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☆ Oil set for first weekly drop in three as Mideast situation holds
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: +2 min

In an aerial view, oil storage tanks are shown at the Enterprise Sealy Station on August 28, 2023 in Sealy, Texas. Oil prices rose on Friday, regaining ground after tumbling more than $2 a barrel in the previous session as concerns of a wider Middle East conflict eased while the United States, the world's biggest oil consumer, showed signs of weakening demand. Both contracts are on track to post their first weekly drop in three weeks as the geopolitical premium built on fears that the Israel-Gaza conflict could involve more countries in the Middle East and disrupt oil supply has eased. Israeli forces carried out their biggest Gaza ground attack in their 20-day-old war with Hamas overnight, angering the Arab world. Prices could jump 20% in the less likely scenario of an interruption of trade through the Strait of Hormuz where 17% of global oil production transit, they said in a note.

Persons: Kelvin Yew, Benjamin Netanyahu, Helima Croft, Goldman Sachs, Brent Organizations: Enterprise, Brent, West Texas, Ocean, Investments, RBC Capital Locations: Sealy , Texas, United States, Israel, Gaza, Hormuz, Saudi Arabia, Russia

SINGAPORE, Oct 27 (Reuters) - Oil prices rose by over $1 on Friday as reports that the U.S military struck Iranian targets in Syria raised concerns of a widening of the Israel-Hamas conflict that could impact supply from the key Middle East producing region. Though the strike did not directly impact supply, it increases fears that the conflict in the Gaza Strip between Israel, backed by the U.S., and Hamas may spread and disrupt supply from major crude producer Iran, which backs Hamas. A wider war could also impact shipments from Saudi Arabia, the world's largest oil exporter, and other large producers in the Gulf. Both Brent and WTI are on track to post their first weekly drop in three weeks as the geopolitical premium built on these fears has ebbed as there has been no disruption of oil supply outside of the immediate region of the fighting. Israeli forces carried out their biggest Gaza ground attack in their 20-day-old war with Hamas overnight, angering the Arab world.

Persons: Brent, WTI, Kelvin Yew, Benjamin Netanyahu, Helima Croft, Goldman Sachs, Florence Tan, Sam Holmes, Christian Organizations: U.S, Brent, U.S . West Texas Intermediate, Islamic Revolutionary Guard Corps, Pentagon, Ocean, Investments, RBC Capital, Thomson Locations: SINGAPORE, Syria, Israel, U.S, Iraq, Gaza, Iran, Saudi Arabia, United States, Hormuz, Russia

☆ Economists fear major disruption if the Israel-Hamas conflict is not contained
▼ + stars: | 2023-10-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

ReutersAny possible escalation of the Israel-Hamas war poses a major risk to the global economy, driving up energy prices and disrupting key trade routes, economists have warned. Israel's subsequent bombardment of Gaza in a bid to eliminate Hamas has increased the risk of a spillover to the wider Middle East region. The events in recent days have deepened the greatest fear among economists, that the conflict engulfs the region and begins to pose a long-term threat to global energy and trade infrastructure. Back then oil prices gained 30% in a matter of two weeks before settling at around 15% above pre-war levels," said J. Safra Sarasin Equity Strategist Wolf von Rotberg. "You choke off those points and you create major disruption not just to oil prices, but the whole supply chain of the world for energy and other goods as well."

Persons: Israel's, Isaac Herzog, Pat Thaker, Thaker, Brent, J . Safra Sarasin, J, Wolf von Rotberg, Elijah Oliveros, Rosen, Oliveros, Paul Gruenwald, Gruenwald Organizations: Hamas, Reuters, Palestinian, Lebanese, Hezbollah, Economist Intelligence Unit, CNBC, Fed, ECB, West Texas, J ., Safra Sarasin Equity Locations: Israel, Palestinian, Gaza, Lebanon, East, Africa, Saudi, Ukraine, Europe, Iran, Tehran, Saudi Arabia, Suez, Persian, Hormuz, U.S, Chile, Turkey, Thailand, Philippines, India, Egypt

☆ How oil could spike to $150, even $250 if Israel-Hamas war escalates, according to Bank of America
▼ + stars: | 2023-10-25 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The Wall Street side of the Charlotte-based bank laid out scenarios where oil could hit $150 per barrel, or even $250, depending on how the war shakes out. The international oil benchmark Brent crude held around $88 Wednesday after trading closer to $94 late last week. Bank of America sees any escalation involving Iran triggering a jump to $120 to $130 per barrel. If a physical supply disruption occurs because of attacks on energy infrastructure, oil could surge above $130 a barrel, Bank of America said. If the strait is closed, oil prices can spike above $250 per barrel, the bank said.

Persons: BofA Organizations: Hamas, Bank of America, Brent, . West Texas, West Texas, U.S, Hezbollah, bbl Locations: Israel, Charlotte, Iran, Palestinian, Yemen, Iraq, Lebanon, Tehran, Syria, Lebanese, Hormuz

☆ On the Agenda for Australia’s State Visit: China, Trade and a U.S. Marine Band
▼ + stars: | 2023-10-24 | by ( Katie Rogers | More About Katie Rogers | ) www.nytimes.com time to read: +5 min

This week, Mr. Biden is steering American involvement in two overseas wars and monitoring the continuing calamity of a speakerless House of Representatives, and there is another government shutdown crisis looming next month. John F. Kirby, a White House spokesman, played down the idea that global crises could distract Mr. Biden from his visitor, or perhaps even keep him waiting. During Mr. Biden and Mr. Albanese’s time together, which includes a news conference scheduled for Wednesday afternoon, they are expected to emphasize their shared interests. Mr. Biden’s advisers say the administration is supportive of the meeting between Mr. Albanese and Mr. Xi. Mr. Biden and Mr. Albanese are also likely to touch on the dysfunction in Congress.

Persons: Biden, Anthony Albanese, John F, Kirby, Mr, “, ” Mr, ”, Jill Biden, ” Dr, Bruce Jones, Albanese’s, Donald J, Trump, Scott Morrison, Morrison, Albanese, Xi Jinping, Jones, Xi Organizations: Representatives, U.S . Marine, Army and Air Force, China, Center for East Asia Policy, Brookings Institution, East Locations: Australia, United States, Washington, China, Georgia, Britain, Papua New Guinea, Israel, ”, American, Hormuz

☆ Analysis: Middle East throws central banks yet more unknowns
▼ + stars: | 2023-10-20 | by ( Mark John | ) www.reuters.com time to read: +5 min

Now, to complicate matters for a professional caste which prides itself on being data-driven, the Middle East is throwing a new set of real but unquantifiable risks into their equations. Unless the picture changes dramatically in coming days, the European Central Bank, U.S. Federal Reserve, Bank of England and Bank of Japan are already expected to keep their policy rates on hold in meetings over the next two weeks. ECB rate-setter Yannis Stournaras, the governor of the Greek central bank, argued that Europe had broadly managed to absorb the effects of rising energy costs triggered by the Ukraine war and hoped it could do the same if further shocks emerged. For now, the conflict remains largely confined to Israel and Gaza, something S&P Global Market Intelligence said in a study this week was already "muddying the waters" for central banks. As the Fed's Powell put it: "Our institutional role at the Federal Reserve is to monitor these developments for their economic implications, which remain highly uncertain".

Persons: Jerome Powell, David Westin, Brendan McDermid, Powell, Huw Pill, Yannis Stournaras, Tetsuya Hiroshima, Fed's Powell, Dan Burns, Balazs Koranyi, Francesco Canepa, Maria Martinez, Leika, Kevin Yao, David Milliken, Tomasz Janowski Organizations: Federal, Anchor, Bloomberg, Street, Economic, of New, REUTERS, Bank of England, International Monetary Fund, European Central Bank, U.S, Federal Reserve, Bank of Japan, Fed, ECB, Reuters Graphics, Reuters, Tokai, Toyota Motor Corp, P Global Market Intelligence, Thomson Locations: of New York, New York City, U.S, Israel, Ukraine, Iran, Hormuz, Europe, United States, Japan, Gaza, Washington, Frankfurt, Berlin, Tokyo, Beijing, London

Fluctuations since the attack pushed oil prices as high as $96. Until something like that happens, “the oil market is going to be like everyone else, monitoring the events in the Middle East,” Lipow said. One reason 1970s-style gas lines are unlikely: U.S. oil production is at an all-time high. Weekly domestic oil production has doubled from the first week in October 2012 to now. Lawmakers from both parties have urged Biden to block Iranian oil sales, seeking to dry up one of the regime’s key sources of funding.

Persons: ” Fatih Birol, ”, Andrew Lipow, ” Lipow, Mike Sommers, Sommers, “ America’s, “, Joe Biden's, Israel, Biden, Sofia Guidi Di Sante, Wyoming Sen, John Barrasso, “ Joe, Barrasso, ____ McHugh, Choe Organizations: WASHINGTON, International Energy Agency, ”, Associated Press, Brent, Lipow Oil Associates, U.S . Energy Information Administration, Energy Department, American Petroleum Institute, Hudson Institute, Commerzbank, Oil, Rystad Energy, Republican, Senate Energy, Natural Resources Committee, Democratic, Keystone XL, Strategic Petroleum Reserve, The Energy Department, The Treasury Department, Treasury Locations: East, Israel, Saudi Arabia, Russia, China, Paris, Gaza, Iran, Houston, Hormuz, U.S, Europe, Washington, OPEC, Lebanon, Venezuela, The U.S, Wyoming, America, Frankfurt, Germany, New York

☆ Morning Bid: China data beat overshadowed by Mideast foreboding
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Lisi Niesner/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Wayne Cole. The latest batch of economic data from China surprised by beating forecasts, but was unfortunately overshadowed by fears of a widening conflict in the Middle East following the Gaza hospital blast. Perhaps more importantly retail sales and industrial output for September topped estimates, which might mean Beijing's stimulus steps were finally bearing fruit after months of disappointment. The implications for inflation were another headache for bonds, which were still smarting from Tuesday's red-hot U.S. retail sales report. JPMorgan responded by ramping up its forecast for U.S. third quarter GDP growth to an annualised 4.3%, implying nominal growth of more than 7%.

Persons: Lisi Niesner, Wayne Cole, Joe Biden's, Brent, ramping, Fed's Waller, Williams, Bowman, Harker, Jacqueline Wong Organizations: REUTERS, JPMorgan, U.S, Bank of Japan, Netflix, Norges Bank, EU, Fed, Thomson Locations: Israeli, Lebanon, Israel, Wayne, China, Gaza, millstone, Iran, Hormuz, Asia, Cook

☆ Why Fed officials aren’t addressing the Israel-Hamas war the way they did with Ukraine
▼ + stars: | 2023-10-17 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

Emma Jones, a spokesperson for the Fed, declined to comment on why many Fed officials, who in the past moved swiftly to acknowledge the war in Ukraine, weren’t addressing the war in Israel. There are some Fed officials who are starting to talk about it, though — albeit only when asked questions. Fed officials see little immediate threat to the US economyAtlanta Fed President Raphael Bostic was the first to speak about the war, at the American Bankers Association’s annual conference last Tuesday. That’s probably why more Fed officials were quicker to acknowledge the war in Ukraine, Dorn said. “I don’t think the Fed wants to look like they’re taking sides,” Dorn added — but said Fed officials could easily talk about it without looking partial.

Persons: Chris Waller, ” Waller, Michael Barr, Philip Jefferson, Michelle Bowman, Lorie Logan, Emma Jones, James Dorn, “, ”, Raphael Bostic, Bostic, Neel Kashkari didn’t, aren't, they're, Al Drago, Susan Collins, ” Collins, Patrick Harker, we’ve, Harker, JPMorgan Chase, Jamie Dimon, ” Dorn, Dorn, There’s, Gregory Daco, Daco Organizations: New, New York CNN, Federal Reserve, ”, Dallas Fed, Fed, Cato Institute, CNN, Atlanta Fed, American Bankers, Minot State University, Minneapolis, Federal, Bloomberg, Getty, ” Boston, Wellesley College, Philadelphia Fed, Delaware State Chamber of Commerce, JPMorgan, Rystad Energy Locations: New York, Ukraine, Russia, Israel, Waller’s, North Dakota, Delaware, Iran, Lebanon, Syria, United States, That’s, Gaza, Hormuz, EY

☆ A bigger war in Israel would send oil prices skyrocketing and hurt the economy's chances of avoiding a recession
▼ + stars: | 2023-10-16 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

The impact on oil prices would be enormous with one prediction of $150 per barrel. A surge in oil prices could undo the fight against inflation and cause prices to soar again. International Monetary Fund managing director Kristalina Georgieva expressed concern on Thursday over how global oil markets would be impacted by the war. If that were to happen, they predict that oil prices would skyrocket more than 70% to $150 per barrel from just under $90 we have now. An estimated 20-30% of global oil supply passes through the Strait of Hormuz, which is controlled by Iran.

Persons: —, Kristalina Georgieva, Steven Mnuchin, That's, Mnuchin, Mustafa Hassona, there's, Jerome Powell, Liu Jie Organizations: Service, Hamas, Monetary Fund, Bloomberg Economics, Bloomberg, US, Fox Business, Anadolu Agency, Getty, Biden, US Strategic Petroleum Reserve, Strategic Petroleum Reserve Locations: Israel, Iran, Hormuz, Iraq, Kuwait, Abu Nasr, Gaza City, Ukraine, Washington ,, Xinhua

CNN —A US Marine rapid response force is headed to the waters off the coast of Israel and the Pentagon is preparing American troops for a potential deployment to the country, escalating the US’ show of force in the region as it works to prevent the conflict between Israel and Hamas from widening any further. A defense official familiar with the planning said the rapid response force, consisting of 2,000 Marines and sailors, is being sent. That could be particularly valuable if Israel launches a ground invasion of Gaza, which could be complicated and bloody, experts have warned. Officials would not specify where exactly the Marine unit will now go, other than to say it is headed toward Israel. The Wall Street Journal was first to report about the potential deployment of troops to Israel.

Persons: Defense Lloyd Austin, Biden, Capt, Angelica White, Sabrina Singh, “, ” Organizations: CNN, Pentagon, Hezbollah, Defense, Israel, USS Ford, Air Force, Troops, 26th Marine Expeditionary Unit, Marine Corps Locations: Israel, Iran, Lebanese, Gaza, Middle East, Kuwait, “, Red, Bataan, Gulf of Oman, of Oman, Hormuz

[1/3] A general view shows Haifa Port, which is to be sold to India's Adani Ports and local partner Gadot in Haifa, Israel July 24, 2022. Ashdod port has imposed restrictions on the transport of hazardous materials which has meant slower transits. Around 13 ships - comprising cargo, container and dry bulk vessels - were currently moored inside Ashdod port, according to MarineTraffic data. "The Suez Canal, a critical waterway for various commercial vessels, including container ships, may face disruptions," Container xChange CEO Christian Roeloffs said. The Marshall Islands registry, one of the world's top shipping flags, last week raised the security level for Israel's ports and its territorial waters to their highest.

Persons: Gadot, Ilan Rosenberg, Christian Roeloffs, Jonathan Saul, Ari Rabinovitch, David Evans, Louise Heavens Organizations: Haifa Port, Adani, REUTERS, Rights, Israel's, Port, MSC, Ministry, Marshall, Thomson Locations: Haifa, Israel, Gaza, Ashkelon, Ashdod, Port, Port of Haifa, ”, Israel's, Suez, Hormuz, United States, Arabian, Strait, Gulf of Oman and Red, Jerusalem

Unlike Russia, one of the world's top oil and gas producers, Israel has very modest energy production. But there is a risk the war could spread to major energy producers in the Middle East and affect oil and gas flows. Second, a deal being brokered by Washington to normalise relations between Saudi Arabia and Israel, which could see the kingdom increase oil output, could be derailed. Saudi Arabia told the White House it is willing to boost oil production early next year to help secure the deal, the Wall Street Journal reported last week. Russian Deputy Prime Minister Alexander Novak added on Thursday that current oil prices factored in the conflict and reflected the market's belief that risks posed by the clashes were not that high.

Persons: Dado Ruvic, Brent, David Goldwyn, Rob Thummel, Janet Yellen, Iranian Oil Minister Javad Owji, Joe Biden, Helima Croft, Biden, Ben Cahill, Prince Abdulaziz, Alexander Novak, Vladimir Putin, Natalie Grover, Ahmad Ghaddar, Alex Lawler, Laura Sanicola, Kirsten Donovan, Cynthia Osterman Organizations: REUTERS, Hamas, U.S . State Department, Tortoise, Iran, U.S, Treasury, Iranian Oil Minister, RBC Capital Markets, Macquarie, SAUDI, Israel, Wall Street, Washington, Strategic, International Studies, Saudi Arabia's Energy, CNBC, OPEC, Organization of, Petroleum, Thomson Locations: Israel, Ukraine, Russia, U.S, Iran, Hormuz, Washington, Saudi Arabia, Strait, Riyadh, Moscow, United States, Tehran, Washington . Saudi Arabia, Saudi, OPEC, London, New York

☆ 'Cheap' and 'compelling': Pros name the oil stocks to buy — giving one over 120% upside
▼ + stars: | 2023-10-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Oil prices jumped 4% on Monday during Asia hours , in the wake of the attack. Young said names in international and offshore oilfield services should pick up as oil prices rebound. "It just executed a large set of acquisitions and is well positioned for higher oil prices and more interest in the sector." Generally, Young said oil and gas stocks are "particularly compelling." Neuhauser said small-cap energy stocks that have leveraged to increased oil prices are the ones to own right now.

Persons: Josh Young, Young, Saturday . Young, Antony Blinken, Biden, CNBC's, David Neuhauser, Stocks, Neuhauser, Scott Nations Organizations: Bison, Hamas, Saturday ., United Nations, Reuters, U.S . Energy Information Administration, Livermore Partners, CNBC Pro, Nasdaq, Weatherford, Vital Energy, Exxon, Global Energy, Vista Energy, Jadestone, Brent, Scott, Chevron, ConocoPhillips Locations: Israel, Asia, Iran, U.S, Tehran, Strait, Hormuz

☆ Oil prices jump as Middle East turmoil roils markets
▼ + stars: | 2023-10-09 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsLONDON, Oct 9 (Reuters) - Oil prices surged more than 3% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears of a wider conflict in the Middle East. While the underlying supply-demand balance is unaffected, said Tamas Varga of oil broker PVM, "any rise in tension in the Middle East usually leads to an increase in oil prices and it is no different this time around". "If the conflict envelopes Iran... up to 3% of global oil supply is at risk. And if a wider conflict eventuates that ends up impacting transit through the Strait of Hormuz, around 20% of global oil supply could be held hostage," energy analyst Saul Kavonic told Reuters.

Persons: Agustin Marcarian, Brent, WTI, Tamas Varga, Saul Kavonic, Natalie Grover, Andrew Hayley, Emily Chow, Miral Fahmy, Jason Neely Organizations: REUTERS, U.S, West Texas, Saturday, Israel, White, Citi, Reuters, International Energy Agency, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Israel, Palestinian, Gaza, Saudi Arabia, Washington, Riyadh, Saudi, Moscow, Iran, Hormuz, London, Beijing, Singapore

☆ Oil price spikes on Israel war. Here’s what a wider conflict might mean
▼ + stars: | 2023-10-09 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —Global oil prices climbed 4% Monday over fears that the unprecedented weekend attack on Israel by Hamas could escalate into a regional conflict embroiling oil-producing nations. The [attack] itself has no effect on the oil market directly,” Homayoun Falakshahi, a senior oil analyst at data provider Kpler, told CNN. Tighter oil sanctions? Should Washington decide to tighten the sanctions screw once more, “current flows to the global oil market might be compromised,” he added. “That would be a complete game-changer for the oil market,” Falakshahi said.

Persons: Brent, Israel, ” Homayoun, ”, Jon, “, Benjamin Netanyahu, Oded, Donald Trump, Barack Obama, Simone Tagliapietra, Bruegel, —, Tehran —, ” Falakshahi, “ it’s, Tobias Borck, Borck, Artemis Moshtaghian Organizations: London CNN —, Global, CNN, National, United Nations, Hamas, Washington, United Arab, Royal United Services Institute for Defence, Security Locations: Israel, Saudi Arabia, Russia, Iran, Washington, United States, Palestine, Gaza, Tel Aviv, Brussels, Ukraine, Hong Kong, China, Oman, United Arab Emirates, Gulf, Hormuz, Lebanese, Tehran, Shebaa Farms, Lebanon, “

☆ Morning Bid: Oil jumps as Middle East strife shakes markets
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +3 min

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Wayne Cole. With one war already raging in Europe, a new conflict in the Middle East was bound to rattle the markets. If the U.S. tightens enforcement of sanctions, CBA analysts estimate around 0.5-1.0% of world oil supplies could be affected, which would push Brent atop $100 a barrel. A sustained rise in oil prices would be an unwelcome blow to inflation but also a tax on consumers, so the implication for interest rates isn't straightforward.

Persons: Agustin Marcarian, Wayne Cole, Brent, Luis de Guindos, Pablo Hernández, Cos, Andrea Enria, Fed's Logan, Edmund Klamann Organizations: REUTERS, Oil, Brent, Treasury, Nikkei, Hamas, Street Journal, United Nations, JPMorgan, Citi, Wells, Bank of Spain, Jefferson, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Wayne, Israel, Europe, U.S, Asia, Tokyo, Iran, Tehran, Washington, Strait, Hormuz, Wells Fargo, Germany, Barr

☆ The US Navy turned the tables on Iran, sending drones that look like speedboats to spy on its warships and troublesome gunboats
▼ + stars: | 2023-10-06 | by ( Jake Epstein | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. US Navy photoAn undated still image released on Oct. 6 from video taken by an Arabian Fox MAST-13 unmanned surface vessel of an Iranian Navy AB-212 helicopter in the Strait of Hormuz. AdvertisementAdvertisementOther images from the September operation that were released by the US Navy on Friday showed an IRGCN warship and an Iranian Navy frigate. An L3Harris Arabian Fox MAST-13 unmanned surface vessel sails in the Arabian Gulf, Jan. 22, during exercise Neon Defender 23. US Navy photoA MARTAC T-38 Devil Ray unmanned surface vessel operates in the Gulf of Aqaba, Mar.

Persons: —, NAVCENT, Joe Baggett, Ray USV, Brad Cooper, Cooper, Arleigh Burke, Alexus, Grynkewich, they'll Organizations: US Navy, Navy, Service, Washington, Islamic Revolutionary Guard Corps Navy, US Naval Forces Central Command, Iranian, Fleet, Iranian Navy, Arabian Fox, US Marines, Coast Guard, Pentagon, Bataan, Ready, 26th Marine Expeditionary Unit, US Air Forces Central Command, Defense Writers Locations: Tehran, Hormuz, Persian, Gulf of Oman, Iran, Arabian, Panama, Strait, Iranian Navy, Iranian, NAVCENT, Gulf, Aqaba, Mar

Loved ones, some holding small American flags, enveloped them in hugs and exchanged greetings in English and Farsi, the main language of Iran. Iranian Foreign Ministry spokesman Nasser Kanaani said two of the Iranian prisoners will stay in the U.S. Meanwhile, Nour News, a website believed to be close to Iran’s security apparatus, said two of the Iranian prisoners were in Doha for the swap. In his statement, Biden demanded more information on what happened to Bob Levinson, an American who went missing years ago. The Biden administration also announced fresh sanctions on former Iranian President Mahmoud Ahmadinejad and the Iranian Ministry of Intelligence.

Persons: Joe Biden, Siamak Namazi, ”, Babak, Baquer, “, Biden, Iran’s, Ebrahim Raisi, ” Raisi, — Siamak, Emad, Tahbaz —, Timmy Davis, Namazi, Effie Namazi, Vida Tahbaz, Nasser Kanaani, Nour, Mehrdad Ansari, Reza Sarhangpour Kafrani, Donald Trump, Mitch McConnell, ” Biden, Bob Levinson, Mahmoud Ahmadinejad, Neda, ___ Gambrell, Jo, Nasser Karimi, Amir Vahdat, Matthew Lee, Paul Haven, Aamer Madhani, Michelle Phillips, Eric Tucker, Farnoush Amiri Organizations: WASHINGTON, Republican, Democratic, United Nations General Assembly, U.S, South, Iranian Foreign Ministry, Nour News, Mideast, Social, Iranian Ministry of Intelligence, Embassy, Associated Press Locations: Iran, Fort Belvoir , Virginia, Tehran, Doha, Qatar, New York, America, Persian, U.S, Strait, Hormuz, United States, South Korea, Iranian, Korea, Islamic Republic, American, British, Dubai, United Arab Emirates, Washington

However, Iran faces a new challenge from within as the one-year anniversary of the nationwide protests sparked by the death of 22-year-old Mahsa Amini in police custody approaches this Saturday. Today, Iran faces Western sanctions after the collapse of its 2015 nuclear deal. These are Iranian money.”From the Iranian side, claiming victory has been as important as freeing the cash. “This money belongs to the Islamic Republic of Iran," Raisi said through a government translator about the swap. Iranian Foreign Minister Hossein Amirabdollahian suggested resuming negotiations over a roadmap that could see Tehran return to aspects of the nuclear deal, which the Islamic Republic walked away from last year.

Persons: Carter, ”, Walter Mondale, Matthew Miller, Behzad Nabavi, Ebrahim Raisi, Raisi, —, Ronald Reagan, Hossein Amirabdollahian, “, Matthew Lee, Jon Gambrell Organizations: United Arab Emirates, Embassy, . State Department, ”, NBC News, United Nations, U.S, Pentagon, Iranian, Islamic, Associated Press, The Associated Press, Gulf Cooperation, AP Locations: DUBAI, United Arab, Washington, Tehran, Iran, United States, Islamic Republic, South Korea, Qatar, U.S, Algier Accords, Islamic Republic of Iran, Iraq, Today, U.S ., Strait, Hormuz, Persian Gulf, Russia, Ukraine, Gulf

☆ Opinion | A Saudi-Israel Deal Would Bring Big Benefits — to the U.S.
▼ + stars: | 2023-09-11 | by ( Hussein Ibish | ) www.nytimes.com time to read: +1 min

Yet neither Saudi Arabia nor Israel appears to be showing much urgency in getting the deal done, while the Biden administration has made it a clear priority. The main advantage the triangular deal offers the United States is a tightened grip over three vitally important waterways around the Arabian Peninsula: the Strait of Hormuz, the Suez Canal and the Bab el-Mandeb Strait. The Suez Canal, which links the Red and Mediterranean Seas and connects Asia, Africa and Europe, is just as significant. At the other end of the Red Sea, a third key passageway, the Bab el-Mandeb Strait, controls the entrance into the Red Sea leading to the Suez Canal and is similarly significant to global trade. It’s no accident that the only overseas Chinese military base is in Djibouti, just 68 miles from Bab el-Mandeb, or that Beijing invested billions of dollars in that country.

Persons: Biden, Bab Organizations: Beijing Locations: Saudi Arabia, Israel, Washington, United States, Hormuz, Suez, Mandeb, China, Asia, Africa, Europe, Djibouti, Bab el

DUBAI, United Arab Emirates (AP) — A Greek shipper has pleaded guilty to a charge over it smuggling sanctioned Iranian crude oil and agreed to pay a $2.4 million fine, U.S. federal court papers seen Thursday by The Associated Press show. In July, the top commander of the Revolutionary Guard’s naval arm threatened further action against anyone offloading the Suez Rajan, with state media linking the recent seizures to the cargo’s fate. In its 2015 nuclear deal with world powers, Iran regained the ability to sell oil openly on the international market. It also began a cat-and-mouse hunt for Iranian oil cargo — as well as series of escalating attacks attributed to Iran since 2019. China is believed to be a major buyer of Iranian oil, likely at a significant discount.

Persons: shipper, Tourkantonis, Mark Wallace, George W, Bush, “, ” Wallace, Biden, Suez Rajan, Donald Trump Organizations: United Arab Emirates, Associated Press, Navigation, U.S, Nuclear, Empire, United Nations, Nuclear Iran, AP, Suez, Chevron Corp, Revolutionary, Embassy, U.S . Navy, Iranian, “ Locations: DUBAI, United Arab, Suez, Islamic Republic, Tehran, Washington, South Korea, Iran, U.S, Nuclear Iran, Persian, South, Singapore, Mexico, Houston , Texas, Athens, Greece, Gulf of Mexico, America, Hormuz, Swiss, Switzerland, Bataan, Strait, Gulf of Oman, China

The United States government has seized nearly one million barrels of Iranian crude oil that it says was being smuggled to China in violation of U.S. sanctions against Iran, after it raised the threat of prosecution to get the tanker brought to American waters, newly unsealed court papers show. The seizure of the oil from the vessel, the M/T Suez Rajan, is part of a larger and shadowy conflict with Iran. After the tanker began to steam toward the United States last spring, Iran’s Revolutionary Guards Corps seized two oil tankers in the Strait of Hormuz, prompting the U.S. military to increase patrols and deploy additional assets to protect shipping lanes. In July, Iranian state news media said the Guards’ navy commander had warned that Tehran would hold Washington responsible if the tanker’s oil was unloaded, without giving further details. On Wednesday, a high-ranking Israeli defense official, speaking on condition of anonymity, said that the seizure raised new fears that Iran could hijack more tankers in an effort to deter the United States from repeating the move.

Persons: Suez Rajan Organizations: United, Iran, Revolutionary Guards Corps, U.S, Guards Locations: United States, China, Iran, Strait, Hormuz, Tehran, Washington

☆ Japan, Iran leaders to meet in Sept in New York - Kyodo
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Aug 20 (Reuters) - Japanese Prime Minister Fumio Kishida and Iranian President Ebrahim Raisi will meet in New York in September to discuss Iran's nuclear programme among other issues, Kyodo news agency said on Sunday, quoting unnamed Iranian diplomatic sources. Iran aims to promote relations with Japan, traditionally a friendly nation, to avoid international isolation as Iran's talks with the United States and Europe over their nuclear deal have stalled, Kyodo said. Kishida and Raisi also met last September when they visited New York for the U.N. General Assembly. Raisi will ask Kishida to visit Iran and seek to unfreeze Iranian assets in Japan, estimated to be worth around $3 billion, that were frozen in line with U.S. sanctions, Kyodo said. The Japanese side is also expected to emphasise safety in the Strait of Hormuz, the main artery for crude oil transportation and the route for most of the crude oil coming to Japan, Kyodo said.

Persons: Fumio Kishida, Ebrahim Raisi, Raisi, Antony Blinken, Kishida, Kyodo, Yuka Obayashi, Edmund Klamann Organizations: Kyodo, General Assembly, Reuters, U.S, Thomson Locations: TOKYO, New York, Iran, Japan, United States, Europe, Washington, Tehran, Russia, Ukraine, South Korea, Strait, Hormuz

☆ A fierce naval battle 35 years ago shows how destructive another US showdown with Iran could get
▼ + stars: | 2023-08-14 | by ( Paul Iddon | ) www.businessinsider.com time to read: +9 min

More than 50 IRGCN and Iranian Navy personnel were killed, while the US lost one SeaCobra helicopter and its two crew members. After all, Iran has made significant changes to its naval forces and tactics over the past 35 years, becoming "much more asymmetric," according to Bryan Clark, a senior fellow at the Hudson Institute and expert on naval operations. Iran's naval force now consists of the Islamic Revolutionary Guard Corps Navy, known as the IRGCN, and the regular Iranian Navy, Clark told Insider. The Iranian Navy still primarily consists of frigates and corvettes, which operate outside the Gulf, and is much more like other conventional navies. Iranian Navy warship Sahand in Persian Gulf near the Strait of Hormuz in April 2019.

Persons: Biden, Earnest Will, Chance, Samuel B, Roberts, Bryan Clark, Clark, Nadimi, Abu Musa Island, IRGC, Morteza, Kyle Jia Iran's, weren't, Paul Iddon Organizations: Service, US Navy, US, Iranian Revolutionary Guards, Islamic Revolutionary Guard Corps Navy, US Naval Forces Central Command, Fleet, SS, Iranian Navy, Hudson Institute, Washington Institute for Near East, Iran's Navy, REUTERS, Getty, US Marines, US Marine Corps Locations: Persian, Iran, Wall, Silicon, China, Marshall, Iranian, Gulf, Strait, Hormuz, Tehran, Iraq, SS Bridgeton, Abu Musa, Handout, Persian Gulf, Soviet Union, Lebanon, Bataan

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