NEW YORK – Iran’s Revolutionary Guard Corps seized a British oil tanker in the Strait of Hormuz amid soaring tensions in one of the world’s critical energy choke points. Brent climbed more than 1% on the news. The tit-for-tat actions signal greater instability and potential conflict in a region where one-third of the world’s seaborne crude and fuels pass through.
WASHINGTON – The offers made by U.S. President Donald Trump to negotiate a new nuclear agreement with Iran are sincere, U.S. Special Representative for Iran Brian Hook said on Tuesday. “Those who sort of question the sincerity of the President’s invitations, I would just point to the fact that he’s now met twice with [North Korean leader] Kim Jong-Un”, Hook said an event hosted by the Axios media outlet in Washington. Donald Trump has repeatedly said he is open for talks with the Iranian leadership without any preconditions.
NEW YORK (Reuters) – Oil prices sank about 1% on Monday on signs that the impact of a tropical storm on U.S. Gulf Coast production and refining would be short-lived, while Chinese economic data dimmed the crude demand outlook. Crude prices softened as oil companies returned workers to offshore platforms as the effects of (the storm) have subsided.
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Professor Richard Wolff, one of America’s most prominent economists, claimed that if Deutsche was in trouble it was likely far from alone. He explained to RT America that the extent of the crisis would not be known “until something blows and whole game is up.” The Manhattan-based professor told RT host Rich Sanchez: “It would be easy to find statements by experts, by bank CEOs, by Wall Street commentators telling us not to worry – it’s a detail, it only affects one bank. Deutsche Bank is the biggest bank in Germany. It is one of the biggest banks in Europe and the world. If it has serious troubles those troubles are also affecting other banks and they’re affecting the interactions between a monster bank like Deutsche and all the other banks since these banks do an enormous amount of business with one another. The truth is the people who run these banks hide their difficulties from the shareholders, because they want to keep their jobs and from their workers because they don’t want to freak people out – that their jobs might be in danger. So what we’re left with is very little, lots of PR and a big question mark. But we won’t know the extent of it until they’re good and ready or until something blows and then the whole game is up.”
Iran’s oil exports for the month of June dropped to less than 300,000 barrels per day after the United States tightened sanctions on the regime’s main source of income, according to industry sources said and tanker data cited by Reuters. Data from Refinitiv Eikon put Iran crude shipments at about 240,000 bpd. a fraction of the more than 2.5 million bpd that Iran shipped in April 2018, the month before.
DUBAI (Reuters) – Iran should seize a British oil tanker if an Iranian tanker detained off Gibraltar earlier this week is not released immediately, a senior Revolutionary Guards commander said in a tweet on Friday. British Royal Marines seized the supertanker Grace 1 on Thursday for trying to take oil to Syria in violation of EU sanctions, a dramatic step that drew Tehran’s fury and could escalate its confrontation with the West.
Iran’s semi-official Fars news agency reported that the country’s enriched uranium stockpile has now passed the 300kg limit allowed under the deal. Trump, asked if he had a message for Iran, said: “No message to Iran. They know what they’re doing. They know what they’re playing with, and I think they’re playing with fire. So, no message to Iran whatsoever.”