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Trump’s pull out of Iran N-deal may escalate oil prices

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Trump’s pull out of Iran N-deal may escalate oil prices

India will also be affected by oil price rise

The possibilities of US President Donald Trump’s pull out from Iran nuclear deal on May 12 has been influencing the crude oil market. The Brent Crude, the global benchmark, briefly soared above $75 per barrel on Monday after Israeli Prime Minister Benjamin Netanyahu claimed that Iran was lying on its implementation of JCPOA conditions.

According to CNN, bringing back sanctions on Iran could knock out as much as 1 million barrels per day of crude supply, dealing a “blow to increasingly fragile energy markets”.

Micheal Wittner, the global head of oil research at Societe Generals, a French multinational banking and financial services, said, “There will be significant disruption. The market is assuming that oil sanctions will snap back onto Iran”.

Read More: Iran warns US not to withdraw from n-deal or face consequences

Meanwhile, Tehran based Press TV reports that the National Iranian Oil Company (NIOC) exported 2.8 million barrels per day of crude oil and condensate to Asian and European countries in April, a record since the lifting of sanctions in early 2016.

China and India are the biggest buyers taking in 1.4 million bpd of Iran’s oil. South Korea and Japan are Iran’s other key customers in Asia where 60 percent of Iranian oil is exported.

The report further says that Europe receives almost all the other 40 percent of oil shipments from Iran.The major buyers include: France’s Total, Anglo-Dutch Shell, Italy’s Saras, Greek Hellenic Petroleum as well as Polish and Turkish companies.

Read More: Saudi Prince ask US to rethink on Iran-N deal

After January 2016, when US-led sanctions were lifted along with implementation of Iran nuclear deal known as JCPOA, Iran re-emerged as a major oil exporter. However, Trump’s threats to re-impose the US sanctions this month have sent jitters across the global oil market.

Meanwhile Reuters quoted Stephen Innes, head of trading for Asia-Pacific at futures brokerage OANDA in Singapore, saying, “As May 12 Iran nuclear deadline nears, geopolitical developments will continue to drive oil market sentiments”.

On Monday, US President Donald Trump said that Israeli PM Benjamin Netanyahu’s revelations about Iran lying on its nuclear project show he’s “100% right” about the Iranian nuclear agreement. He was quoted saying, “We’ll see what happens. I’m not telling you what I’m doing, but a lot of people think they know.”

Stephen Bennock, the oil analyst at Singapore based brokerage firm PVM Oil Associates, wrote to his clients late last week, “The Iranian nuclear deal is dead in the water and a Trump torpedo is fast approaching.”

Under the 2015 nuclear deal, Iran agreed to limit its nuclear activities, in exchange of lifting sanctions against the country. Iran had quickly boosted its oil production by about 1 million barrels per day after the implementation of the deal in January 2016.

According to FEG estimates, if the sanctions are restored, Iran’s output could be slashed by 250,000 to 50,000 barrels per day by the end of 2018. This figure could rise to 500,000 to 1 million per day through 2019.

Read More: EU: US to lose trust if Washington withdraws from Iran N-deal

FGE has also warned that if no steps are taken to void left by Iran, the gap between supply and demand could shrink to the tightest level since 2013, when oil prices were above $ 100 a barrel.

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Russia says President Vladimir Putin to visit India soon

In July 2024, Modi made a significant trip to Russia, marking his first visit in almost five years, during which he invited President Putin to India.

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On Thursday, Russian Foreign Minister Sergey Lavrov revealed that arrangements are being made for President Vladimir Putin’s visit to India. Lavrov stated, as per the reports, that “President Vladimir Putin has accepted an invitation to visit from the Indian Prime Minister,” affirming that preparations for this significant visit are currently underway.

During the announcement, Lavrov highlighted the diplomatic ties between the two nations, noting that Prime Minister Narendra Modi had made his first foreign trip to Russia after his re-election last year. “Now it’s our turn,” Lavrov remarked, underscoring the reciprocal nature of the visits between the leaders of both countries.

These comments were made during a video address at a conference hosted by the Russian International Affairs Council (RIAC), which focused on the theme “Russia and India: Toward a New Bilateral Agenda.” Although the specific dates for President Putin’s visit have not yet been disclosed, the discussions signal a continued commitment to strengthening bilateral relations.

Earlier in February, there were indications from Tass that Prime Minister Modi might visit Moscow to attend the annual military parade at Red Square, commemorating the victory over Nazi Germany in World War II. However, sources familiar with the situation, speaking on the condition of anonymity, informed the Hindustan Times that while an invitation had been extended to Modi, an official visit was not being planned at that time.

In July 2024, Modi made a significant trip to Russia, marking his first visit in almost five years, during which he invited President Putin to India. This forthcoming visit will be particularly noteworthy as it will be Putin’s first trip to India since December 2021, when he participated in an annual summit.

It will also be his first official visit since the outbreak of the war in Ukraine in 2022. The evolving diplomatic landscape between Russia and India continues to attract attention as both nations seek to enhance their strategic partnership.

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Gaza sees largest anti-Hamas protest amid ongoing humanitarian crisis

In a rare show of defiance, Palestinians in northern Gaza rallied in large numbers against Hamas, demanding the group step down and calling for peace.

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Gaza protest, Hamas Gaza, anti-Hamas protest, Gaza war news, Gaza humanitarian crisis,

In a rare and bold display of public dissent, thousands of Palestinians took to the streets of northern Gaza on Tuesday, staging what is being described as the largest anti-Hamas protest since the outbreak of the war in October 2023. The demonstrations unfolded in Beit Lahia, where crowds were seen chanting slogans such as “For god’s sake, Hamas out,” “Hamas terrorists,” and “We want an end to the war.”

The scale of the protest, captured in video footage verified by a journalist present in the area, highlights a growing frustration among civilians as the humanitarian crisis in Gaza deepens. The death toll has now crossed 50,000, according to Gaza’s health ministry, with the enclave devastated by sustained military action and blockade.

A circulating social media message also called for nine separate protests across Gaza on Wednesday, encouraging citizens to make their voices heard. The message urged, “Let them hear your voice, let them know that Gaza is not silent, and that there is a people who will not accept to be eradicated.” The origin of the message has not been independently verified.

Since Hamas took control of Gaza in 2007 following a civil conflict with the Fatah-led Palestinian Authority, the group has faced sporadic internal criticism. However, public demonstrations of this magnitude are rare, especially amid an active conflict.

The protest comes at a time when northern Gaza is virtually cut off. Following the collapse of ceasefire talks earlier this month, Israel announced it was suspending all humanitarian aid to the enclave. UNRWA reported that no food, water, medicine, or fuel had entered Gaza in three weeks, warning of an impending acute hunger crisis.

Israel has repeatedly accused Hamas of diverting humanitarian aid to serve its military operations—allegations the group denies.

With infrastructure in ruins and the population relying almost entirely on international assistance, the protests underline growing public anger over both the war and Hamas’ governance during this crisis.

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Tiger Woods confirms relationship with Vanessa Trump, Donald Trump Jr’s ex-wife

Tiger Woods has officially confirmed his relationship with Vanessa Trump, Donald Trump Jr’s former wife. The pair shared the news via social media following weeks of public curiosity.

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Tiger Woods and Vanessa Trump confirmed relationship on social media

Tiger Woods has confirmed that he is in a relationship with Vanessa Trump, the former wife of Donald Trump Jr. The golfing icon made the announcement public via a heartfelt post on social media, requesting privacy as their relationship moves forward.

“Love is in the air and life is better with you by my side! We look forward to our journey through life together,” Woods wrote to his 6.4 million followers on X. He also asked for privacy for all those close to them.

Vanessa Trump was married to Donald Trump Jr from 2005 until their separation in 2018. The former couple shares five children, including 17-year-old Kai, who is expected to play collegiate golf at the University of Miami in 2026. Notably, Kai attends the same school as Woods’s children, Sam and Charlie, and recently competed alongside Charlie at a golf invitational.

The couple had been the subject of growing speculation across gossip platforms in recent weeks. Despite being known for guarding his personal life, Woods made the relationship public, drawing comparisons to his 2013 social media announcement about dating Olympic skier Lindsey Vonn.

In the past, Woods explained that going public was a strategy to deter paparazzi and safeguard his children. His children Sam and Charlie were born during his marriage to Elin Nordegren, which ended in 2010 following revelations of Woods’s extramarital affairs.

Woods’s most recent public relationship before Vanessa Trump was with Erica Herman, which ended in 2022 after a long-term partnership and legal disputes over property matters.

Woods also shares a professional connection with the Trump family. He has played golf with Donald Trump on multiple occasions and was awarded the Presidential Medal of Freedom by Trump in 2019. In February, Woods was also seen attending a meeting with Trump to discuss developments in the golf world, especially around the emergence of the Saudi-backed LIV tour.

The announcement comes shortly after Woods revealed he had ruptured his Achilles tendon, ruling him out of the upcoming Masters tournament.

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