Latest news with #PodForceOne
Yahoo
16 hours ago
- Business
- Yahoo
Oil prices surge more than 10% as Israel strikes Iran in major escalation
Oil prices jumped over 10% Thursday night following Israel's military strikes on Iran, marking a significant escalation in the Middle East conflict. West Texas Intermediate (CL=F) rose to nearly $74 while Brent (BZ=F), the international benchmark, jumped above $75 per barrel in the aftermath of the attack. Israel said it conducted what it called "preemptive and precise" strikes against Iran, citing fears over development of nuclear weapons in Tehran. "Over the past few months intelligence has shown that Iran is closer than ever to obtaining a nuclear weapon," IDF Spokesperson BG Effie Defrin said in a video statement following the strike. "This morning the IDF began preemptive and precise strikes, targeting the Iranian nuclear program." US Secretary of State Marco Rubio said Israel took "unilateral action," saying the US was not involved in the strikes and warning Iran against targeting US interests and personnel. Iran is the third-largest oil producer within the Organization of the Petroleum Exporting Countries (OPEC), trailing only Saudi Arabia and Iraq, with output exceeding 3 million barrels per day. 'The most immediate risk is to Iranian exports, which could drop sharply from the current 1.6 to 1.8 million barrels per day if maximum pressure tactics escalate or broader disruptions occur,' Rebecca Babin, U.S. senior energy trader at CIBC Private Wealth, told Yahoo Finance Thursday night. 'There's also the possibility—though still uncertain—of direct supply losses if Israel targets Iranian oil infrastructure,' she added. It remains unclear how Iran might retaliate or whether the conflict could spill over into the broader region. 'We can probably expect a temporary slowdown in oil tanker traffic through the Strait of Hormuz,' said Ed Hirs, senior fellow at the University of Houston, in an interview with Yahoo Finance. Tehran has repeatedly threatened to block the strait, a vital chokepoint through which as many as 20 million barrels of oil pass each day. On Wednesday afternoon, crude futures surged more than 4% after the U.S. ordered the evacuation of non-essential embassy personnel from Iraq, amid rising regional threats. Supply concerns also mounted this week after President Trump indicated during a podcast that he's increasingly doubtful Washington will reach a nuclear deal with Iran, as recent talks have stalled. "I don't know. I did think so, and I'm getting ... less confident about it," Trump said on the program 'Pod Force One' which aired on Wednesday. Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Sign in to access your portfolio
Yahoo
16 hours ago
- Business
- Yahoo
Oil prices surge 8% as Israel strikes Iran in major escalation
Oil prices jumped over 8% Thursday night following Israel's military strikes on Iran, marking a significant escalation in the Middle East conflict. West Texas Intermediate (CL=F) rose to nearly $74 while Brent (BZ=F), the international benchmark, jumped above $75 per barrel in the aftermath of the attack. Israel said it conducted what it called "preemptive and precise" strikes against Iran, citing fears over development of nuclear weapons in Tehran. "Over the past few months intelligence has shown that Iran is closer than ever to obtaining a nuclear weapon," IDF Spokesperson BG Effie Defrin said in a video statement following the strike. "This morning the IDF began preemptive and precise strikes, targeting the Iranian nuclear program." US Secretary of State Marco Rubio said Israel took "unilateral action," saying the US was not involved in the strikes and warning Iran against targeting US interests and personnel. Iran is the third-largest oil producer within the Organization of the Petroleum Exporting Countries (OPEC), trailing only Saudi Arabia and Iraq, with output exceeding 3 million barrels per day. 'The most immediate risk is to Iranian exports, which could drop sharply from the current 1.6 to 1.8 million barrels per day if maximum pressure tactics escalate or broader disruptions occur,' Rebecca Babin, U.S. senior energy trader at CIBC Private Wealth, told Yahoo Finance Thursday night. 'There's also the possibility—though still uncertain—of direct supply losses if Israel targets Iranian oil infrastructure,' she added. It remains unclear how Iran might retaliate or whether the conflict could spill over into the broader region. 'We can probably expect a temporary slowdown in oil tanker traffic through the Strait of Hormuz,' said Ed Hirs, senior fellow at the University of Houston, in an interview with Yahoo Finance. Tehran has repeatedly threatened to block the strait, a vital chokepoint through which as many as 20 million barrels of oil pass each day. On Wednesday afternoon, crude futures surged more than 4% after the U.S. ordered the evacuation of non-essential embassy personnel from Iraq, amid rising regional threats. Supply concerns also mounted this week after President Trump indicated during a podcast that he's increasingly doubtful Washington will reach a nuclear deal with Iran, as recent talks have stalled. "I don't know. I did think so, and I'm getting ... less confident about it," Trump said on the program 'Pod Force One' which aired on Wednesday. Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16 hours ago
- Business
- Yahoo
Oil prices surge 8% as Israel strikes Iran in major escalation
Oil prices jumped over 8% Thursday night following Israel's military strikes on Iran, marking a significant escalation in the Middle East conflict. West Texas Intermediate (CL=F) rose to nearly $74 while Brent (BZ=F), the international benchmark, jumped above $75 per barrel in the aftermath of the attack. Israel said it conducted what it called "preemptive and precise" strikes against Iran, citing fears over development of nuclear weapons in Tehran. "Over the past few months intelligence has shown that Iran is closer than ever to obtaining a nuclear weapon," IDF Spokesperson BG Effie Defrin said in a video statement following the strike. "This morning the IDF began preemptive and precise strikes, targeting the Iranian nuclear program." US Secretary of State Marco Rubio said Israel took "unilateral action," saying the US was not involved in the strikes and warning Iran against targeting US interests and personnel. Iran is the third-largest oil producer within the Organization of the Petroleum Exporting Countries (OPEC), trailing only Saudi Arabia and Iraq, with output exceeding 3 million barrels per day. 'The most immediate risk is to Iranian exports, which could drop sharply from the current 1.6 to 1.8 million barrels per day if maximum pressure tactics escalate or broader disruptions occur,' Rebecca Babin, U.S. senior energy trader at CIBC Private Wealth, told Yahoo Finance Thursday night. 'There's also the possibility—though still uncertain—of direct supply losses if Israel targets Iranian oil infrastructure,' she added. It remains unclear how Iran might retaliate or whether the conflict could spill over into the broader region. 'We can probably expect a temporary slowdown in oil tanker traffic through the Strait of Hormuz,' said Ed Hirs, senior fellow at the University of Houston, in an interview with Yahoo Finance. Tehran has repeatedly threatened to block the strait, a vital chokepoint through which as many as 20 million barrels of oil pass each day. On Wednesday afternoon, crude futures surged more than 4% after the U.S. ordered the evacuation of non-essential embassy personnel from Iraq, amid rising regional threats. Supply concerns also mounted this week after President Trump indicated during a podcast that he's increasingly doubtful Washington will reach a nuclear deal with Iran, as recent talks have stalled. "I don't know. I did think so, and I'm getting ... less confident about it," Trump said on the program 'Pod Force One' which aired on Wednesday. Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Melden Sie sich an, um Ihr Portfolio aufzurufen.
Mint
a day ago
- Politics
- Mint
Israel prepares to strike Iran alone as US-Iran talks falter amid uranium enrichment standoff: Report
Israel is considering a military strike against Iran's nuclear facilities without US support, according to an NBC News report citing five individuals familiar with the matter. This has gained urgency as diplomatic talks between the United States and Iran appear to be moving toward a preliminary agreement that includes uranium enrichment provisions Israel deems unacceptable. Officials said Israeli leadership views the emerging framework as falling short of preventing Iran from becoming a nuclear state. Israel has issued a stern warning to the international community over Iran's nuclear ambitions, calling Tehran's actions a breach of its global commitments. In a statement posted on X, the Israeli foreign ministry said: 'Iran has consistently obstructed IAEA's verification and monitoring, it removed inspectors, and it sanitised and concealed suspected undeclared locations in Iran.' It added: 'These actions undermine the global non-proliferation regime and pose an imminent threat to regional and international security and stability.' 'The international community must respond decisively to Iran's non-compliance and take measures to prevent Iran from developing nuclear weapons.' Israeli officials reportedly believe that if a deal is finalised, it could constrain any future military options and increase Iran's international legitimacy. This concern is driving the urgency behind potential unilateral action. In response, Iran has launched military drills 'with a focus on enemy movements' and issued multiple threats of retaliation if attacked by Israel or the US. Iran's Defence Minister Aziz Nasirzadeh warned: 'All its [US] bases are within our reach, we have access to them, and without hesitation we will target all of them in the host countries.' 'God willing, things won't reach that point, and the talks will succeed,' he added, while warning that 'the US will suffer more losses' if war breaks out. Revolutionary Guards Commander General Hossein Salami also sounded an alarm: 'Iran's retaliation to any Israeli aggression will be more forceful and destructive than in past offensives.' US President Donald Trump, who is reportedly engaged in advanced discussions with Iran about a possible nuclear agreement, has voiced growing frustration with Iran's negotiating stance. He has warned publicly that Iran 'can't have a nuclear weapon,' emphasising that he is now 'less confident' about diplomacy succeeding. Trump has proposed a framework to limit Iran's nuclear capabilities but acknowledged Tehran has grown more hardline, making a resolution uncertain. On the podcast Pod Force One, Trump admitted he's 'less confident' about reaching a new deal with Iran. 'They seem to be delaying, and I think that's a shame,' he said. 'If they don't make a deal, they're not going to have a nuclear weapon. If they do make a deal, they're not going to have a nuclear weapon. So it's not going to matter from that standpoint.' Still, he added, 'It would be nicer to do it without warfare... but we'll see. Time will tell.' The latest developments come just as the International Atomic Energy Agency (IAEA) board of governors passed a draft resolution finding Iran in non-compliance with its international nuclear commitments — a first in 20 years. The board, which includes the US as a member, renewed demands for Iran to explain uranium traces found at undeclared nuclear sites. The resolution urges Tehran to cooperate with the long-running investigation 'without delay.'
Mint
a day ago
- Politics
- Mint
‘No nukes': Donald Trump draws red line on Iran as US evacuates middle east staff amid Israel strike fears
Amid soaring tensions in the Middle East, President Donald Trump has issued a stern warning to Iran, stating unequivocally that Tehran 'can't have a nuclear weapon.' His comments come as the United States begins evacuating non-essential staff from its embassy in Baghdad, citing security risks following a report of a possible Israeli attack on Iran. 'They can't have a nuclear weapon. Very simple – they can't have a nuclear weapon,' Trump told reporters at the Kennedy Center on Wednesday (June 11), while confirming that US personnel were being 'moved out' of vulnerable parts of the Middle East. Trump said the region had become increasingly dangerous, with growing fears that Iran could retaliate if Israel launches a military strike. 'Well, they are being moved out because it could be a dangerous place,' Trump said. 'We've given notice to move out. We'll see what happens.' The US Embassy in Jerusalem has also restricted staff movement, citing 'increased regional tensions,' limiting travel to Tel Aviv, Jerusalem, and Be'er Sheva. Trump's frustration with Iran's slow response to ongoing diplomatic talks was evident in his remarks to journalist Miranda Devine on her new podcast, Pod Force One. 'I don't know,' Trump said when asked if he still believed a deal was possible. 'I did think so, and I'm getting more and more — less confident about it.' 'They're not going to have a nuclear weapon,' Trump added. 'It would be nicer to do it without warfare… but we'll see. Time will tell.' Despite faltering progress, US-Iran nuclear talks are expected to resume in Muscat, Oman, this Sunday (June 15). Iranian Deputy Foreign Minister Majid Takht-Ravanchi said Tehran is preparing a new proposal that 'can be used as a basis for work.' Iranian Foreign Minister Bad Albusaidi said an agreement ensuring the peaceful nature of Iran's nuclear program is 'within reach.' Meanwhile, the International Atomic Energy Agency (IAEA) board has formally found Iran in violation of its nuclear obligations for the first time in 20 years. The censure accuses Iran of concealing undeclared nuclear sites and obstructing inspections. 'Iran has consistently obstructed IAEA's verification… and concealed suspected undeclared locations,' Israel's foreign ministry said, calling on the international community to 'respond decisively.' In response, Iran announced it will open a new uranium enrichment site in a 'secure location' and has begun military drills 'focused on enemy movements.' Iranian Defence Minister Aziz Nasirzadeh warned that all US bases in the region would be 'within reach' in the event of conflict. 'If a conflict is imposed on us… we will target all US bases in host countries,' Nasirzadeh said. 'God willing, things won't reach that point, and the talks will succeed.' According to NBC News, Israel is weighing a unilateral military strike on Iran's nuclear facilities, even without US backing. Officials reportedly fear that any US-Iran agreement allowing uranium enrichment would be unacceptable.
