Cat (Norwegian artist)

    Oil prices retreated on Friday, but notched sharp weekly gains after soaring above $100 a barrel for the first time in months.

    Brent crude oil futures, the global benchmark, settled down 2.8% at $104.61 a barrel. U.S. West Texas Intermediate was down 2.4% to settle at $100.05 per barrel. On Thursday, Brent crude peaked at around $108 a barrel, while WTI hit more than $104.

    The price decline came after Iranian state media said Tehran will meet with Gulf states in Oman to discuss the Strait of Hormuz, indicating some diplomacy is taking place despite a week of sharp escalation.

    MS NOW quoted a senior government official and a Gulf diplomat as saying that Iranian and Gulf officials will meet in Oman’s capital, Muscat, on Monday to sign an agreement that will establish an Iran-Oman shipping route through the Strait of Hormuz.

    But Iranian President Masoud Pezeshkian said his country will not surrender, adding that it has resisted aggression from the U.S. and Israel.

    “Iran has successfully stood against Israel and the U.S.,” Pezeshkian said late Friday as he addressed a gathering of Indian religious leaders in New Delhi. “Since we are seeking truth and justice, we will not yield in front of bullying arrogance.”

    One more on the war and the oil situation from Lisa Friedman, Jenny Gross, and Rebecca F. Elliott at The New York Times (gift link): Gulf Tankers Are Running Out of Ways to Export Oil: ‘These Waters Aren’t Safe.’

    The world’s most valuable energy corridors are pinching shut.

    On Friday, Houthi militants backed by Iran expanded their control of the Red Sea, threatening a critical route for Persian Gulf crude. That left the region with few alternatives, since shipping traffic through the Strait of Hormuz — once the world’s primary oil transit point — remains significantly constrained and far below what it was before the war.

    A Girl with a Black Cat by the Dutch artist Frida Holleman (1908–1999)

    And oil exports from Saudi Arabia, long the most important producer in the Middle East, plunged last month to their lowest point in at least 13 years.

    The U.S. Navy has been able to keep oil flowing out of the Strait of Hormuz on sea paths close to the coast of Oman, the opposite side from Iran. But that has required an extensive and dangerous operation.

    For shipping companies, the once routine operation of navigating the strait has become a high-risk endeavor. At least 23 ships were hit in the waterway near Oman in July and August. Since the war began at the end of February, at least 22 sailors have been killed in the Middle East.

    “These waters aren’t safe,” said Michelle Wiese Bockmann, an analyst at Windward, a maritime intelligence company.

    As the war in Iran nears its seventh month, it appears to be spinning out of control, analysts said. With no diplomatic end in sight, the Middle East, the epicenter of energy production, is facing its most severe supply crisis in decades.

    The Trump administration “has been using a variety of tools very effectively to keep the oil price and the gasoline price at bay,” said Amos Hochstein, who served as a foreign affairs and energy adviser in the Biden administration. But now, he said, fewer options are available to President Trump and his team. “They’re “stuck.”

    You can use the gift link to read the rest if you’re interested.

    Trump was in Dublin this morning to justify spending taxpayer money on his golf trip. Natalie Harp was was there, lined up with the Trump family on the receiving line.

    Natalie Harp on the receiving line in Dublin.

     

    The AP via NPR: Trump meets Ireland’s leaders before heading to his golf club in Doonbeg.

    U.S. President Donald Trump held talks Saturday in Dublin with his Irish counterpart Catherine Connolly during a weekend visit that’s more about a major golf tournament hosted on a course he owns on the country’s Atlantic coast. He also met with Ireland’s Prime Minister Micheál Martin.

    Trump will address the U.S. and Irish business leaders at the U.S. ambassador’s official residence in Dublin before traveling to his oceanfront golf club in Doonbeg, on the other side of the country, to watch the Irish Open.

    Connolly is a left-wing politician who was among those who protested when Trump visited Ireland in 2019 during his first term in office. She is now Ireland’s elected, largely ceremonial head of state. A supporter of the Palestinian cause, she in the past has criticized U.S. policy in the Middle East and called Trump a “bully.”

    The Irish president met Trump at the end of a red carpet at her official residence. They shook hands and chatted before going inside. He emerged alone a few minutes later and saluted as an Irish Defence Forces band played the U.S. national anthem and inspected an Irish Army honor guard.

    Connolly then joined Trump outdoors to introduce the U.S. and Irish delegations before the leaders went back inside for their closed-door talks.

    Trump’s visit is the latest example of blending his official duties and personal interests.

    There’s more to read at the link.

    Trump embarrassed himself at the meeting with business leaders. He came across as confused and incoherent. If you want the details, you can check out Aaron Rupar’s posts at Bluesky. The big headline was that he said he supports Irish unification.

    Zolan Kanno-Youngs and Luke Broadwater at The New York Times (gift link): Trump Says Irish Unification Would Be ‘Fantastic,’ Breaking With Precedent.

    Shortly after setting foot in Dublin, President Trump on Saturday said it would be “fantastic” if Northern Ireland and the Republic of Ireland unified, breaking with decades of U.S. neutrality on an issue rooted in a long history of violence.

    “I don’t want to cause any problem. I will tell you, I’d love to see it unified,” Mr. Trump said in Dublin alongside Micheál Martin, Ireland’s taoiseach, or prime minister. “It’s going to happen eventually.”

    Lilian Lancaster – The Boy and the Cat, 1933

    He later seemed to acknowledge that he had stepped into a politically problematic topic.

    The American president said he still believed it would “be a cool thing” if Northern Ireland broke away from the United Kingdom, but joked that half the room would clear out after hearing his remarks.

    “No matter how well you say it, there’s no good answer,” Mr. Trump told a crowd of embassy employees and business leaders gathered at Deerfield Residence, where the U.S. ambassador lives.

    The United States has long supported the U.S.-brokered 1998 Belfast Agreement, also known as the Good Friday Agreement, which brokered a fragile peace that ended roughly three decades of violence between those seeking a united Ireland and unionists who wanted Northern Ireland to remain a part of the United Kingdom.

    Part of that peace agreement was that Northern Ireland would remain part of the United Kingdom until a majority of its people voted otherwise in a referendum. For the island to be reunified, a majority of voters in the Republic of Ireland would also have to cast ballots in favor of the initiative.

    Reunification is highly divisive in Northern Ireland, a nation carved out of the island of Ireland by the British after the Republic of Ireland became independent, because some fear a return to violence. And while a majority of citizens of the Republic of Ireland support the initiative, successive Irish governments have trod cautiously around the delicate issue.

    Use the gift link to read more, if you wish.

    Some commentary from a piece by Rory Carroll at The Guardian: Donald Trump says he would ‘love’ to see united Ireland.

    Gavin Robinson, the Democratic Unionist party (DUP) leader, said Northern Ireland’s constitutional future would be decided by its people, not by commentary in London, Dublin or Washington.

    By Nikolai Alexandrovich Yaroshenko (Ukrainien 1846-1898)

    “Northern Ireland is part of the United Kingdom because that is the settled democratic will of its people. I am confident Northern Ireland will continue to choose the UK and the security it offers. As unionists we are not interested in the destruction of our country by joining with the Irish republic.”

    Colum Eastwood, an MP and former leader of the Social Democratic and Labour party (SDLP), and frequent critic of Trump, posted a clip of the president’s remarks on social media and wrote: “Always liked him.”

    The Conservative leader, Kemi Badenoch, said: “President Trump is shooting from the hip as usual, just like he did with Greenland and Canada becoming the 51st state. This sort of loose talk about the future of democratic countries is deeply unhelpful and creates unnecessary tension.”

    Trump’s comments strayed from predecessors who sought to keep the White House neutral on Ireland’s constitutional future, but the off-the-cuff nature of the remarks suggested there was no change in US policy.

    Read more about Trump’s brief visit with Irish officials and the meeting at the ambassador’s residence at the Guardian link.

    Maybe we should be glad Trump isn’t in Washington making stupid decisions. Anyway, these are the stories that seemed most significant to me today. What do you think? What other stories are you following?

    #catArt #caturday #DonaldTrump #golf #Houthis #IranWar #IRAQ #IrishUnification #oilPrices #RedSea #SaudiArabia #SaudiOilPipeline #Yemen
  7. Lazy Caturday Reads: Trump Focuses on Golf While His War Spins Out of Control.

    Good Afternoon!!

    A New Arrival, by Walter Osborne (Irish artist)

    This post is focused on major developments in Trump’s war and his seeming lack of concern about them.

    While the situation in the Middle East was spinning out of control, Trump was partying at the “midterm convention” in Dallas.  Today, as the Saudis are forced to shut down a vital oil pipeline, Trump is in Ireland to watch a golf tournament at his own property in Doonbeg.

    In order to justify spending millions in taxpayer money for a pleasure trip, Trump met briefly with Irish politicians and addressed a group of business leaders and embassy employees at the U.S. embassy. Of course, he managed to embarrass himself (and us). And guess who accompanied Trump to the Emerald Isle? No, not Melania. Natalie Harp.

    But first, the war. Attacks by the Houthis have led to the shutdown of Saudi Arabia’s main pipeline for moving their oil.

    Nick Robinson and Lauren Kent at CNN: ‘A f***-up of epic proportions’: Blame game begins after Iran-backed Houthis’ lightning advance down Red Sea coast.

    The desperate pleas for air cover from Yemeni generals started coming mid-morning on Thursday. An advance by the Iran-backed Houthis toward Yemen’s strategic port city of Mocha was in full swing, and backup support from chief ally Saudi Arabia was nowhere in sight.

    “The Houthis committed everything they had – waves upon waves of fighters … along with their available ballistic missiles and weapons,” a senior Yemeni source attached to their military forces told CNN. The source said he contacted the United States Central Command (CENTCOM) and was assured the US was “watching the situation closely and that Saudi air support was coming.”

    “But the air support never came,” the source said. “And Mocha has now fallen.”

    Hours later, on Friday, the Houthis captured another key coastal asset, Perim Island, at the mouth of the Red Sea. The island splits the Bab al-Mandeb Strait in two, giving Tehran de facto control over another key shipping route.

    The Houthis’ rapid advance amounts to an extraordinary 36 hours in a conflict that had been largely on ice for years. But the kindling for renewed fighting had been laid for months amid the conflict between the United States and Iran, as Tehran seeks to use oil prices – and their impact on the global economy – as leverage.

    Now, Yemen and the Red Sea have the potential to become a true second front in the Iran war.

    A bit more detail:

    Iran’s effective control of the Strait of Hormuz plus its tightening grip on the Bab al-Mandeb Strait threatens to push oil prices even higher, weeks before November’s midterm elections in the United States.

    Young Woman with Cats, by Lovis Corinth (German artist)

    While the Bab al-Mandeb Strait, the gateway to the Suez Canal shipping route, is less critical to global energy markets than Hormuz, it still carries essential goods worldwide, including millions of barrels of oil every day. The strait has become increasingly important since the start of the Iran war, as Saudi Arabia has re-routed some exports through the waterway to bypass Hormuz.

    “(The Houthis) don’t need to use advanced weapons to close Bab al-Mandeb. They can just use a cannon on a car,” said Amr Al-Bidh, the top official of Yemen’s Southern Transitional Council (STC). The STC has fought both the Houthis and Saudi-backed forces in the past, and wants an independent state in the south.

    “It’s a leverage that they have without using advanced weapons,” Al-Bidh told CNN in an interview. “And they will keep it.”

    It wasn’t just Yemen begging Trump for assistance. He also got calls from Saudi crown prince Mohammed bin Salman. Barak Ravis at Axios: MBS urged Trump to strike Houthis amid Red Sea threat.

    Saudi Crown Prince Mohammed bin Salman (MBS) called President Trump twice Thursday, urging him to launch strikes against the Houthis as the Iran-backed group closed in on a vital Red Sea chokepoint, two U.S. officials told Axios.

    • Trump declined, and U.S. officials stressed the administration has no plans to intervene directly against the Houthis for now.

    Why it matters: Oil prices surged Thursday as the Houthis seized a strategic coastal city in Yemen, pushing them closer to the Bab al-Mandab Strait — a vital artery for global trade and Saudi oil exports.

    • With Iran already disrupting traffic through the Strait of Hormuz, Houthi control of Bab al-Mandab could give Tehran a powerful new point of leverage over the U.S. and its Gulf allies.

    The latest: Reuters reported Friday morning that the Houthis had taken control of a key island in the strait.

    • They also reported that smoke was seen over the key east-west Saudi oil pipeline, though the source was not clear.

    Driving the news: The U.S. is concerned about the rapidly escalating fight in Yemen and is stepping up support for Saudi Arabia while trying to avoid direct military involvement.

    Adm. Brad Cooper, the commander of U.S. Central Command, traveled to Saudi Arabia on Thursday for urgent coordination meetings, two sources with knowledge of the matter said.

    I’m not a military expert; but from what I’m reading, Trump’s war is rapidly getting bigger and more uncontrollable.

    Oliver Holmes at The Guardian: Nearly 50,000 Yemeni civilians flee as Houthis advance along Red Sea coast.

    Nearly 50,000 people have fled a sudden advance by Houthi forces in western Yemen, with entire villages emptied and families trapped near frontline fighting with depleting food supplies, according to aid workers.

    Nora Heysen (Australian, 1911-2003) – A Boy with his cat

    Civilians in the Middle East’s poorest country have found themselves victims of a global struggle for control over one of the most important shipping routes in the world, which threatens to turn Yemen’s on-off conflict into a forever war.

    In a lightning advance this week, the Iran-backed Houthi militants have seized a string of towns along the Red Sea coast from forces aligned with the US- and Saudi-backed Yemeni government. Hundreds of people are reported to have been killed. Many fear a return to the full-scale civil war that killed 150,000 and brought many others to the brink of famine….

    The UN International Organization for Migration (IOM) said on Friday that 46,000 people had been displaced across the governates of Taiz and Hodeidah, where steep verdant mountain ridges give way to arid coastal plains. For many families, this was their second or even third time they had been forced out of their homes.

    A significant number of people were observed to be leaving the city with their belongings. Fighting has cut key roads, while phone lines are down in some areas. “The scale of displacement is increasing rapidly,” said Joe Lowry, IOM’s Middle East and north Africa spokesperson in Cairo.

    The Saudis have shut down a pipeline after an attack that originated in Iraq.

    Freddie Clayton at NBC News: Saudi Arabia’s shutdown of key pipeline limits oil flow as Yemen hits back against Houthis.

    Saudi Arabia has closed a critical oil pipeline after it was struck by drones launched from Iraq, with the latest squeeze reverberating through the region Saturday as attacks by Iran-backed Houthi rebels threatened to deepen the world’s energy crisis.

    The 745-mile pipeline had helped Saudi Arabia, the world’s largest crude oil exporter, bypass the blocked Strait of Hormuz, through which some 20% of the world’s oil used to pass before the U.S. and Israel waged war on Iran in late February.

    The Saudi Energy Ministry confirmed the shutdown of the East-West pipeline on Friday, adding that drone attacks had resulted in a number of injuries and that its teams were “taking the necessary measures to secure the pipeline and assess its safety.”

    By Zoya Scholis

    Saudi Arabia said that, following a request from Iraq’s prime minister, it would not retaliate for now but reserves the right to take all necessary measures to protect its sovereignty, security and critical facilities, according to a Saudi Foreign Ministry statement.

    An Iraqi military commander was dismissed early on Saturday after investigations confirmed the latest drone attacks targeting Saudi Arabia originated from Iraq, according to a statement by Iraq‘s prime minister’s office. An umbrella group of Iran-backed militias in Iraq denied its involvement.

    Iraq also closed two key border crossings with Iran, Iraq’s state-run news agency reported Saturday.

    Kuwait, a U.S. ally in the region, warned that the pipeline attack was a “dangerous escalation that undermines the security and stability of the region” while Bahrain stressed Saudi Arabia’s right to “take all necessary measures to protect its sovereignty.”

    Meanwhile, In Ireland Trump seemed unconcerned:

    U.S. President Donald Trump said on ⁠Saturday that everything would “work out just ⁠fine” when asked about the region on a visit to Ireland. He also said, without providing evidence, that Iran was “probably” behind the pipeline attack.

    The pipeline strikes came as rebel Houthi forces in Yemen captured Perim, an island in the middle of the vital Bab el Mandeb Strait that serves as a gateway to the Red Sea trade route that links Europe and Asia.

    Trump also said the Iran War would most likely end after the midterm elections.

    Azhar Sukri at CNBC: Trump sees Iran war ending soon after mid-term elections, predicts oil prices will then fall sharply.

    The war in Iran will likely end soon after November’s mid-term elections, President Donald Trump said Saturday, and predicted that energy prices would fall sharply once that happens.

    “I think very soon, I think it’ll be right after the mid-terms, actually,” Trump said on a trip to Ireland when asked by reporters when the Iran war is likely to end. “I would say shortly, and oil will come tumbling down when that happens,”

    Hans Heyerdahl, Girl with a Cat (Norwegian artist)

    Oil prices retreated on Friday, but notched sharp weekly gains after soaring above $100 a barrel for the first time in months.

    Brent crude oil futures, the global benchmark, settled down 2.8% at $104.61 a barrel. U.S. West Texas Intermediate was down 2.4% to settle at $100.05 per barrel. On Thursday, Brent crude peaked at around $108 a barrel, while WTI hit more than $104.

    The price decline came after Iranian state media said Tehran will meet with Gulf states in Oman to discuss the Strait of Hormuz, indicating some diplomacy is taking place despite a week of sharp escalation.

    MS NOW quoted a senior government official and a Gulf diplomat as saying that Iranian and Gulf officials will meet in Oman’s capital, Muscat, on Monday to sign an agreement that will establish an Iran-Oman shipping route through the Strait of Hormuz.

    But Iranian President Masoud Pezeshkian said his country will not surrender, adding that it has resisted aggression from the U.S. and Israel.

    “Iran has successfully stood against Israel and the U.S.,” Pezeshkian said late Friday as he addressed a gathering of Indian religious leaders in New Delhi. “Since we are seeking truth and justice, we will not yield in front of bullying arrogance.”

    One more on the war and the oil situation from Lisa Friedman, Jenny Gross, and Rebecca F. Elliott at The New York Times (gift link): Gulf Tankers Are Running Out of Ways to Export Oil: ‘These Waters Aren’t Safe.’

    The world’s most valuable energy corridors are pinching shut.

    On Friday, Houthi militants backed by Iran expanded their control of the Red Sea, threatening a critical route for Persian Gulf crude. That left the region with few alternatives, since shipping traffic through the Strait of Hormuz — once the world’s primary oil transit point — remains significantly constrained and far below what it was before the war.

    A Girl with a Black Cat by the Dutch artist Frida Holleman (1908–1999)

    And oil exports from Saudi Arabia, long the most important producer in the Middle East, plunged last month to their lowest point in at least 13 years.

    The U.S. Navy has been able to keep oil flowing out of the Strait of Hormuz on sea paths close to the coast of Oman, the opposite side from Iran. But that has required an extensive and dangerous operation.

    For shipping companies, the once routine operation of navigating the strait has become a high-risk endeavor. At least 23 ships were hit in the waterway near Oman in July and August. Since the war began at the end of February, at least 22 sailors have been killed in the Middle East.

    “These waters aren’t safe,” said Michelle Wiese Bockmann, an analyst at Windward, a maritime intelligence company.

    As the war in Iran nears its seventh month, it appears to be spinning out of control, analysts said. With no diplomatic end in sight, the Middle East, the epicenter of energy production, is facing its most severe supply crisis in decades.

    The Trump administration “has been using a variety of tools very effectively to keep the oil price and the gasoline price at bay,” said Amos Hochstein, who served as a foreign affairs and energy adviser in the Biden administration. But now, he said, fewer options are available to President Trump and his team. “They’re “stuck.”

    You can use the gift link to read the rest if you’re interested.

    Trump was in Dublin this morning to justify spending taxpayer money on his golf trip. Natalie Harp was was there, lined up with the Trump family on the receiving line.

    Natalie Harp on the receiving line in Dublin.

     

    The AP via NPR: Trump meets Ireland’s leaders before heading to his golf club in Doonbeg.

    U.S. President Donald Trump held talks Saturday in Dublin with his Irish counterpart Catherine Connolly during a weekend visit that’s more about a major golf tournament hosted on a course he owns on the country’s Atlantic coast. He also met with Ireland’s Prime Minister Micheál Martin.

    Trump will address the U.S. and Irish business leaders at the U.S. ambassador’s official residence in Dublin before traveling to his oceanfront golf club in Doonbeg, on the other side of the country, to watch the Irish Open.

    Connolly is a left-wing politician who was among those who protested when Trump visited Ireland in 2019 during his first term in office. She is now Ireland’s elected, largely ceremonial head of state. A supporter of the Palestinian cause, she in the past has criticized U.S. policy in the Middle East and called Trump a “bully.”

    The Irish president met Trump at the end of a red carpet at her official residence. They shook hands and chatted before going inside. He emerged alone a few minutes later and saluted as an Irish Defence Forces band played the U.S. national anthem and inspected an Irish Army honor guard.

    Connolly then joined Trump outdoors to introduce the U.S. and Irish delegations before the leaders went back inside for their closed-door talks.

    Trump’s visit is the latest example of blending his official duties and personal interests.

    There’s more to read at the link.

    Trump embarrassed himself at the meeting with business leaders. He came across as confused and incoherent. If you want the details, you can check out Aaron Rupar’s posts at Bluesky. The big headline was that he said he supports Irish unification.

    Zolan Kanno-Youngs and Luke Broadwater at The New York Times (gift link): Trump Says Irish Unification Would Be ‘Fantastic,’ Breaking With Precedent.

    Shortly after setting foot in Dublin, President Trump on Saturday said it would be “fantastic” if Northern Ireland and the Republic of Ireland unified, breaking with decades of U.S. neutrality on an issue rooted in a long history of violence.

    “I don’t want to cause any problem. I will tell you, I’d love to see it unified,” Mr. Trump said in Dublin alongside Micheál Martin, Ireland’s taoiseach, or prime minister. “It’s going to happen eventually.”

    Lilian Lancaster – The Boy and the Cat, 1933

    He later seemed to acknowledge that he had stepped into a politically problematic topic.

    The American president said he still believed it would “be a cool thing” if Northern Ireland broke away from the United Kingdom, but joked that half the room would clear out after hearing his remarks.

    “No matter how well you say it, there’s no good answer,” Mr. Trump told a crowd of embassy employees and business leaders gathered at Deerfield Residence, where the U.S. ambassador lives.

    The United States has long supported the U.S.-brokered 1998 Belfast Agreement, also known as the Good Friday Agreement, which brokered a fragile peace that ended roughly three decades of violence between those seeking a united Ireland and unionists who wanted Northern Ireland to remain a part of the United Kingdom.

    Part of that peace agreement was that Northern Ireland would remain part of the United Kingdom until a majority of its people voted otherwise in a referendum. For the island to be reunified, a majority of voters in the Republic of Ireland would also have to cast ballots in favor of the initiative.

    Reunification is highly divisive in Northern Ireland, a nation carved out of the island of Ireland by the British after the Republic of Ireland became independent, because some fear a return to violence. And while a majority of citizens of the Republic of Ireland support the initiative, successive Irish governments have trod cautiously around the delicate issue.

    Use the gift link to read more, if you wish.

    Some commentary from a piece by Rory Carroll at The Guardian: Donald Trump says he would ‘love’ to see united Ireland.

    Gavin Robinson, the Democratic Unionist party (DUP) leader, said Northern Ireland’s constitutional future would be decided by its people, not by commentary in London, Dublin or Washington.

    By Nikolai Alexandrovich Yaroshenko (Ukrainien 1846-1898)

    “Northern Ireland is part of the United Kingdom because that is the settled democratic will of its people. I am confident Northern Ireland will continue to choose the UK and the security it offers. As unionists we are not interested in the destruction of our country by joining with the Irish republic.”

    Colum Eastwood, an MP and former leader of the Social Democratic and Labour party (SDLP), and frequent critic of Trump, posted a clip of the president’s remarks on social media and wrote: “Always liked him.”

    The Conservative leader, Kemi Badenoch, said: “President Trump is shooting from the hip as usual, just like he did with Greenland and Canada becoming the 51st state. This sort of loose talk about the future of democratic countries is deeply unhelpful and creates unnecessary tension.”

    Trump’s comments strayed from predecessors who sought to keep the White House neutral on Ireland’s constitutional future, but the off-the-cuff nature of the remarks suggested there was no change in US policy.

    Read more about Trump’s brief visit with Irish officials and the meeting at the ambassador’s residence at the Guardian link.

    Maybe we should be glad Trump isn’t in Washington making stupid decisions. Anyway, these are the stories that seemed most significant to me today. What do you think? What other stories are you following?

    #catArt #caturday #DonaldTrump #golf #Houthis #IranWar #IRAQ #IrishUnification #oilPrices #RedSea #SaudiArabia #SaudiOilPipeline #Yemen
  8. Azhar Sukri reports that oil prices could face a significant drop soon. President Trump suggested that the conflict with Iran may conclude following the November midterm elections, potentially causing energy costs to fall. The piece explores how diplomatic negotiations and regional tensions in Oman impact global markets and maritime safety. Understanding these geopolitical dynamics is essential for grasping modern economic fluctuations. Read more about these developments at the link below. Azhar Sukri provided excellent reporting on this complex situation.
    cnbc.com/2026/09/12/trump-sees #OilPrices #Iran #Trump #Geopolitics

  9. Trump Blames Iran for Saudi Oil Pipeline Attack Then Brags About Strait of Hormuz: ‘So Incredible’

    President Donald Trump claimed Iran is “probably” responsible for an attack on a critical Middle Eastern oil pipeline…
    #NewsBeep #News #BreakingNews #breakingnews #Iran #IrishPrimeMinister #MicheálMartin #navalblockade #Oilpipeline #oilprices #PresidentDonaldTrump #StraitofHormuz
    newsbeep.com/728811/

  10. [NYTimes-Gifted article]: Saudis Shut Down Crucial Pipeline After Drone Attack From Iraq

    The news briefly pushed the price of oil to $110 a barrel over heightened fears of widening clashes in the Middle East. By Gregory Schmidt, Sept. 11, 2026

    nytimes.com/2026/09/11/busines

  11. [NYTimes-Gifted article]: Saudis Shut Down Crucial Pipeline After Drone Attack From Iraq

    The news briefly pushed the price of oil to $110 a barrel over heightened fears of widening clashes in the Middle East. By Gregory Schmidt, Sept. 11, 2026

    nytimes.com/2026/09/11/busines

    #usIsraelWar #iran #oilprices #oilmarkets #saudipipeline

  12. [NYTimes-Gifted article]: Gulf Tankers Are Running Out of Ways to Export Oil: ‘These Waters Aren’t Safe’

    Ship operators already faced severe risks in navigating the region, and now the danger is higher as Houthi militias assert control in the Red Sea. By Lisa FriedmanJenny Gross and Rebecca F. Elliott, September 11, 2026

    nytimes.com/2026/09/11/busines

  13. [NYTimes-Gifted article]: Gulf Tankers Are Running Out of Ways to Export Oil: ‘These Waters Aren’t Safe’

    Ship operators already faced severe risks in navigating the region, and now the danger is higher as Houthi militias assert control in the Red Sea. By Lisa FriedmanJenny Gross and Rebecca F. Elliott, September 11, 2026

    nytimes.com/2026/09/11/busines

    #usIsraelWar #straitofhormuz #redsea #houthis #oilprices #oilmarkets

  14. Drone Strikes Hit Saudi Arabia’s Vital East-West Oil Pipeline

    Saudi Arabia’s critical East-West oil pipeline system was struck on Thursday, with multiple pumping stations hit in an…
    #NewsBeep #News #Headlines #Aramco #CA #Canada #EastWestPipeline #oilprices #SaudiArabia #StraitofHormuz #Yanbu
    newsbeep.com/728555/

  15. 2/2 On top of that, oil prices are starting to rise again primarily due to the catastrophically unwise act of Trump attacking Iran.

    And no, you did not need hindsight to realise how bad an idea attacking Iran was.

    So #trump managed to get the Straight of Hormiz closed. Well done Donny.

    Now the Houthi militias have reportedly closed the Red Sea.

    Which will only aggravate the situation with the price of oil.

    #theperfectstorm #iran #oilprices #inflation

  16. Stocks Rebound as August CPI Matches Forecasts

    Wall Street recovered Friday after August CPI matched expectations, easing pressure from four straight losing sessions driven by oil above $104.

    pulseofnations.lol/stocks-rebo

    #Economy #Fed #Inflation #OilPrices #StockMarket #WallStreet

  17. Nifty, Sensex Trim Losses as Realty, Metal Stocks Slide; Oil Prices, Geopolitical Tensions Weigh on Indian Markets

    Indian equities remained in the red in afternoon trade on Friday, with sharp losses in realty and metal…
    #Politics #bondyields #brentcrude #financialstocks #geopoliticaltensions #geopolitics #indiavix #IndianEquities #metalstocks #nifty #NiftyIT #NiftyMetal #NiftyRealty #oilprices #Realtyindex #risk-off #sensex
    europesays.com/3245274/

  18. Hugh Leask reports: Soaring energy costs could spell disaster for private credit borrowers! Already grappling with high interest rates, they now face oil prices nearing $100. This threatens to reignite inflation and prompt more Federal Reserve rate hikes, creating a "double hit" of increased input costs and rising loan expenses. Fitch's private credit default rate is at a record 6.1%. Inflation, not just rates, is the true threat to these leveraged portfolios. Understand the full impact in this timely analysis by Hugh Leask.
    cnbc.com/2026/09/11/oil-privat #PrivateCredit #OilPrices #Inflation #FedPolicy

  19. Hugh Leask reports: Soaring energy costs could spell disaster for private credit borrowers! Already grappling with high interest rates, they now face oil prices nearing $100. This threatens to reignite inflation and prompt more Federal Reserve rate hikes, creating a "double hit" of increased input costs and rising loan expenses. Fitch's private credit default rate is at a record 6.1%. Inflation, not just rates, is the true threat to these leveraged portfolios. Understand the full impact in this timely analysis by Hugh Leask.
    cnbc.com/2026/09/11/oil-privat #PrivateCredit #OilPrices #Inflation #FedPolicy

  20. Asian Stocks Drop as Oil Jump Puts Yields Near Highs

    Asian equities and bonds fell Friday after US oil topped $100 and Brent hit a four-month high, with August CPI due at 8:30 a.m. ET set to shape the Fed's decision.

    pulseofnations.lol/asian-stock

    #Bonds #FederalReserve #Inflation #OilPrices #TreasuryYields

  21. Asian Stocks Drop as Oil Jump Puts Yields Near Highs

    Asian equities and bonds fell Friday after US oil topped $100 and Brent hit a four-month high, with August CPI due at 8:30 a.m. ET set to shape the Fed's decision.

    pulseofnations.lol/asian-stock

    #Bonds #FederalReserve #Inflation #OilPrices #TreasuryYields

  22. US strikes Iran after failed Iranian missile, mine attacks

    WASHINGTON (Gray DC) – The United States struck targets tied to Iran hours after Iran attempted to attack…
    #NewsBeep #News #BreakingNews #breakingnews #Brentcrudeoil #Dc #DonaldTrump #Iran #iranwar #iranianattack #MiddleEast #Oil #oilprices #POTUS #statedepartment #U.S.DepartmentofState #Washington
    newsbeep.com/714884/

  23. Gas Hits $4 a Gallon Again as Trump’s Iran War Grinds On With No Endgame

    Gas hits $4 a gallon again as Trump's Iran war reignites, and critics say the timing lines up a little too well with his Epstein files problem.

    thedemocracyadvocate.com/econo

  24. 🛢️ 𝐓𝐡𝐞 𝐔𝐀𝐄 𝐉𝐮𝐬𝐭 𝐋𝐞𝐟𝐭 𝐎𝐏𝐄𝐂 - 𝐈𝐬 𝐓𝐡𝐞 𝐎𝐢𝐥 𝐂𝐚𝐫𝐭𝐞𝐥 𝐎𝐯𝐞𝐫?
    #𝐨𝐩𝐞𝐜 #𝐮𝐚𝐞 #𝐜𝐚𝐫𝐭𝐞𝐥 #𝐨𝐢𝐥𝐩𝐫𝐢𝐜𝐞𝐬 #𝐠𝐚𝐬𝐩𝐫𝐢𝐜𝐞𝐬
    youtube.com/watch?v=xEPjnpGUOq
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    #OPEC #uae #carteles #oil #OilPrices #gas #gasprices
    #businesssuccess #BusinessNews #tbbtn #youtubevideo #shorts #reelschallenge #tiktok #vids #fypviralシ

  25. Fuel theft fears: Rural Wales on alert as prices rocket and criminals circle

    The warning has been issued by FUW Insurance Services Ltd after a dramatic spike in the cost of red diesel and heating oil linked to global instability.

    In just a matter of weeks, red diesel prices have surged from around 67p per litre to 109p — a jump of more than 60% — while heating oil has in some cases more than doubled to around £1.30 per litre.

    Carmarthenshire communities among hardest hit

    The impact is being felt most sharply in rural parts of the Swansea Bay region — particularly across Carmarthenshire, where reliance on heating oil remains high.

    Previous Swansea Bay News reporting has revealed just how exposed some communities are. In areas such as Llannon, Cross Hands and Pen-y-groes, around 69% of households rely on oil, while the figure stands at 65% in Abergwili, Llanegwad and Carmel. Even in places like Llanddarog, Llangyndeyrn and Ferryside, more than four in ten homes depend on oil.

    That leaves thousands of households vulnerable to sudden price shocks — and increasingly, to criminals.

    Fears of a surge in rural crime

    Experts say spikes in fuel costs have historically gone hand-in-hand with a rise in theft — and farms are often prime targets.

    Fuel tanks, agricultural machinery and storage units can all be vulnerable, with thieves able to strike quickly and cause serious damage in the process. Beyond the immediate financial hit, incidents can also lead to environmental harm if tanks are tampered with or fuel is spilled.

    Dafydd Peredur Jones of FUW Insurance Services Ltd said:

    “Rising fuel prices are placing additional pressure on rural communities, but they also increase the risk of theft.

    We are urging farmers and rural residents to take proactive steps to protect their fuel supplies and remain vigilant.”

    Not just farms in the firing line

    The warning extends beyond agriculture.

    Rural buildings such as churches, chapels, village halls and community centres — many of which rely on heating oil and may be left unattended — are also being urged to tighten security.

    Simple steps like monitoring fuel levels, securing tanks and installing CCTV could make all the difference.

    Part of a wider fuel crisis

    The alert comes as pressure continues to build across the region.

    Swansea Bay News has previously reported on growing fears over potential fuel rationing, alongside the real-world impact on businesses — including a Llanelli haulier facing staggering cost increases of up to £64,000 a week.

    At the same time, families across rural communities have been hit hard by soaring heating bills, with some seeing costs triple in a matter of months. Rising prices have also been linked to a resurgence in heating oil theft incidents across Wales.

    With global instability continuing to drive prices higher, communities across Carmarthenshire and the wider Swansea Bay region are now facing a double threat – sky-high costs and the growing risk of crime.

    “Remain vigilant”

    With no immediate sign of prices easing, the message from experts is clear: stay alert.

    For many across rural south west Wales, fuel isn’t a luxury — it’s essential for heating homes, running farms and keeping businesses moving.

    And as prices climb, protecting it has never been more important.

    #FarmersUnionOfWales #fuelCosts #FUW #heatingOil #IranConflict #oil #oilCrisis #oilHeating #oilPrices #oilTheft #RedDiesel #ruralCrime