Oil settles lower on new Iran-related sanctions
Brent crude futures settled down US$1.84, or 2.33%, to US$77.01 a barrel. US West Texas Intermediate crude for July was down 21 cents, or 0.28%, at US$74.93.
HOUSTON: Oil prices settled down on Friday as the US imposed new Iran-related sanctions, marking a diplomatic approach that fed hopes of a negotiated agreement, a day after President Donald Trump said he might take two weeks to decide US involvement in the Israel-Iran conflict.
Brent crude futures settled down US$1.84, or 2.33%, to US$77.01 a barrel.
Billed as RM9.73 for the 1st month then RM13.90 thereafters.
RM12.33/month
RM8.63/month
Billed as RM103.60 for the 1st year then RM148 thereafters.
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Malay Mail
29 minutes ago
- Malay Mail
Iran, Israel exchange fresh strikes as nuclear talks stall
TEHRAN, June 21 — Iran and Israel exchanged fresh attacks early today, a day after Tehran said it would not negotiate over its nuclear programme while under threat and Europe tried to keep peace talks alive. Shortly after 2.30am in Israel (7.30pm Malaysia time), the Israeli military warned of an incoming missile barrage from Iran, triggering air raid sirens across parts of central Israel, including Tel Aviv, as well as in the Israeli-occupied West Bank. Interceptions were visible in the sky over Tel Aviv, with explosions echoing across the metropolitan area as Israel's air defence systems responded. At the same time, Israel launched a new wave of attacks against missile storage and launch infrastructure sites in Iran, the Israeli military said. Sirens also sounded in southern Israel, said Magen David Adom, Israel's national emergency service. An Israeli military official said Iran had fired five ballistic missiles and that there were no immediate indications of any missile impacts. There were no initial reports of casualties. The emergency service released images showing a fire on the roof of a multi-storey residential building in central Israel. Local media reported that the fire was caused by debris from an intercepted missile. Israel began attacking Iran yesterday, saying its longtime enemy was on the verge of developing nuclear weapons. Iran, which says its nuclear programme is only for peaceful purposes, retaliated with missile and drone strikes on Israel. Israel is widely assumed to possess nuclear weapons. It neither confirms nor denies this. Its air attacks have killed 639 people in Iran, according to the Human Rights Activists News Agency, a US-based human rights organisation that tracks Iran. The dead include the military's top echelon and nuclear scientists. In Israel, 24 civilians have been killed in Iranian missile attacks, according to authorities. Reuters could not independently verify casualty figures for either side. Talks show little progress Iran has repeatedly targeted Tel Aviv, a metropolitan area of around four million people and the country's business and economic hub, where some critical military assets are also located. Israel said it had struck dozens of military targets yesterday, including missile production sites, a research body it said was involved in nuclear weapons development in Tehran and military facilities in western and central Iran. Iranian Foreign Minister Abbas Araqchi said there was no room for negotiations with the US 'until Israeli aggression stops'. But he arrived in Geneva yesterday for talks with European foreign ministers at which Europe hopes to establish a path back to diplomacy. US President Donald Trump yesterday reiterated that he would take as long as two weeks to decide whether the United States should enter the conflict on Israel's side, enough time 'to see whether or not people come to their senses', he said. Trump said he was unlikely to press Israel to scale back its airstrikes to allow negotiations to continue. 'I think it's very hard to make that request right now. If somebody is winning, it's a little bit harder to do than if somebody is losing, but we're ready, willing and able, and we've been speaking to Iran, and we'll see what happens,' he said. The Geneva talks produced little signs of progress, and Trump said he doubted negotiators would be able to secure a ceasefire. 'Iran doesn't want to speak to Europe. They want to speak to us. Europe is not going to be able to help in this one,' Trump said. Hundreds of US citizens have fled Iran since the air war began, according to a US State Department cable seen by Reuters. Israel's envoy to the United Nations, Danny Danon, told the Security Council yesterday his country would not stop its attacks 'until Iran's nuclear threat is dismantled'. Iran's UN envoy Amir Saeid Iravani called for Security Council action and said Tehran was alarmed by reports that the US might join the war. Russia and China demanded immediate de-escalation. A senior Iranian official told Reuters that Iran was ready to discuss limitations on uranium enrichment but that it would reject any proposal that barred it from enriching uranium completely, 'especially now under Israel's strikes'. — Reuters
The Sun
33 minutes ago
- The Sun
America First or more wars? The complex stakes of the Iran crisis
IT is difficult to discern exactly what the 'big stuff' was that prompted President Donald Trump to leave the G7 summit and return to Washington a day early. While he did not provide specific details, he did advise the nine million residents of Tehran to 'immediately evacuate' their homes – causing mass panic. Any lingering hopes that the president was returning to the White House to work full time on a ceasefire were dashed when Trump dismissed suggestions to that effect made by the president of France, saying: 'I'm not looking for a ceasefire, we're looking at better than a ceasefire.' What the president wants – in his words – is 'an end, a real end, not a ceasefire' and a 'complete give-up' by Iran. At the same time, however, the president told the world that he had not contacted the Iranians to initiate peace talks in any 'way, shape or form', insisting they 'should have taken the deal that was on the table'. Given that many American diplomats have left the region – and that the USS Nimitz and its carrier strike group are being redeployed from the Pacific – it seems clear that the US government is at least considering the possibility that force, or the threat of it, may be necessary to achieve its strategic objectives. Trump has long been clear about one of his primary objectives: Iran 'just can't have a nuclear weapon'. On that point, at least, he has the backing of his allies, as endorsed in the G7 communique, which also described Iran as a 'source of terror'. True to his style, weeks ago he tried a bold – if unlikely – diplomatic initiative by arranging direct talks in Rome between American and Iranian officials. These talks were already stalling before Israel began its bombardment of Iran's labs, uranium enrichment facilities and other targets – and since then, the US-Iran negotiations have completely broken down. Yet even now, speculation persists that – under pressure from Israel's actions and backed by a major US naval taskforce heading towards the Persian Gulf – Trump may try to use this opportunity to achieve a breakthrough deal. When asked by reporters if he might send Vice President JD Vance and negotiator Steve Witkoff to Iran for this purpose, Trump did not rule it out. 'Peace through strength' is a slogan the president frequently uses, but so far in his presidency, it has seldom worked out in practice. This time, the world must hope, will be different. If diplomacy fails, Trump could simply allow Israel to continue its efforts to eliminate Iran's nuclear capabilities and destabilise the theocratic regime, paving the way for its overthrow by the Iranian people. Israeli Prime Minister Benjamin Netanyahu has made no secret of his wish for 'regime change'. He has addressed the 'Persian' people directly and posed for a photograph with the exiled son of Iran's last Shah, who was overthrown by the ayatollahs during the 1979 revolution. Subcontracting the task of disarming Iran and persuading its people to replace their government with a more palatable, peace-loving alternative – without any direct US involvement – likely holds some appeal for American foreign policy, even though Trump reportedly vetoed an assassination attempt on Iran's supreme leader. That carries significant risks, however, which will be apparent to the defence, security and state department officials briefing Trump. For several weeks, Israel has used the George W. Bush playbook from the last Gulf War to justify its attacks in Iran – a pre-emptive military strike aimed at eliminating the threat of weapons of mass destruction. Like the Americans did with Saddam Hussein, Israel is also presenting regime change as an alternative to destruction and defeat. A similar ultimatum is now being issued by Trump, with Israeli backing: give up your nukes and you can stay in power. If not... But the world knows how that Iraqi story ended – a fractured country that fell into civil war and the rise of Isis, an even more brutal and dangerous force than the Baathists. The collapse of Iran into chaos and civil war would be a far greater disaster for the world than anything that has happened in Iraq, Libya, Syria or Afghanistan, in terms of the consequences of transforming a stable (if malign) state into a failed one. Iran is in another league of military and political importance. If there was fighting for control of Iran – and the ayatollahs cannot be expected to meekly slink away to their holy places – then that would soon spread to Yemen and restart the horrific proxy war there with Saudi Arabia. Russia remains Iran's friend and ally, and relies on its Shahed drones that proved so effective in Ukraine. What would Vladimir Putin do to protect his interests? If America intervenes or acquiesces in Israel's escalating campaign, the long-feared regional conflagration between Israel and Iran would no longer remain a private dispute between the two regional superpowers of Israel and Iran. This is especially true given the ongoing involvement of Tehran's proxy groups – Hezbollah, the Houthi rebels, and above all, Hamas. The more nations and groups become involved, the more unpredictable events will become, and the harder it will be for America to control them. Instead of ending far-away wars, this 'America First' approach is pulling the country into even more conflicts. That is very much 'big stuff' – and carries big risks. – The Independent
New Straits Times
33 minutes ago
- New Straits Times
Tesla inks US$560m power deal in China
NEW YORK: Tesla announced Friday that it signed an agreement to build its first grid-scale energy storage power station project in mainland China. The project will help with the flexible adjustment of grid resources, and "effectively solve pressures relating to urban power supply," Tesla said in a post to the Chinese social media platform Weibo. "After completion, this project is expected to become the largest grid-side energy storage project in China," Tesla added. Such energy storage systems help to enhance stability in the electricity grid at a time when there are greater supplies of solar and wind power. Chinese media outlet Yicai reported that Tesla Shanghai, Shanghai authorities and China Kangfu International Leasing Co. held a signing ceremony Friday for the project. It added that the deal involved investments of 4 billion yuan (US$560 million). The contract comes at a moment of tension between Washington and Beijing, with the two sides yet to hash out a long-term trade agreement following tariffs announced by President Donald Trump. China and the United States negotiated a "framework" agreement in London earlier this month following two days of marathon talks.--AFP
