Satellite Images Show Iran Racing to Get Its Oil Out
Iran is racing to get its oil out into the world, a sign of the unusual logistical steps that Tehran is undertaking as the US mulls joining Israel in bombing the Persian Gulf state.
Oil is gushing out of the nation's ports and onto ocean-tankers, ensuring revenues would continue — at least for a while — if shipments are disrupted. Despite the surge, storage tanks at the nation's critical export terminal at Kharg Island are brimming with crude.
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Yahoo
an hour ago
- Yahoo
Why Tom Lee says the odds favor a stock-market rally after the Fed decision
Happy Fed Day to all who observe, and at least one widely followed analyst says there's potential for market fireworks despite the 98.8% probability (according to futures markets) the central bank won't move interest rates. That analyst is none other than Tom Lee, the head of research at Fundstrat Global Advisors, whose enthusiasm for stocks generally extends to any day ending with the letter 'Y.' 'I'm at my wit's end': My niece paid off her husband's credit card but fell behind on her taxes. How can I help her? 'I prepaid our mom's rent for a year': My sister is a millionaire and never helps our mother. How do I cut her out of her will? Israel-Iran clash delivers a fresh shock to investors. History suggests this is the move to make. I'm 51, earn $129K and have $165K in my 401(k). Can I afford to retire when my husband, 59, draws Social Security at 62? Why Tom Lee says the odds favor a stock-market rally after the Fed decision Lee, like most everyone, isn't expecting the Fed to cut interest rates later on Wednesday. But he does make a notable case for why the market may react positively. 'We believe the Fed will acknowledge that inflation is undershooting their expectations. Recall the Fed has argued that tariff uncertainty causes them to be on hold. But incoming inflation has been soft,' says Lee. The consumer price index rose a scant 0.1% on a monthly basis in May. Import prices were flat. A real-time measure of import prices, updated through data last week, also has shown little pass through from tariffs to end prices. Market-based measures have fallen to the lowest level in a year, he adds. 'So we think Fed will have to acknowledge this. And we know there is a lot of partisan bias in the inflation consumer surveys,' says Lee. 'So markets likely realize Fed will have to relent eventually and return to a dovish bias.' Lee expects the stock market to return to all-tim highs (the S&P 500 was only 3% away anyway) — he said bitcoin is a leading indicator and the cryptocurrency achievved a record last week. He still has a 6,600 target for the S&P 500 by year end. Stock-market futures ES00 NQ00 were flipping between small gains and losses after an 0.8% retreat for the S&P 500 SPX on Tuesday. Oil CL00 edged higher. Key asset performance Last 5d 1m YTD 1y S&P 500 5982.72 -0.93% 0.71% 1.72% 9.03% Nasdaq Composite 19,521.09 -0.98% 1.98% 1.09% 9.29% 10-year Treasury 4.382 -4.50 -22.30 -19.40 15.50 Gold 3396.8 0.62% 2.42% 28.70% 44.90% Oil 72.63 6.34% 18.41% 1.06% -10.09% Data: MarketWatch. Treasury yields change expressed in basis points Need to Know starts early and is updated until the opening bell, but to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern. At pixel time, the U.S. military still has not joined Israel's fight with Iran, which continued into Wednesday. Iran's supreme leader said the country would not surrender, replying to U.S. President Donald Trump's demand on Tuesday. The Fed decision — and importantly, the dot plot of interest-rate projections — is coming at 2 p.m. Eastern, with Fed Chair Jerome Powell's press conference at 2:30 p.m. Morgan Stanley's economists say they still expecting the dot plot to forecast two rate cuts this year. Weekly jobless claims dipped by 5,000 to 245,000, while housing starts tumbled 9.8% in May to an annual rate of 1.26 million. The Senate passed the stablecoin bill, which creates a regulatory framework for cryptocurrency tokens, and now goes to the House. Goldman ditches ban on SPACs as blank-check firms stage comeback. Jamie Dimon wants workers in the office. So why is he letting JPMorgan's European chief work remotely? The bigger picture from Bulgaria joining the euro Data on the U.S. economy is clearly deteriorating, says Neil Dutta, head of economic research at Renaissance Macro. This chart plots the decline in building material sales, which at a seasonally adjusted annual rate have tumbled 7.7% over the last six months. 'Recall that building material store sales represent an intermediate product that ultimately affects residential investment,' he says. Besides the retail sales report, Dutta also noted the New York Fed's service sector index points on ongoing contraction, industrial production fell for the second time in three months and home builder confidence fell to the lowest level since 2022. Here were the top stock-market tickers on MarketWatch as of 6 a.m. Eastern. Ticker Security name TSLA Tesla NVDA Nvidia GME GameStop PLTR Palantir Technologies AMD Advanced Micro Devices AAPL Apple TSM Taiwan Semiconductor Manufacturing AMZN MLGO MicroAlgo CRCL Circle Internet Group An Italian museum had a crystal-covered chair on display, and the inevitable happened. An 80-year old man tried driving down the famous Spanish Steps in Rome, and it didn't go well. This elderly dog, however, had more success taking on a wild bear. For more market updates plus actionable trade ideas for stocks, options and crypto, . I'm 75 and have a reverse mortgage. Should I pay it off with my $200K savings — and live off Social Security instead? 20 companies in the S&P 500 whose investors have gained the greatest rewards from stock buybacks Israel-Iran conflict poses three challenges for stocks that could slam market by up to 20%, warns RBC 'I'm 68 and my 401(k) has dwindled to $82,000': My husband committed financial infidelity and has $50,000 in credit-card debt. What now? 'It might be another Apple or Microsoft': My wife invested $100K in one stock and it exploded 1,500%. Do we sell?
Miami Herald
an hour ago
- Miami Herald
Why Iran War Hurts China More Than America
China's energy supply from the Middle East could face severe disruptions as the Israel-Iran conflict threatens to spill over into a wider regional war. The industrial superpower's $19 trillion economy relies heavily on coal, natural gas and crude oil for manufacturing. China was the world's largest consumer of energy in 2024 and the second-largest consumer of oil behind the United States, according to the London-based Energy Institute. Israel has launched a week of airstrikes targeting sites in Iran, including facilities central to Tehran's nuclear program, but its energy export infrastructure has so far been spared. That could change as the war intensifies, and fears are growing that Iranian political leaders could respond to any U.S. military intervention by blockading the strategic Strait of Hormuz. Officially, China imported no oil from Iran last year. However, energy researchers say Iranian oil delivered via unofficial channels, such as transshipment, largely end up in the country's smaller independent refineries. The U.S. has sanctioned Chinese entities that allegedly assist in Iran's secret oil trade in defiance of Western restrictions. Over 90 percent of Iran's sanctioned-and therefore cheaper-crude oil exports go to China, including via transshipment points such as Malaysia, said commodities analysts at Kpler. But Chinese energy imports are further exposed in or near the Persian Gulf, where six of its top 10 oil suppliers are found in official government statistics. While Beijing's top oil supplier in 2024 was neighboring Russia, shipments from Saudi Arabia, Iraq, Oman, the United Arab Emirates, Kuwait and Qatar together accounted for over half of China's oil imports, according to Newsweek's analysis of available customs data. The U.S. bought the bulk of its crude oil from Canada. Saudi Arabia and Iraq were among its top 10 suppliers but only accounted for around 8 percent of its imports. Energy markets are jittery. U.S. President Donald Trump's call for Iran's "unconditioned surrender" sent up oil prices this week, but global costs would spike if Tehran follows through on its threat to close the Strait of Hormuz, which links the Persian Gulf to the Gulf of Oman and the wider Indian Ocean region. The U.S. Energy Information Administration estimates that up to 20 million barrels of crude oil each day flow through the waterway, which is just 21 miles wide at its narrowest point. Oil prices are still on the rise as the Israel-Iran missile war enters its seventh day. West Texas Intermediate crude, a U.S. price measurement, topped $76 per barrel, a five-month high. The international standard Brent crude reached $77 per barrel, a four-month high. A major conflict that cuts off supply lines from the region could result in a global economic shock that sends oil above $100 per barrel. Prices last reached that point in March 2022, after Russia's invasion of Ukraine. Officials in Beijing appear to be planning for the worst. China has been building up crude oil stockpiles by refining less than it buys and produces itself, according to Reuters. What's more, disruptions in the Middle East could directly benefit Russia, among the world's top energy exporters. China's Foreign Ministry did not immediately respond to a written request for comment after hours. Howard J. Shatz, a senior economist at the RAND Corporation, said in analysis published by the think tank this week: "Oil prices jumped with the start of Israel's action against Iran, suggesting that oil markets see increased risk, but it is too soon to reach a concrete judgment on global economic consequences. "There will be two specific factors to watch to make a better judgment as to global economic consequences: first, whether Iran attacks Gulf Arab oil infrastructure, and second, whether passage through the Strait of Hormuz is blocked. If either or both happen, energy prices are likely to rise much further, raising the risk of a global recession. If neither happens, there will be heightened risk, but more modest energy price increases to which the world can probably adjust, although with a modest drag on growth." World leaders have moved to inject calm in the Middle East, the latest being Chinese President Xi Jinping and Russian counterpart Vladimir Putin, who in a call on Thursday condemned Israel for escalating tensions by striking Iran. "If the conflict escalates further, not only will the conflicting parties suffer greater losses, but regional countries will also suffer greatly," Xi said, according to China's official Xinhua news agency. "The parties to the conflict, especially Israel, should cease fire as soon as possible to prevent the situation from escalating in turn and resolutely avoid the spillover of war," he added. Related Articles Video of Theo Von Sounding Alarm on Possible War With Iran Takes Off OnlineSatellite Images Show Iran's Buried Nuclear Sites That Trump Could StrikeRussia's Alliance With Iran Explained Following Nuclear WarningPutin is Close to Losing His Grip on the Middle East 2025 NEWSWEEK DIGITAL LLC.
The Hill
an hour ago
- The Hill
Could US involvement in Israel-Iran war spark cyberattacks?
U.S. companies, global supply chains and other critical infrastructure could be at risk of Iranian cyberattacks if President Trump engages the U.S. in the escalating war between Israel and Iran. Threats of the U.S. being targeted come as cyberattacks launched by Iran on Israeli banks and other targets have reportedly spiked by 700 percent since the conflict began last week. In the wake of the attack, the U.S.-based Food and Agriculture-Information Sharing and Analysis Center (ISAC) and the Information Technology-Information Sharing and Analysis Center (IT-ISAC) issued a joint statement urging U.S. companies to bolster their defenses against possible cyberattacks. But as Trump considers whether and to what extent the U.S. could become involved in the ongoing war, how the country's digital landscape will be affected should remain among the White House's biggest concerns, former CIA officer and FBI special agent Tracy Walder told NewsNation, The Hill's sister network. 'I personally feel that this is the No. 1 threat,' Walder, a NewsNation national security contributor, said Thursday. Walder says that Iran has already warned against U.S. involvement, pledging 'all-out war' were the U.S. to lend support to Israel. She believes a large part of that response would likely involve cyberattacks directed at critical sites such as water treatment plants and other key facilities. 'They've done it before, and so I don't have any reason to think they wouldn't do it again,' Walder added of Iran's history. An Iranian track record of cyberattacks In its warning to U.S. companies, the joint statement between the Food and Agriculture ISAC and IT ISAC said that historically, Iranian state-sponsored actors, as well as pro-Iran hacktivists and cybercriminals, have launched attacks against U.S. targets during periods of heightened conflict. The organizations said in the wake of the recent volley of missiles launched between Israel and Iran, U.S. companies should take immediate steps to 'proactively assess' their cyber preparedness. The warning also urged companies to prepare for a range of cyberactivities, some of which could be potentially disruptive. 'Preparedness is critical to resilience,' the guidance said, adding that companies should also make themselves aware of Iranian-affiliated cyberthreats. Walder, without direct knowledge of intelligence being provided to Trump, believes that both the administration and the U.S. intelligence community are likely actively conducting threat assessments. She predicts that part of ongoing discussions with Israel may include how cybersecurity protections would be given to the U.S. in exchange for supplying 'bunker buster' bombs. Dating back to her time in the CIA, Walder has remained vocal about the seriousness of the cyberthreats that Iran and other foreign adversaries present. But she warns that Iran, along with China, poses the biggest concerns. In 2016, seven Iranians were indicted for conducting cyberattacks against U.S. financial institutions, including Bank of America and Chase, between 2011 and 2013. The FBI said at the time that the attacks cost American banks tens of millions of dollars and also compromised critical controls of a New York dam. Most of the attacks against the banks were part of a systematic campaign of distributed denial-of-service attacks, which disabled bank websites and prevented customers from accessing their accounts. In 2022, Iranian nationals who FBI officials say were sponsored by the Iranian government were indicted for an attempted cyberattack on Boston Children's Hospital in 2021, marking the third time the hospital faced similar threats. 'Iran is highly capable in the cyber realm, and we, I think, don't want to recognize that sometimes,' Walder said, adding, 'We have no choice but to take them seriously. If we don't, that's incredibly negligent on our part, because they've done it successfully before.' What could cyberattacks look like? If Iran were to act, Iranian financial resources could be used for state-sponsored ransomware attacks and wiper malware attacks that could be directed at U.S. infrastructure, Axios reported. The Cybersecurity Infrastructure Security Agency (CISA) recently reported that recent Iranian state-sponsored activity has included malicious cyberactivity against operational technology devices. The agency warned companies that certain steps, including strengthening existing passwords and implementing multi-factor authentication, should be taken to build resilience against potential threats. Messages sent to the CISA and National Security Council on Thursday from NewsNation seeking comment were not immediately returned. The FBI, in recent years, has issued reports warning against the threat that Iran presents, including cyberattacks, which have previously proven costly to the U.S. economy. While U.S. critical infrastructure remains a main target, other possibilities, including America's food chain, could be in danger. Walder points to a June 5 ransomware attack on United Natural Foods, Inc., which is the primary distributor to Whole Foods, that shut down distribution to more than 30,000 North American grocery stores. Food distribution services and other technology services are still recovering, providing a glimpse into what could happen should the U.S. be attacked in this manner. If Iran were to attack, Walder predicts it would target private companies that are associated with the country's critical needs and critical infrastructure, which would impact large populations of Americans while also exposing the country's vulnerabilities. 'In my opinion, this is what warfare looks like,' Walder told NewsNation.
