Free Republic

Iran’s oil exports have dropped to nearly zero under the renewed US naval blockade, according to analysis from a former senior US Treasury official — who predicts that the economic impacts could hit the elite and destabilize the regime within two to three months. Iran’s ability to ship oil out of the Strait of Hormuz to offset its current economic woes has hit a wall under the new blockade, with little to no activity seen at its Kharg Island hub, according to recent satellite images. As Iran and the US attempt to use economic pressures to see who will blink...

Key Points The rapid drawdown of the U.S. Strategic Petroleum Reserve could damage the caverns that store the oil, experts warn. The SPR has tumbled below 300 million barrels for the first time since it was filled in the early 1980s, according to federal data released this week. The SPR faces elevated risks to its operations and cavern integrity as inventories continue to drop. ===================================================================== The caverns that hold the U.S. strategic oil reserve could get damaged by the rapid release of stockpiles in response to the Iran war, experts warned this week as inventories hit a four-decade low. Damage...

America’s emergency oil stockpile has fallen below 300 million barrels for the first time since the Strategic Petroleum Reserve was filled in the early 1980s. Now, some energy experts are warning that the problem may go far beyond simply having less oil available during the next crisis. The rapid drawdown could threaten the underground salt caverns that hold the crude, potentially reducing how quickly the United States can respond to another major supply disruption. The warnings come as the U.S. releases 172 million barrels from the Strategic Petroleum Reserve, or SPR, in response to supply disruptions caused by the Iran...

US President Donald Trump urges Americans to accept slightly higher gasoline prices as the cost of preventing Iran from obtaining a nuclear weapon and said he would soon declare the Strait of Hormuz a US territory. The comments underscore the growing political risk for Trump as higher fuel prices collide with his campaign promise to lower energy costs, with Democrats already seeking to make the economic fallout from the Iran war an issue heading into the November midterm elections. In a speech in Garden City, Trump says Americans who had to “pay a tiny little bit more for your gasoline”...

President Trump said Friday that he plans to declare the Strait of Hormuz “a territory of the United States” after the Iran war. “After we finish defeating Iran, which is being very badly defeated — pretty soon I’ll be declaring the Hormuz Strait a territory of the United States,” Trump said during a Long Island rally for Republican candidates in the gubernatorial and congressional elections. Trump’s preliminary peace deal with Iran — signed June 17 — fell apart last month after Iran attempted to assert control over the strait, including by opening fire on commercial ships that used a sea...

Vice President JD Vance said Thursday that the top US priority in the Iran war was keeping oil and gasoline prices low for Americans, with preventing Tehran from acquiring a nuclear weapon ranking second.The remarks contrasted with President Donald Trump's repeated framing of the fight: that entering the war had the sole objective of preventing Iran from acquiring a nuclear weapon, even if that meant short-term economic sacrifices for Americans.Vance's comments also underscored the growing reality that the war now centers on control of the Strait of Hormuz, which Iran has forced to the top of the negotiating agenda. "I...

U.S. Vice President JD Vance personally asked Ukrainian President Volodymyr Zelensky on July 31 to halt attacks on oil tankers serving the Caspian Pipeline Consortium’s Black Sea terminal near Novorossiysk, the Financial Times reported on August 12. Citing Ukrainian officials and others familiar with the call, the newspaper said Kyiv had agreed not to target CPC infrastructure or non-Russian vessels unless they were under Ukrainian sanctions or carrying Russian oil or other Russian cargo. Ukraine has not struck tankers near the CPC terminal since the July 31 call. Vance’s intervention came after repeated July attacks had disrupted Kazakhstan’s main oil-export...

Join with fellow FREEPERS across the world to pray for AMERICA: For those in Authority in Government, Family, Military, Business, Agri-Business, Healthcare, Education, Churches, Technology, Religious Freedom and the Media. "I urge, then, first of all, that requests, prayers, intercession and thanksgiving be made for everyone: for kings and all those in authority that we may live peaceful and quiet lives in all godliness and holiness." (1 Timothy 2:1-2) Religion Forum threads labeled [Prayer] are closed to debate of any kind. "Finally, brothers, rejoice. Set things in order. Be encouraged. Agree with one another. Be at peace. And the God...

Fox News anchor Bret Baier undercut President Donald Trump’s baseless claim that the U.S. “totally” controls the Strait of Hormuz, a key waterway through which 20% of the world’s oil flows. On Tuesday, Trump spoke with reporters and addressed the strait, which Iran effectively closed after the U.S. and Israel launched the current war on the country in February. But somehow, the president insisted the U.S. has it all under control. “We totally control the Strait of Hormuz,” he said, reality be damned. “We have control over it. Nobody else. Only us. Our navy is unbelievable, and things are going...

Over the past eighteen months, nearly every condition analysts have long said would erode the dollar's dominance arrived at once. War broke out in the Persian Gulf. The Strait of Hormuz has closed, reopened, and closed again, and remains shut as this is written. Iran began charging transit tolls denominated in yuan. Indian refiners started settling Russian crude in yuan and dirhams, the first time a top-five oil importer structurally routed around the dollar for energy. China's cross-border payment system posted record volumes, clearing 1.22 trillion yuan in a single day in March. Central banks bought gold at a pace...

Oil prices jumped about 5% Monday as doubt grew that the U.S. and Iran will reach a deal to increase ship traffic through the Strait of Hormuz. U.S. West Texas Intermediate futures climbed about 5% to close at $82.13 per barrel. Brent crude , the international benchmark, also settled around 5% higher at $87.72 a barrel. President Donald Trump told Axios on Sunday that the U.S. is “only semi-negotiating” with Iran, after he insisted last week that Washington and Tehran were in fact holding talks. Trump indicated that he would rely on the U.S. naval blockade to pressure Tehran rather...

The Embassy of Venezuela in Mexico has been shown, by very different sectors in that country and in Mexico, to be an instrument of the ideological propaganda and political expansion of the personal interests of Hugo Chávez. Observations of interventionism include giving electoral support to the PRD [Democratic Revolutionary Party of Mexico], even "espionage," as well as a presumed importation of high caliber weapons and contacts with the FARC, ETA and Al Qaeda. Mexico City | Tuesday, 15 November 2005 | Vladimir Villegas is a person of Euro-African heritage showing a good sense of humor and charisma. Tall, robust, sporting...

The United States and Israel are planning what would be one of the harshest bombing campaigns to date against energy infrastructure targets in Iran, multiple sources told CBS News, with strikes possible throughout the weekend. There was some discussion about trying to conclude by the time financial markets open Monday because of concern about how the bombings will affect the U.S. and global economy, but an end point wasn't locked in. The Israelis have been notified and are coordinating with the United States, according to multiple U.S. sources. The president has yet to give the final go orders for the...

US stocks dropped on Wednesday as bond yields rose after the Federal Reserve voted to hold rates steady, with three members dissenting and voting for a hike. The Dow Jones Industrial Average (^DJI) fell more than 1,100 points or 2.2% as oil prices rose amid renewed tensions in the Middle East, and long-dated Treasury yields rose following the Fed decision. The S&P 500 (^GSPC) dropped 1.5%, while the tech-heavy Nasdaq Composite (^IXIC) sank about 1.7% as a sell-off in chip stocks continued to deepen. Markets were digesting the Federal Reserve's decision to hold interest rates steady, with three FOMC members...

A wide spread scale over the secret network used to move Iran's oil revenues around international sanctions has [received] criticism. Senior officials have discovered that [corrupt intermediaries] have misappropriated at least $1.6 billion, with some fleeing the country. The controversy has expose the unofficial network of so-called trusts: companies and intermediates entrusted with receiving and transferring oil revenues outside the international banking system. Speaking on state television on Sunday, the head of Iran's State Inspection Organization, Zabihollah Khodaeian, said one intermediart alone had failed to return $200 million in state funds before leaving the country. Khudaeian added that judicial authorities...

The Houthis enacted a maritime blockade against Saudi Arabian-linked ships and ports, dealing another blow to shipping in the Middle East.Transits in the Strait of Hormuz were down this week compared to the previous week as the U.S. struck Iran for the 13th straight day. London-based Lloyd’s List Intelligence tracked 78 transits between July 13 and Sunday compared to 174 between July 6-12.Both east and westbound transits took a hit with 44 eastbound transits between July 13 and Sunday compared to 101 the prior week. Westbound transits dropped from 73 to 34 in the same period. Numbers may fluctuate as...

Oil prices plunged and stocks surged in early trading on Monday after the U.S. paused attacks on Iran over the weekend, opting against a major escalation of the war. Global prices fell 6% on Monday, briefly crossing below $90 a barrel before moving slightly above that benchmark. The decline reversed a days-long run up in crude prices as fighting threatened to worsen a historic global oil shock. Stock prices climbed in response to the drop in oil prices. The Dow Jones Industrial Average climbed 570 points, or 1.1%, while the S&P 500 jumped 0.6%. The tech-heavy Nasdaq increased 0.6%.Crude costs...

Now, I finally understand about Oil, and why it's extracted in one country, and shipped to another, instead of being refined here in the US. This gvies the Big Picture like never before, for me.

The Iran-backed Houthis in Yemen targeted Saudi Arabia’s Aramco oil company on Saturday with missiles and drones, marking a significant escalation in the second front of the ongoing Iran conflict. President Trump issued new warnings against Iran this week, threatening to hit one power plant or bridge for every ship they hit in the Strait of Hormuz after Iran attacked another tanker near the coast of Oman on Tuesday. The President has further said that he is weighing a “massive” attack on Iran, which would be “bigger than ever before,” he said. “They haven’t received enough pain yet,” Trump said...

U.S. oil just topped $90 a barrel and Brent crude is passed $100 a barrel. A number of new factors could mean this crude comeback has legs. For example, what happens if all Iranian oil suddenly went offline? It’s an outlier thought. Maybe it’s crazy. While we can’t all agree on much, can we at least agree that maybe now is the exact right time for crazy, outlier thoughts? Before I get to that, here’s a quick synopsis of where we stand right now with the nearly hour-by-hour headlines around Hormuz and energy. Angry militants in Iran continue to risk...