English हिन्दी
Connect with us

Latest world news

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

Published

on

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.

Latest world news

Netanyahu dismisses death rumours in video with US envoy, says I’m alive

Israel PM Benjamin Netanyahu has denied viral claims about his death, appearing in a video with US envoy Mike Huckabee and mocking online conspiracy theories.

Published

on

PM Benjamin Netanyahu

Israeli Prime Minister appears alongside US envoy, addresses conspiracy theories and ongoing conflict remarks

Israel’s Prime Minister Benjamin Netanyahu has publicly dismissed viral rumours about his death, appearing in a fresh video alongside US Ambassador to Israel Mike Huckabee.

The video surfaced after days of speculation online, where misleading posts questioned his absence and circulated claims about altered footage showing him with “six fingers.”

In the clip, Huckabee jokes that US President Donald Trump had asked him to personally check on Netanyahu. Responding with humour, Netanyahu says, “Yes, Mike. Yes, I’m alive.”

Rumours and online claims gain traction

Speculation had intensified across social media as tensions escalated between Israel and Iran.

Some posts claimed Netanyahu had not been seen publicly, while others pointed to a previous video where his hand appeared unusual, fuelling conspiracy theories about manipulated or AI-generated footage.

Remarks on iran conflict

During the interaction, Netanyahu also made comments referencing Israeli strikes, mentioning Iranian figures including Ali Larijani and Basij commander Gholamreza Soleimani.

Using a metaphorical tone, he spoke about “erasing names” from a list, while praising US support and reiterating Israel’s stance against Iran’s nuclear ambitions.

Huckabee responded in a lighter tone, joking that his own name was not on the list, to which Netanyahu replied that he was among the “good guys.”

Earlier video mocked conspiracy

Before releasing this clip, Netanyahu had already addressed the rumours in another video posted online. Sitting at a café, he joked about being “dead for coffee,” using a phrase implying strong liking.

He also directly responded to the “six fingers” claim by showing both hands to the camera and inviting viewers to count his fingers.

The videos appear aimed at countering misinformation circulating online as geopolitical tensions continue in the region.

Continue Reading

Latest world news

US strikes Iranian missile sites near Hormuz with 5,000-pound bunker buster bombs

US forces hit Iranian missile positions near the Strait of Hormuz using deep penetrator bombs to counter threats to global shipping.

Published

on

In a major escalation aimed at restoring maritime movement, the United States has carried out airstrikes on Iranian missile positions near the Strait of Hormuz using powerful deep-penetration bombs.

The US military confirmed that multiple 5,000-pound bunker buster munitions were used to target hardened missile infrastructure along Iran’s coastline. According to an official statement, the sites housed anti-ship cruise missiles that posed a significant threat to international shipping in the strategic waterway.

The strikes mark the first major US military action to reopen the Strait of Hormuz after Iran reportedly shut it down in response to the ongoing conflict involving the United States and Israel.

Strait disruption triggers global concern

The Strait of Hormuz is a critical global النفط transit route, with nearly one-fifth of the world’s oil supply passing through it. Its closure has severely disrupted shipping activity and triggered a sharp rise in global energy prices.

The US action appears to be aimed at neutralising immediate threats to vessels and restoring safe passage through the region.

Allies reluctant to back US move

The development comes amid reports that several US allies, including NATO members, have declined calls from President Donald Trump to support efforts to secure the strait.

Expressing frustration, Trump criticised allies for not contributing even limited resources such as minesweepers, despite longstanding US support to NATO. He maintained that preventing Iran from acquiring nuclear weapons remains a priority for global security.

However, Iran has consistently denied pursuing nuclear weapons, stating that its nuclear programme is intended solely for peaceful purposes, including energy production.

Use of bunker buster bombs

The bombs used in the operation are designed to destroy fortified or deeply buried targets. These 5,000-pound munitions, often referred to as bunker busters, are capable of penetrating hardened structures before detonation.

While powerful, they are smaller compared to the 30,000-pound bombs reportedly used by the US in previous strikes on Iranian nuclear facilities.

Continue Reading

Latest world news

Top US counterterrorism official resigns over Iran war, cites conscience

Joseph Kent steps down as US counterterrorism chief, questioning the justification for the Iran war and citing moral concerns.

Published

on

Trump official resigns

A senior US national security official has stepped down in protest against the ongoing war with Iran, citing moral concerns and disagreement with the administration’s decision.

Joseph Kent, who headed the National Counterterrorism Center, resigned from his post, stating he could not support the conflict “in good conscience.” In his resignation letter, Kent argued that Iran did not pose an “imminent threat” to the United States.

He also alleged that external pressure, particularly from Israel and influential pro-war voices, played a role in shaping the decision to enter the conflict under President Donald Trump.

“I cannot in good conscience support the ongoing war in Iran,” Kent wrote, adding that the US had been drawn into the conflict despite a lack of direct threat.

Kent further claimed that a “misinformation campaign” by senior Israeli officials and sections of the American media contributed to building support for military action. According to him, this created an “echo chamber” that influenced the president’s perception of Iran as an immediate danger.

In his letter, Kent said that until mid-2025, Trump had acknowledged that prolonged wars in the Middle East had drained US resources and cost lives. However, he suggested that this position shifted under sustained pressure and messaging.

He urged the president to reconsider the course of action, warning that the conflict could push the country toward instability. “You can reverse course and chart a new path for our nation, or allow us to slip further toward decline and chaos,” he wrote.

Kent’s resignation marks the first high-level departure from the administration directly linked to the Iran war.

As head of the National Counterterrorism Center, Kent was responsible for analysing and monitoring terrorist threats. His tenure, however, had been controversial. He was confirmed to the role last year by a narrow Senate vote, facing strong opposition from Democrats over his past associations.

Critics had raised concerns about his links to far-right figures and his stance on conspiracy theories. During his earlier political campaign, Kent had professional associations with individuals connected to extremist groups, which became a point of contention during his confirmation hearings.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com