Latest News
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Trump: 'Many countries' are sending warships to the Strait of Hormuz.
Donald Trump, the U.S. president, said on Saturday that a number of countries would send warships in order to maintain the Strait of Hormuz as a shipping route. He did not specify which countries would be doing this. Trump posted a message on Truth Social saying that "Many Countries will be sending War Ships in conjunction with United States of America to keep the Strait safe and open." Trump said that he hopes China, France Japan South Korea and Britain will send ships to the region. He wrote: "The United States will continue to bomb the hell out of the shoreline and shoot Iranian Boats and Ships into the water." The White House did not respond immediately to a question about whether countries had agreed to ship ships. Western nations have boosted their military presence in eastern Mediterranean as the conflict in Iran continues. They are focusing on the safety of Cyprus after an Iranian drone struck a British base on the island in March. John Healey, the British defence minister, said that Britain was also looking at additional options to deploy in the Gulf following an increase in Iranian attacks against vessels. A spokesperson for the Ministry of Defence said that on Saturday, the British government was in discussions with allies and partners to discuss "a range of possible options" to ensure "the security of shipping within the region". As part of its defensive support for allies, the French Navy has deployed about a dozen vessels, including 'its aircraft carrier strike groups, to the Mediterranean Sea, Red Sea, and possibly 'the Strait of Hormuz. French officials have been in consultation with European, Asian, and Gulf 'Arab countries over the last week to develop a plan to eventually have warships escort oil tankers through this strait. Trump stated on Thursday that the U.S. is?willing' to escort vessels through the Strait?of Hormuz in order to protect them against Iranian attack. His administration is looking for ways to reduce high oil prices caused by the U.S. and Israeli war on Iran. (Reporting from Bhargav Asharya in Toronto, and Milana Vinn, in New York. Editing by Toby Chopra. Sergio Non. Rod Nickel.)
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Argentina: US Justice Dept. backs bid to halt YPF discovery
The U.S. Justice Department filed a'memorandum' supporting Argentina's request to suspend a 'discovery' process in a New York Court case?related to the 'nationalization' of YPF state 'oil 'company in 2012, Argentina's Treasury Attorney's Office announced on Saturday. The filing was submitted to the Southern District Court of New York. It argues that the current discovery is too intrusive, and violates international principles of courtesy and reciprocity. The?U.S. The?U.S. Argentina wants to halt the discovery and withdraw a contempt complaint filed by plaintiffs Petersen Energia 'Inversora and Eton Park Capital Management who were awarded damages of $16.1 'billion. The litigation is funded in part by UK-based Burford Capital. Burford Capital would get a large share of any payout, and they had requested information about Argentina's gold reserves. Argentina asserts that the case is outside U.S. jurisdiction and should be governed Argentine 'law. It also claims that President Javier Milei, who has been in office since December 20, 2023, fully cooperated with 'legal requests. The government deems that the demands for discovery are disproportionate. Under Milei and Donald Trump's libertarian government, the United States -and Argentina- have strengthened their economic ties. Washington has become a major supporter of Argentina's plans to'seek out international investment'. YPF, Argentina's biggest oil and gas firm, aims to become a global energy company by developing the Vaca Muerta shale. This formation has the second largest shale-gas reserves in the world and the fourth largest shale-oil reserves. (Reporting by Lucila Sigal, Editing by Alexander Villegas & Emelia Sithole Matarise)
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Hamas urges Iran to refrain from targeting its neighbors, but asserts the right to self defense
Hamas, a militant Palestinian group that is aligned with Iran, has 'called on Iran not to target neighbouring lands while still reaffirming Tehran’s right to retaliate?to U.S. and Israeli?attacks. The group is making its first public comments on Iranian policy. The group has shown solidarity with Iran in the war, but so far it does not appear to have threatened any retaliatory action. The group said that while it affirms Iran's rights to respond to the aggression using all?available methods in accordance with international laws and norms, it urges?our brothers in Iran to not target neighboring nations. The statement also called on all countries and international organizations to stop the war immediately. Israel and Hamas reached an agreement on a Gaza ceasefire that was implemented in October. However, there have been frequent outbreaks of violence ever since. Israeli attacks against Gaza decreased at the beginning of the Iran war, but have now increased. Hezbollah in Lebanon, which is allied with Iran, opened fire on Israel March 2, to avenge the killing of Iran's Supreme Leader at the beginning of the war. Israel has since then pounded Lebanon, and targeted the group. Houthis from Yemen, who are allied with Iran, launched a military offensive against ships that they believed were affiliated?with Israel during the Gaza war. They have also shown strong support for Tehran. They haven't yet threatened to resume their attacks. (Reporting and editing by Jaidaa Taka; Toby Chopra).
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Reeves: UK considers targeted support for householders as energy costs rise.
In an interview published Saturday, Finance Minister Rachel Reeves stated that the British government was looking to offer "targeted support" to poorer households in order to reduce the impact of the rising energy costs caused by the conflict in the Middle East. Reeves, a Times reporter, said that the government is looking into options to help those affected by sharp increases in energy prices, particularly those who rely on heating oil. However, he ruled out a universal aid for all households because it would not be affordable. Labour, which is trailing Reform UK in the polls, has been under pressure by opponents to cap the regulated household tariffs, due to be reviewed in late May, and to cancel a planned increase in vehicle fuel duties in September. "I've?found money and we have worked out with MPs and others how to help people who aren't protected by the energy price cap. She said that the plan would help households who depend on heating oil. In Britain, more than one million households use oil as a heating fuel. This is especially true in rural areas without access to the gas grid. In Northern Ireland, almost half the households use oil as their sole source of heat. SHOCKS: HEATING OIL USERS WILL PAY MORE? The government's energy price cap does not cover heating oil, so consumers are more vulnerable to fluctuations in global oil prices. Reeves said to the Times that Treasury is modeling different scenarios depending on the length of the Iran conflict, including "more focused options" for support. She said, "I'm concerned about how high our debts are, given the debt we inherited. I want to see what other options there would be." The Competition and Markets Authority of Britain wrote to Reeves, on Saturday, saying that it would be contacting several firms involved in the distribution of heating oil as a "matter of urgency", to determine whether their practices were of concern. The letter by the CMA chief executive Sarah Cardell stated that "the CMA is at the initial stages of its review and it shouldn't be assumed that businesses have broken consumer protection laws, but we will not hesitate to enforce if any potential breaches are found." The CMA stated that it was also monitoring the vehicle fuel prices in order to determine if this situation was being abused. The Times reported that Reeves was planning to use his speech on Tuesday to not only address energy issues but also call for a more close alignment with the European Union's single?market in order to boost growth. She told the newspaper that Brexit was not good for her country, growth or prices at the shop. "It has been almost 10 years since the Leave vote. The ship may have sailed, but we still have a lot to do to improve our trade relations. We should align ourselves where it is in our national interests. (Reporting and editing by Toby Chopra, Louise Heavens, and Michael Holden)
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Sources say that some oil loading operations have been suspended following a fire in Fujairah.
After a fire broke on Saturday, some?oil-loading operations were suspended in the?Fujairah, an emirate of the United Arab Emirates, which is a major bunkering center. According to the media office of the emirate, debris fell from a drone during its 'interception.' However, no injuries have been reported. The civil defence forces are tackling the incident to contain it, according to the statement. The authorities did not give any information about the reported suspension of operations. Bloomberg News reported earlier that certain oil-loading activities in the port of Fujairah outside the Strait of Hormuz had been suspended following a drone attack. ADNOC (the state-owned oil company of Abu Dhabi) did not respond immediately to a comment request. ADNOC shut down its Ruwais refinery on Tuesday in response to an incident that occurred at a facility in the complex after a drone strike. This was done to prevent further disruption to energy infrastructure due to the U.S. and Israeli war against Iran. Source: (Reporting and editing by Sarah El-Safty and Jaidaa Verma, and Gareth Jones and Toby Chopra)
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Reeves: UK considers targeted support for householders as energy costs rise.
In an interview with?Saturday, Finance Minister Rachel Reeves stated that the British government was looking at providing "targeted support" for the poorer households in order to offset the impact of the rising energy costs caused by the conflict?in the Middle East. Reeves, a Times reporter, said that the government is looking into?options? to help those affected by sharp increases in energy prices. This includes those households who rely on heating oil. However, he ruled out a universal program for all homes, stating it would not be affordable. Labour, which is trailing the populist Reform UK Party in the polls, has been under pressure by opponents to cap the regulated household energy tariffs, due to be reviewed in late May, and to cancel a planned increase in vehicle fuel duty in September. "I've found the money, and we have worked with MPs and others to develop a response for those who aren't protected by the cap on energy prices. "We're providing greater support for those who are in need," she said of the plan to assist households that rely on heating oils. In Britain, more than a million households use?oil as a heating fuel. This is especially true in rural areas without access to gas grids. In Northern Ireland, almost half the households use only oil as a fuel. HEATING OIL USERS WILL SUFFER A LARGER PRICE SHOCKWAVE The government's energy price cap does not cover heating oil, so consumers are more vulnerable to fluctuations in oil prices. Reeves said to the Times that Treasury is modeling different scenarios depending on the length of the Iran conflict, including "more focused options" for support. She said: "I'm?concerned about how high our debts are, given the debt we inherited. And?so, I want to?look at the different options that would be available." The Times reported that Reeves will use his speech on Tuesday to?not only address energy issues but also call for a?closer alignment to the European Union's single market in order to boost growth. She told the paper that Brexit was bad for her country's growth and for prices at the shops. "It has been almost 10 years since the Leave vote. The ship may have sailed, but we still have a lot to do to improve our trade relations. We should align ourselves where it is in our national interests. (Reporting and editing by Toby Chopra, Louise Heavens, and Michael Holden)
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JERA's exec claims that there is no immediate shortage of LNG in Japan, but they are currently in negotiations for additional supply.
JERA, Japan’s largest power generator, is not facing a shortage of liquefied gas, despite the U.S. and Israel’s war against?Iran. However, JERA is in talks with long-term suppliers about possible additional supplies, according to a senior executive on Saturday. Global CEO Yukio KANI said that Japan's biggest LNG buyer, Global, handles around 35 million metric tonnes of super-chilled gas annually. Around 27 million tons of this fuel are used in Japan, with about 5% passing through the Strait of Hormuz. Iran has disrupted the shipping in the'strait', which is a conduit for 80% of the world's fossil fuel?supplies. Kani, speaking to reporters at the Indo-Pacific Energy?and Business Forum, said that there is no immediate LNG shortage. However, the team of the company is exploring the possibility of additional purchases with global suppliers, with whom JERA has long-term contracts. He warned that the 'Iran Crisis' may not end soon. If the crisis worsens, and the Strait of Hormuz is closed, it may be necessary to consider working with the Japanese government on measures like asking consumers to conserve energy or restarting coal-fired power plants. (Reporting and editing by William Mallard; Yuka Obayashi)
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Kharg Island, which was struck by the US, is a key hub for Iran's oil exports
Kharg Island is the center for 90% of Iran’s oil exports. It has been viewed as a key vulnerability by Tehran and would prompt a severe response if attacked. Donald Trump stated on social media that the U.S. had "totally destroyed every MILITARY Target" on Kharg. He also threatened to target oil infrastructure if Iran continued to interfere with shipping through the Strait of Hormuz. Iran has increased its oil production in preparation for the launch of Israel's and the U.S.'s war on February 28, and continues to ship between 1.1 and 1.5 million barrels of oil per day according to data from TankerTracker.com. The markets were watching for any signs that Kharg's complex network of terminals, pipelines and storage tanks had been damaged by the strikes. Even minor disruptions can further restrict global supply and add?pressure to a volatile market. Dan Pickering is chief investment officer at Pickering Energy Partners. He said: "If you remove Kharg infrastructure from the market, 2 million bpd will be permanently removed. Iranian media reported that Iran's armed force said on Saturday that any attack against Iran's oil or energy infrastructure would lead to attacks against energy infrastructure owned by oil companies cooperating in the region with the U.S. "I am very worried that it raises the temperature, and Iran has less to lose. It seems to escalate. When Iran is pushed into a corner, it will act with greater confidence. This was the opinion of Patrick De Haan an analyst at U.S. fuel prices tracker GasBuddy. Iran has almost completely shut down shipping through the Strait of Hormuz. Through this channel, 20% of world oil is transported, mainly to Asia. Key Supply Source for China Kharg is located 16 miles (26km) off the coast of Iran, approximately 300 miles (483km) northwest of Strait of Hormuz. The waters are deep enough for tankers to dock that would otherwise be too large to enter the shallow coastal waters of the mainland. China is the largest crude importer in the world and has taken measures to protect its supply amid the Middle East disruptions. According to tanker tracking company Kpler's data, Iranian oil accounts for 11.6% (or a total of 16,000) of China's seaborne imported goods so far this season. Most are bought by independent refiners who were attracted to the deeply discounted prices because of U.S. Sanctions on Tehran. Kpler data indicates that Iran exported 1.7m bpd of crude oil so far this season, with 1.55m bpd being shipped via the?Kharg. Kpler data revealed that Iran's exports had risen to 2.17 million barrels per day in February, before the war. The data revealed that it shipped a record 3,79 million bpd during the week ending February 16. Kharg's storage capacity is approximately 30 million barrels. It held about 18 million barrels as early March according to Kpler data cited in a JP Morgan Report. According to TankerTrackers.com, satellite images reviewed on Wednesday showed that multiple very large crude oil tanks were loading in Kharg. Iran is the third largest OPEC oil producer, producing about 4.5% global oil supply. Iran produces about 3.3 millions bpd crude oil, plus 1.3million bpd condensate.
World breaks most popular day record once again, despite El Nino's end.
The world once again registered its most popular day on record on Monday, inching past the previous high tape-recorded just 24 hours earlier on Sunday, according to preliminary information from a European Union keeping an eye on company.
As heatwaves sizzled around the globe and wildfires swallowed up parts of the Mediterranean, Russia and Canada, the global typical surface area air temperature increased to 17.15 degrees Celsius ( 62.87 degrees Fahrenheit) on Monday, July 22. That was 0.06 C. ( 0.11 F) greater than Sunday's record according to the EU's. Copernicus Environment Change Service, which has tracked such information. since 1940.
This consists of temperatures in the Southern Hemisphere, which. is currently in winter, lowering the worldwide average.
Scientists stated it was possible that Tuesday or Wednesday of. this week might again surpass Monday's record, as temperature level. peaks generally happen in clusters.
The last record hot day was in July 2023, when the record. was repeatedly broken across 4 successive days from July 3. through 6. Before that, it was set in August 2016.
What makes this year's record uncommon is that - unlike in. 2023 and 2016 - the world in April vacated the El Nino. climate pattern, which normally amplifies global temperatures. owing to warmer-than-usual waters in the Eastern Pacific.
Karsten Haustein, a climate scientist at Leipzig University. in Germany, stated it was amazing that the record had been. breached again now with the world well into the neutral stage of. the El Nino-Southern Oscillation.
This points to the greater-than-ever influence of climate. change, driven by the burning of fossil fuels, in improving. worldwide temperatures, researchers state.
It's truly worrying that there's not an El Nino year and. we're seeing this, said Joyce Kimutai, an environment researcher with. Imperial College London and the Kenya Meteorological Department. We've seen the signal return to neutral, and practically La Nina,. in fact.
A La Nina would cause considerable international cooling, masking. a few of the warming from environment change.
Then we would actually anticipate the temperature levels to come down,. she stated. If that is not happening, then it indicates there's. actually something wrong taking place in our planet.
ASIA BOILS
China has provided a series of heat notifies today, with. lots of weather condition stations in parts of main and northwestern. China tape-recording temperature levels in excess of 40 C (104 F).
The main Chinese city of Wuhan, which hosted an. worldwide environment modification meeting today, issued a heat. red alert early on Wednesday after temperatures hit 42.2 C (108. F) a day earlier.
Taiwan was also bracing for the impact of Typhoon Gaemi on. Wednesday, with factories and financial markets closed down amid. forecasts of torrential rain. Wind speeds at its centre were. approaching their 2nd greatest ever taped for the Western. Pacific Ocean on Wednesday afternoon. China's state weather condition. bureau also released a hurricane red alert.
Researchers state environment modification is making tropical storms - tropical. cyclones which gain energy by feeding upon ocean heat-- more. intense, capable of reaching higher wind speeds and discarding. more rain.
Japan too has experienced record-breaking heat throughout. July. Heat stroke alerts were released in 39 of the nation's 47. prefectures on Monday, with temperature levels going beyond 37C (99 F).
BURNING DOWN. More than 40 million Americans on Tuesday were dealing with dangerous. temperatures, mainly in the U.S. West where wind gusts and dry. conditions stoked dozens of wildfires.
Extreme heat will continue to blanket an area extending. north from the U.S. Southwest through Nevada and into Idaho and. Montana over the next 2 days before milder temperature levels arrive. on Friday, the U.S. National Weather condition Service said. The province of Alberta in western Canada is likewise coming to grips with. lots of wildfires that have caused evacuations of thousands of. individuals, consisting of from Jasper National forest on Monday night.
Even the far north is enduring a heatwave.
Fairbanks, Alaska was set to strike 31 C (88 F) on Wednesday,. approaching past records, while temperatures in parts of the. Canadian, Russian and Norwegian Arctic were reaching. temperature levels more than 9 C (16.2 F) above the 1979 to 2000. baseline average for this time of year.
Russia's state forest agency has actually been fighting lots of. blazes in Siberia in current days as the abnormally hot summertime. fuels fires.
COOLING DOWN?
In Europe, Spain endured blistering temperatures in its. second heatwave of the summertime, which got here on Tuesday, simply. 4 days after the first one ended. The heat was anticipated to. peak on Wednesday, with at least one wildfire burning out of. control in the northeast of the nation.
Weather condition service AEMET put about half of Spain's area on. orange alert for heat and part of the eastern area of. Extremadura on red alert, forecasting optimum temperature levels of 44. C.
On the other hand, Greece's longest-ever heatwave ended formally. on Wednesday after 16 days, beating the record set just last. year.
It is notable that the record was broken so quickly, in. simply the following year, stated Kostas Lagouvardos, research. director of the National Observatory of Athens. While temperatures during the most recent heatwave - Greece's 2nd. this summer season - were not extreme, nighttime temperature levels did not. fall listed below 30 C in particular regions, intensifying the effect of. heat tension on human beings, Lagouvardos said.
(source: Reuters)