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☆ Orcas Sink Another Boat Near Iberia, Worrying Sailors Before Summer
▼ + stars: | 2024-05-14 | by ( Isabella Kwai | More About Isabella Kwai | ) www.nytimes.com time to read: 1 min

Summer is on the way, meaning that the orcas are out to play near the Strait of Gibraltar — which is bad news for sailors. Two people were rescued on Sunday after an attack by a group of orcas caused enough damage to sink their boat, according to the Spanish maritime rescue service. Crew members onboard reported that the animals had slammed the hull, damaged the rudder and caused a leak. A nearby oil tanker quickly maneuvered toward the boat and evacuated the two sailors, who were taken to Gibraltar, the rescue service said. The boat was left adrift, and the Moroccan authorities reported that it eventually sank.

Organizations: Crew, Moroccan Locations: Gibraltar, North Africa, Cognac, Spartel, Morocco

☆ Orcas sink sailing yacht in Strait of Gibraltar
▼ + stars: | 2024-05-14 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

Reuters —An unknown number of orcas have sunk a sailing yacht after ramming it in Moroccan waters in the Strait of Gibraltar, Spain’s maritime rescue service said on Monday, a new attack in what has become a trend in the past four years. The passengers reported feeling sudden blows to the hull and rudder before water started seeping into the ship. After alerting the rescue services, a nearby oil tanker took them onboard and transported them to Gibraltar. The incident is the latest example of recurring orca rammings around the Gibraltar Strait that separates Europe from Africa and off the Atlantic coast of Portugal and northwestern Spain. Although known as killer whales, endangered orcas are part of the dolphin family.

Organizations: Reuters Locations: Strait, Gibraltar, Cognac, Europe, Africa, Portugal, Spain

☆ While Boeing's passenger planes glitch, NASA is entrusting the company's spaceship with 2 astronauts' lives
▼ + stars: | 2024-05-04 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +10 min

Boeing is about to fly NASA astronauts to the International Space Station for the first time. Still, the FAA, NASA, and other aerospace experts have questioned Boeing's overall safety culture. NASA astronauts Butch Wilmore and Suni Williams conduct suited operations in the Boeing Starliner simulator at NASA's Johnson Space Center. This Crew Flight Test mission is over a decade in the making. He added that those calculations are for a full 210-day mission, while Whilmore's and Williams's test flight lasts just one week.

Persons: —, NASA's Butch Wilmore, Suni Williams, Butch Wilmore, Robert Markowitz They're, jetliner, AeroSystems, Bill Nelson, Kim Shiflett, George Nield, Bjorn Fehrm, Fehrm, KPIs, Doug Loverro, Baz Ratner, Bill Ingalls, Steve Stich, Nield, We've, Wilmore, Starliner, Whitmore, Williams Organizations: Boeing, NASA, International Space Station, FAA, Service, Defense, Boeing's, International Space, Space Center, ISS, Max, NTSB, AP, Alaska Airlines, United Airlines, Federal Aviation Administration, Department of Justice, Atlas, Cape Canaveral Space Force, Space Transportation, New York Times, Leeham, Business, Ethiopian, Ethiopian Airlines, Aerospace, Committee, White, Bill Ingalls NASA, US, Spaceflight Locations: Portland, Florida, It's, New Mexico

☆ Shadow War Between Iran and Israel: A Timeline
▼ + stars: | 2024-04-19 | by ( Cassandra Vinograd | ) www.nytimes.com time to read: +1 min

For decades, Israel and Iran have fought a shadow war across the Middle East, trading attacks by land, sea, air and in cyberspace. A recent round of strikes — mainly an aerial barrage by Iran against Israel last weekend — has brought the conflict more clearly into the open and raised fears of a broader war. Iran hit back by attacking two bases in Iraq that housed American troops with a barrage of missiles, wounding about 100 U.S. military personnel. 2021-22: In July 2021, an oil tanker managed by an Israeli-owned shipping company was attacked off the coast of Oman, killing two crew members, according to the company and three Israeli officials. Two of the officials said that the attack appeared to have been carried out by Iranian drones.

Persons: —, Israel, Maj, Qassim Suleimani Organizations: Israel, Islamic Revolutionary Guards Corps Locations: Israel, Iran, Syria, Lebanon, Qaim, Iraq, Gen, Baghdad, Israeli, Oman

☆ 'Iran is in for the long haul' with oil tanker hijacks, expert says, as U.S. considers more sanctions
▼ + stars: | 2024-04-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Before this weekend's tanker seizure, the last vessel Iran hijacked was the St. Nikolas on January 1. A Planet Labs satellite image of the location of the MSC Aries and other tankers recently hijacked by Iran. Planet Labs PBCAs the U.S. considers more sanctions against Iran in response to its recent attack on Israel, Iran has been using the hijacked ships as a means of sanctions retaliation. Iran chose to do this as a way to compensate for sanctions," Madani said. In a note to clients, ClearView highlighted that the House of Representatives added several Iran sanctions bills to its calendar for consideration this week, under suspension rules, including new sanctions on Iranian oil exports to China.

Persons: Nikolas, Houthis, Samir Madani, Eyal Ofer's, Madani, Janet Yellen, Helima Croft, Andy Lipow, Brent, Lipow, Kevin Book, Book Organizations: Anadolu, Getty, MSC Aries, U.S . Naval Forces Central Command, Galaxy Leader, MSC, Planet Labs, U.S . Energy Information Agency, United Arab, JPMorgan, CNBC, Lipow Oil Associates, ClearView Energy Partners, US, UN Locations: Gulf of Oman, Hormuz, Anadolu, Iran, Israel, Gaza, U.S, Iranian, Khuran, China, Russia, Malaysia, United Arab Emirates, Oman, Strait, Tehran, East, North Africa, India, Saudi Arabia, Kuwait, Iraq, France, Germany

☆ Here’s how the Israel-Iran conflict affects the oil market
▼ + stars: | 2024-04-15 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

Oil prices spiked Friday to levels not seen since October in anticipation of just such an escalation but on Monday were subdued. “It is the most significant chokepoint in the global oil market,” Richard Bronze, co-founder and analyst at data firm Energy Aspects, told CNN. A renewed crackdown would, however, “create upward pressure on global prices” at an inopportune moment, Tagliapietra said. A tight oil marketDespite Iran’s barrage of drones and missiles, the conflict had a relatively muted impact on the global oil market Monday. Oil prices have already risen sharply since hitting a low in early February.

Persons: London CNN —, Brent, Israel —, Simone Tagliapietra, ” Richard Bronze, Tagliapietra, Joe Biden’s, WTI, Russia — Organizations: London CNN, West Texas Intermediate, CNN, International Energy Agency, Hamas, Organization of, Petroleum, United Arab Emirates, Traders Locations: Israel, Iran, Syria, Paris, Gaza, Tehran, Hormuz ‘, Hormuz, Brussels, China, Strait, Saudi Arabia, Kuwait, United States, Ukraine, Washington, Damascus, OPEC, Russia, Brazil, Guyana, Canada

☆ Iranian navy seizes Israel-linked container ship amid escalating tensions in Middle East
▼ + stars: | 2024-04-13 | by ( Adam Pourahmadi | Catherine Nicholls | ) edition.cnn.com time to read: +2 min

Mediterranean Shipping Company (MSC) has confirmed the seizure, saying there are 25 crew on board. Portugal’s government said that it was in touch with the Iranian authorities. The Strait of Hormuz, at the northern end of the Gulf of Oman, is the biggest oil chokepoint in the world. The United Kingdom’s Foreign Secretary, David Cameron, wrote on social media platform X that he had spoken with Israeli war cabinet minister Benny Gantz. The two discussed their “shared concerns about Iranian threats to attack Israel,” Cameron wrote, adding that “further escalation in the region is in no-one’s interest and risks further loss of civilian life.”

Persons: CNN —, IRNA, “, Eyal Ofer, Joe Biden, Daniel Hagari, Israel, David Cameron, Benny Gantz, ” Cameron, ” Organizations: CNN, CNN — Iran’s Revolutionary Guards, Iran’s Revolutionary Guard Corps, Navy, Zodiac, Mediterranean Shipping Company, United, Israel Defense Forces, United Kingdom’s Locations: Israeli, Hormuz, Iran, Syria, Portuguese, Gulf of Oman, Tehran, Iranian, United States, Damascus, Gaza, The Iran, Yemen, Red, Israel

☆ How the Baltimore bridge collapse spawned a torrent of instant conspiracy theories
▼ + stars: | 2024-03-28 | by ( Donie O'Sullivan | ) edition.cnn.com time to read: +9 min

It is entirely possibly that millions of Americans encountered false claims about the bridge collapse when they woke up Tuesday morning before ever seeing the facts. Politics is everythingWhat is perhaps most notable about how quickly and widely conspiracy theories about a breaking news story spread is just how normal this all is right now. Jewish space lasersAs news unfolded on Tuesday, the conspiracy theories continued. Greene has not weighed in on the cause of the bridge collapse. Jewish space lasers were not responsible for the wildfires, nor the Baltimore bridge collapse.

Persons: Francis Scott Key, Israel, ”, Ben Decker, Andrew Tate, Tate, Tate’s, Elon Musk, meekly, Sandy Hook, Alex Jones, “, ” Jones, Jones, Baltimore’s, Baltimore Mayor Brandon Scott, it’s, Biden, Taylor Swift, Joe Biden, Trump, X, David Simon, Simon, –, Marjorie Taylor Greene, Greene Organizations: CNN, Facebook, Maryland State Police, Coast Guard, Baltimore Mayor, Equity, FBI, Republicans, Netflix, HBO, Georgia Republican Locations: Baltimore, Covid, USA, Romania, United Kingdom, Florida, Texas, California, Georgia

☆ '3 Body Problem' episode 5 has a violent sequence that's almost gory enough to live up to 'Game of Thrones' on its own
▼ + stars: | 2024-03-26 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +5 min

Read preview"3 Body Problem" isn't as prone to killing people (or showing them nude) as "Game of Thrones" — but that doesn't mean it doesn't get its punches in. AdvertisementWhat happens in episode 5 of '3 Body Problem?' Advertisement'The most violent, horrific thing'The Judgment Day sequence, which is drawn from Liu's original book, is a masterclass in suspense. This kid definitely dies in "3 Body Problem," but luckily, we don't have to see it. NetflixFor an alien race that has previously operated in the shadows, the act matches the stark violence of the Judgment Day shutdown.

Persons: —, David Benioff, Weiss, Alexander Woo, Liu Cixin's, Minkie Spiro, Wade, Liam Cunningham, Clarence Shi, Benedict Wong, Raj Varma, Mike Evans, Jonathan Pryce, Auggie, isn't, Woo, Evans, Spiro, Pedro Pascal Organizations: Service, Business, intel, Netflix Locations: Panama, puzzlement

☆ Oil holds steady as Ukraine drone strikes, Red Sea crisis cause disruptions
▼ + stars: | 2024-03-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The Charles Eddie, a crude oil tanker owned by Euronav SA, a Belgian shipping company, sails northbound on the Suez Canal in Ismailia, Egypt. Crude oil futures held steady on Tuesday as the wars in Eastern Europe and the Middle East disrupt supplies. Ukraine has escalated its drone strikes against Russian oil refineries, knocking an estimated 900,000 barrels per day of capacity offline, according to Goldman Sachs. The disruptions' impact on crude prices will likely be mixed, with a decline in refinery demand bearish while a potential reduction in Russian oil exports bullish, Goldman noted. The Red Sea disruptions combined with Russian shipping frictions has given crude prices up to a $4 boost per barrel due to larger than expected draws from commercial stocks, according to Goldman.

Persons: Charles Eddie, Brent, Goldman Sachs, Goldman Organizations: Euronav SA, The West Texas Intermediate Locations: Belgian, Suez, Ismailia, Egypt, The, Eastern Europe, Ukraine

☆ Iran-backed Houthis attacked a Chinese ship with missiles after promising to leave them alone
▼ + stars: | 2024-03-25 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

The Houthis reportedly said they would avoid attacking Chinese ships off the coast of Yemen. AdvertisementThe Houthis said they would refrain from attacking Chinese ships off the coast of Yemen, but this past weekend, the Iran-backed rebels did exactly what they said they wouldn't. "The Houthis attacked the M/V Huang despite previously stating they would not attack Chinese vessels," CENTCOM said. The M/V Huang Pu is Chinese owned and operated, but it was sailing under the flag of Panama when it was attacked. "It was determined these UAVs presented an imminent threat to US, coalition, and merchant vessels in the region," CENTCOM said.

Persons: —, Huang Pu, CENTCOM, Huang, Michael Kurilla, Kurilla, Fawaz Salman Organizations: Service, US Central Command, AP, United Nations, Bloomberg, House Armed Services, REUTERS, Ambrey Locations: Yemen, Iran, Beijing, China, Russia, Chinese, Gaza, Sanaa, Gulf of Aden, Tehran, Ukraine, PRC, Aden, Red, Panama

☆ Surging gas prices just hit a significant milestone
▼ + stars: | 2024-03-18 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

The recent jump in gas prices is already causing headaches on the inflation front. The last time gas prices were up on a year-over-year basis was late December 2023, according to AAA. Gas prices surge in MichiganAnd the concerns about Russia’s energy facilities is on top of the Houthi attacks on vessels in the Red Sea. “People have this visceral reaction to higher gas prices and they look to fix blame,” said Kloza. Unless there’s a major hurricane that strikes US Gulf Coast refineries, Kloza does not expect gas prices to hit $4 a gallon this year.

Persons: It’s, ”, Andy Lipow, Tom Kloza, Vladimir Putin, Kloza, “ It’s, we’ve, ” Kloza, Biden Organizations: New, New York CNN, White House, Federal Reserve, Gas, “, Lipow Oil Associates, AAA, Oil Price Information Service, CNN, White, Drivers Locations: New York, Russia, Ukraine, Michigan, Red, OPEC, Saudi Arabia, United States, Kloza

☆ US-Bound Ship From Reliance's Sikka Port Hits BPCL Crude Import Facility, Sources Say
▼ + stars: | 2024-03-11 | by ( March | At A.M. | ) www.usnews.com time to read: +1 min

By Nidhi VermaNEW DELHI (Reuters) - Oil tanker Hafnia Seine bound for the United States from Sikka port in Western India hit Bharat Petroleum Corp's (BPCL) crude import facility in an accident late on Sunday, two sources with the knowledge of the matter said on Monday. "It appears to have hit the peripheral structure of the single point mooring (SPM)," one of the sources said, adding that no vessel is scheduled to discharge at its SPM currently. BPCL has a single point mooring at Sikka to import crude for its landlocked Bina refinery in central India. The sources declined to be identified because they were not authorised to speak publicly about the matter. (Reporting by Nidhi Verma; Writing by Mohi Narayan; Editing by Jamie Freed)

Persons: Nidhi Verma, BPCL, RIL, Mohi Narayan, Jamie Freed Organizations: Nidhi Verma NEW DELHI, Bharat Petroleum, Reliance Industries, SPM Locations: United States, Western India, Jamnagar, Gujarat, Bina, India

☆ Fatal Houthi rebel attack may be a ‘red line’ in Red Sea shipping crisis
▼ + stars: | 2024-03-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

The deadly strike marks a significant escalation of the Houthi attacks on ships in the Red Sea and and comes despite a US-led naval coalition to protect the crucial waterway. Fewer ships appear to be transiting through the Red Sea and adjoining Suez Canal after the latest attack, according to maritime risks analytics company Windward. According to Windward, the number of bulk carriers anchoring outside ports to the north and south of the Suez Canal surged 225% Wednesday compared with the previous day. Windward data shows that last month the number of bulk carriers in the Red Sea was already at its lowest level in two years. Just 30% of the usual shipping capacity — including container ships, bulk carriers, car carriers, and tankers carrying oil and liquefied natural gas — is still passing through the Red Sea and Suez Canal, according to Sand.

Persons: Ami Daniel, ”, Peter Sand, “, Hapag Lloyd —, Christine Lagarde, CMA CGM, Stephen Cotton, Cotton, David Ashmore, Reed Smith, John Stawpert, ” Maisie Linford Organizations: London CNN, Liberian, ” Windward, CNN, Maersk, MSC, European Central Bank, Drewry, CMA, International Transport Workers ’ Federation, International Chamber of Shipping Locations: Red Sea, Iran, Suez, Africa, Windward, Red, Norway, Sand, “, London, Good, Gulf, Aden and Red, Aden

☆ Oil fell slightly as China growth worries clash with output cuts
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: +3 min

Oil prices fell slightly on Wednesday as concerns about demand growth in China, the world's biggest crude importer, clashed with signs of supply tightness amid output cuts by major producers. Oil prices fell slightly on Wednesday as concerns about demand growth in China, the world's biggest crude importer, clashed with signs of supply tightness amid output cuts by major producers. The 'risk off' nature of recent trading was underscored by the fall in Treasury yields, which also pressured oil prices. "Crude oil futures edged lower amid the risk-off tone across markets. If the EIA reports a crude storage build, it will be the sixth straight week of rising oil stocks in the country.

Persons: Daniel Hynes Organizations: Brent, U.S, West Texas, Treasury, of, Petroleum, ANZ, American Petroleum Institute, U.S . Energy, Administration Locations: China, OPEC, Yemen, Saudi Arabia, Asia

☆ Oil extends losses in early Asian trade
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: +2 min

A view of decaying FSO Safer oil tanker anchored 60 kilometers (37 miles) north of the port of Hudaydah, Yemen on July 15, 2023. Oil prices fell in early Asian trading on Monday, extending losses from the previous session after oil ended the week 2-3% lower amid market concerns that higher-than-expected inflation could delay U.S. interest rate cuts. Brent crude futures fell 34 cents to $81.28 a barrel by 0121 GMT, while U.S. West Texas Intermediate crude futures (WTI) declined 33 cents to $76.16 a barrel. "Crude oil prices declined for want of fresh drivers," ANZ analysts wrote in a note. While Iran-aligned Houthis have continued their attacks on shipping in the Red Sea, the Israel-Hamas war has not significantly constrained oil supply.

Persons: Jake Sullivan, Benjamin Netanyahu, Brent, WTI Organizations: Brent, U.S, West Texas, ANZ, White House, CNN, Sunday, Israeli, U.S . Energy, Administration Locations: Hudaydah, Yemen, China, Iran, Red, Israel, United States, Egypt, Qatar, Paris

☆ Battle for the Red Sea expands with U.S. strikes, EU stepping up its efforts against Houthis
▼ + stars: | 2024-02-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

Defense officials tell CNBC as of February 21, there have been at least 59 attacks on commercial shipping interests in the Red Sea. But the EU said the Red Sea moves reflect the need for a stronger European presence in protecting ships from Houthi attacks. Trade leaders have urged more countries to join the military effort in the Red Sea. A war of misinformation in the Red Sea crisis also continues. On February 2 in Brussels, Borrell informed Yemeni Prime Minister Bin Mubarak about the plans to launch a new EU maritime operation in the Red Sea and about its mandate.

Persons: Mason, Torm Thor, Good Hope, Peter Stano, Josep Borrell, Mark Montgomery, Sen, John McCain, Steven Lamar, Hussein, Azzi, Stano, Houthis, Borrell, Bin Mubarak, Rashad Al, Carl Bentzel, Bentzel, Tesla Organizations: European Commission, United States Central Command, Command, U.S, CNBC, European Union's Naval Force, EU, French Navy, Prosperity, Prosperity Guardian, EU Commission, Navy, Foundation, Defense of Democracies, Senate Armed, NATO, U.S . Central Command, UK, Prosperity Guardian . Trade, American Apparel and Footwear Association, Central Command, Yemeni, Presidential, Council, UN, Federal Maritime, Foreign Shipping, State Department, FMC, Walmart Locations: Aden, Iranian, Yemen, Red, Libyan Coast, Good, Somalia, European, EU, U.S, Australia, Bahrain, Canada, Denmark, Netherlands, New Zealand, Houthi, Europe, Suez, Belize, Brussels, Yemeni, United States, Egypt, Germany, Israel

☆ U.S. and British strikes on Houthi sites in Yemen answer militants’ surge in Red Sea attacks on ships
▼ + stars: | 2024-02-24 | by ( ) www.cnbc.com time to read: +8 min

The U.S. F/A-18 fighter jets launched from the USS Dwight D. Eisenhower aircraft carrier, which is currently in the Red Sea, officials said. President Joe Biden and other senior leaders have repeatedly warned that the U.S. won't tolerate the Houthi attacks against commercial shipping. During normal operations, about 400 commercial vessels transit the southern Red Sea at any given time. The Rubymar, a British-registered, Lebanese-operated cargo vessel, was attacked while sailing through the Bab el-Mandeb Strait that connects the Red Sea and the Gulf of Aden. The Associated Press, relying on satellite images from Planet Labs PBC of the stricken vessel, reported Tuesday that the vessel was leaking oil in the Red Sea.

Persons: Dwight D, Lloyd Austin, Grant Shapps, Shapps, Joe Biden, haven't, We've, Sabrina Singh, we've, Mason, Abdul Malik al, Hope Organizations: US Coast Guard, US Central Command, U.S, Eisenhower, Defense, Yemeni Armed Forces, RAF, Islander, Hamas, Houthi, Aden , U.S . Central Command, Central Command, Khorfakkan, United, Command, Associated Press, Planet Labs PBC Locations: Iran, Yemen, Tampa , Florida, United States, U.S, Gulf of Aden, British, Red, Britain, Australia, Bahrain, Canada, Denmark, Netherlands, New Zealand, Gaza, Aden , U.S, Asia, Europe, Africa, Suez, Mandeb, Gulf, Aden, Palau, Belize, Lebanese, Bulgaria, United Arab Emirates

☆ Gold at $3,000 and oil at $100 by 2025? Citi analysts don't rule it out
▼ + stars: | 2024-02-20 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

That could double central bank's gold purchases, challenging jewelry consumption as the largest driver of gold demand, Doshi elaborated. China and Russian central banks are leading gold purchases, with India, Turkey, and Brazil, also increasing bullion buying. The world's central banks have sustained two successive years of more than 1,000 tons of net gold purchases, the World Gold Council reported in January. Another wildcard scenario highlighted in Citi's report was for oil prices to hit triple digits again. Stock Chart Icon Stock chart icon Oil prices in the past one year

Persons: Doshi, Stagflation Organizations: Citi, CNBC, Central, U.S ., Gold, U.S . Federal Reserves, Co, Bloomberg, Getty Locations: Citi's North America, China, Russian, India, Turkey, Brazil, U.S, Bangkok, Thailand, Israel, Yemen, Iraq, OPEC

☆ U.S. crude hovers near three-month high as Middle East conflict rages on
▼ + stars: | 2024-02-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil futures hovered near three-month highs Tuesday as the conflict in the Middle East rages on. U.S. crude gained 3% last week to settle Friday at its highest price, $79.19 a barrel, since Nov. 6. The global benchmark rose 1.5% for the week to settle at its highest price since Jan. 26. Houthi militants on Monday attacked another cargo ship in the Bab el-Mandeb strait, forcing the crew to abandon the vessel. The attack highlights the ongoing threats to commercial vessels in the Red Sea, which has forced shipping giants such as Maersk to divert cargo around the Cape of Good Hope in Africa.

Persons: Brent, Tamas Varga, PVM Organizations: The West Texas Intermediate, International Energy Agency, Monday Locations: Suez, Ismailia, Egypt, East, Israel, Lebanon, Gaza, Rafah, U.S, Iran, Red, Hope, Africa, Aden

☆ Oil down in thin trade as U.S. gears up for Presidents' Day
▼ + stars: | 2024-02-19 | by ( ) www.cnbc.com time to read: +2 min

A pump jack at an oil lot connected to the Petroleos del Peru SA Talara refinery in Piura, Peru, on Wednesday, Dec. 13, 2023. Oil prices edged down on Monday morning as markets digested comments from U.S. Federal Reserve officials pointing to a more patient stance regarding potential interest rate cuts, in thin early trade on what is a public holiday in the United States. U.S. West Texas Intermediate crude was 35 cents, or 0.44%, lower at $78.84 at 0138 GMT. Markets are yet to see the direction of demand from China after that country returns from a week-long Lunar New Year holiday, while Presidents' Day in the United States is set to keep trade relatively muted. Higher rates keep up the cost of buying oil, providing for a bearish market trend.

Persons: Brent, Alexei Navalny, Vladimir Putin's Organizations: del, del Peru SA Talara, U.S . Federal, . West Texas, Yemen's, of, Petroleum, ANZ Research, International Energy Agency, ANZ, United Nations Security Council Locations: del Peru, Piura, Peru, U.S, United States, China, Gaza, Yemen's Iran, India, Algerian, Israel, Europe, Russia, Ukrainian, Avdiivka, Moscow

☆ The Kremlin has never been richer – thanks to a US strategic partner
▼ + stars: | 2024-02-19 | by ( Nick Paton Walsh | Florence Davey-Attlee | ) edition.cnn.com time to read: +9 min

It amounts to US strategic partner New Delhi stepping in to replace crude purchases by Western buyers, reduced by sanctions over Russia’s invasion of Ukraine, the analysis said. The United States led a coalition of countries in late 2022 that agreed to a “price cap,” undertaking not to buy Russian crude above $60 a barrel. Those nations also forbade their shipping companies and insurance firms – key players in global shipping – from facilitating the trade of Russian crude above that price. “The price cap was the real trigger for the creation of the shadow fleet,” said Viktor Katona, head of crude oil analysis at trade research firm Kpler. It will be $150.”India’s complex role in global oil trade is also reflected in the fate of the oil products Russian crude is turned into.

Persons: they’re, ”, David Tannenbaum, Viktor Katona, Tannenbaum, ” Ami Daniel, Vladimir Putin, Howard Shatz, Singh Puri, Rosneft, Daniel, I’m Organizations: CNN, Centre for Research, Energy, Clean, Star, Pole Star, US Treasury, United, Pole Star Global, European Union, RAND, India’s, Petroleum, Natural Gas, CNBC, Nayara, Kremlin Locations: Russia, Ukraine, India, United States, Delhi, Moscow, Laconian Gulf, Greece, Suez, Russian, Kyiv, Vadinar

☆ Yemen's Houthis say they targeted oil tanker Pollux
▼ + stars: | 2024-02-17 | by ( ) www.cnbc.com time to read: 1 min

Yemen's Iran-aligned Houthis said on Saturday that they had fired missiles at oil tanker Pollux, which U.S. officials said the previous day had been hit by a missile. The U.S. State Department said on Friday that the Pollux, a Panamanian-flagged tanker carrying crude oil bound for India, was hit by a missile on its port side. "The naval forces of the Yemeni Armed Forces carried out a targeting operation against a British oil ship (Pollux) in the Red Sea with a large number of appropriate naval missiles, and the strikes were accurate and direct", the Houthis' military spokesperson, Yahya Sarea, said in a statement. The Houthis have launched repeated drone and missile attacks against international commercial shipping in the Red Sea and the Bab al-Mandab Strait since mid-November, saying they are acting in solidarity with Palestinians as Israel wages war on Hamas.

Persons: Houthis, Yahya Sarea Organizations: U.S . State Department, Yemeni Armed Forces Locations: Iran, Panamanian, India, Mandab, Israel

Maxar Technologies Visual Investigations The $2.8 Billion Hole in U.S. Sanctions on Iran A Times investigation reveals how lax government oversight allowed shadowy oil tankers, covered by American insurance, to fund Iran’s regime. The American Club is one of only 12 major insurers of its kind, and the only one based in the United States. By then, the tankers had transported at least $2.8 billion in crude oil, based on the lowest reported prices of Iranian oil in 2023. The Treasury office has publicly enforced sanctions on the American Club only once in the past 20 years. Ultimately, the office said the American Club did “not appear to have been willful or reckless” and the case was settled.

Persons: Biden, ”, penna gabrielle toyomi, penna selene gabrielle, gabrielle, selene, lisa marianne selene, Samir Madani, Maggie Hassan, Daniel Tadros, “, Mr, Tadros, Shipowners, ” Mr, Madani of TankerTrackers.com, David Tannenbaum Organizations: Maxar, Maxar Technologies, Sanctions, U.S, White, New York Times, Times, Treasury Department, American Club, Treasury, cathay kirin, Copernicus, Planet Labs, Star, American, The Times, Revolutionary Guards Corps, Anadolu Agency, Getty, Club’s, Hamas, Bloomberg, United Against Nuclear, Nuclear, Glory, United, National Iranian Tanker, Labs, Copernicus Sentinel, Club, International Maritime Organization, AIS, Spire Locations: Gulf of Oman, American, U.S, Iran, New York, New Hampshire, United States, Hong Kong, Kharg, Kpler, China, Israel, Yemen, United Against Nuclear Iran, Nuclear Iran, United Arab Emirates, Asaluyeh, Dubai, of Oman, Persian, Oman, Cuba, Sudan, MarineTraffic, SynMax, TankerTrackers.com

☆ How Ukraine seized the upper hand against Russia in the battle for the Black Sea
▼ + stars: | 2024-02-14 | by ( Tim Lister | Victoria Butenko | ) edition.cnn.com time to read: +9 min

Ukraine has virtually no navy of its own, but technological innovation, audacity and Russian incompetence have given it the upper hand in much of the Black Sea. Rather than fold, the Ukrainians declared a unilateral “Black Sea Humanitarian Corridor” for merchant shipping and stepped up its use of maritime drones and missile attacks against Russia’s Black Sea fleet. One-third of the Black Sea fleet has been disabled or destroyed, and the remaining ships rarely venture into the western half of the sea. In August, Russia withdrew some of the Black Sea fleet from its headquarters in Sevastopol to relatively safer ports on the Russian coast. Russia is unlikely to be able to tilt the balance in the Black Sea back in its favor.

Persons: Caesar Kunikov, Volodymyr Zelensky, ”, Yoruk Isik, Russia’s, Zelensky, Dmytro Pletenchuk, ” Pletenchuk, ’ Organizations: CNN, Ukraine’s Defense Intelligence, Reuters, Agriculture, UN, Initiative, NATO, Economy Ministry, Black Sea Initiative, Ukrainian, Russia, Maritime Autonomous Guard, Defense Intelligence, Drones, Both Defense Intelligence, Security Service, ’ AK, Black, Russian, Odesa, Montreux Convention – Locations: Crimea, Russia, Ukraine, Russian, Donetsk, Kharkiv, Romania, Bulgaria, Ukrainian, Sevastopol, Washington, Novorossiysk, Sochi, ”, MAGURA, Krasnodar, Kerch, France, Snake, Odesa, Turkey, Black, Montreux, Moscow

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