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Repairs to Saudi Arabia's East-West oil pipeline will take far longer than a month due to a lack of spare parts, with the pumping infrastructure catastrophically damaged and at least 8 locations on the pipe hit, per initial reports citing sources inside Saudi Arabia.
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Bessent: "Ukraine has decided that they want to blow up Russian energy assets and refined products, so that is creating upward price pressure on a global basis"
Valero Energy Corp's 385,000 barrel-per-day (bpd) Port Arthur, Texas, refinery was hit by a partial power outage on Tuesday night following the passage of Tropical Storm Edouard, people familiar with plant operations said.
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Video from earlier today shows a huge explosion at an LPG filling station in Pyatigorsk, Russia.
@Osinttechnical, @neonhandrail @Osint613
Long lines formed at gas stations in Bandar Abbas on Saturday, May 16, amid what a citizen described as a crisis in access to gasoline, a video sent to Iran International shows.
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Unverified report of large explosion in Israel
Senior Trump advisers have pressed the UAE to take a larger role in the conflict with Iran, with proposals that include capturing Lavan Island. - Telegraph
The United States has not issued an order extending authorisation to buy Russian oil after the sanctions exemption expired on 16 May. @staunovo
Iran FM points to higher US interest rates as a consequence of US war with Iran
Americans are told that they must absorb rocketing costs of war of choice on Iran.
Put aside gas price hike and stock market bubble. Real pain begins when U.S. debt and mortgage rates start to jump. Auto loan delinquencies are already at 30+-year high.
This was all avoidable.
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Reports of auto lubricant shortages
CHINA, US AGREE TO REDUCE LEVIES ON A CERTAIN RANGE OF PRODUCTS
Trump’s Hormuz ship insurance facility has done $0 business - FT
Anthropic beats OpenAI in business adoption for the first time, per @tryramp data
Iran announces partial blockade of the Strait of Hormuz, fees to be charged for passage
Iran, within the framework of its national sovereignty and the guarantee of international trade security, has prepared a professional mechanism to manage traffic in the Strait of Hormuz along a designated route, which will be unveiled soon.
In this process, only commercial vessels and parties cooperating with Iran will benefit from it.
The necessary fees will be collected for the specialized services provided under this mechanism.
This route will remain closed to the operators of the so‑called “freedom project.”
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Trump: the US eliminated an ISIS leader in Nigeria
Trump says the US allowed 3 Chinese tankers with Iranian oil to exit Hormuz - Fox Interview
NEXTERA ENERGY IN TALKS TO COMBINE WITH DOMINION ENERGY: FT
Enbridge "definitely would consider" backing a new oil pipeline to Canada’s west coast, its CEO said, giving an early vote of confidence hours after Mark Carney signed an energy deal with Alberta Premier Danielle Smith - Bloomberg
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U.S. & Israel are reportedly preparing to possibly resume combat operations against Iran as early as next week.
