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Shrinking Oil Inventories Raise Fears of Prolonged Energy Crisis

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https://oilprice.com/Energy/Crude-Oil/Shrinking-Oil-Inventories-Raise-Fears-of-Prolonged-Energy-Crisis.html

  • Global oil inventories are rapidly approaching “minimum operational levels,” with Asia already facing acute shortages.
  • Analysts warn record inventory drawdowns, collapsing Hormuz exports, and rising summer fuel demand are tightening markets far faster than expected.
  • Energy experts caution that prolonged underinvestment in new oil supply and continued disruptions in the Strait of Hormuz could trigger sustained high prices.

…

Carlyle’s Currie had an even grimmer message for the U.S. government. “Every day that goes by, Iran’s negotiating leverage compounds. Why? Because inventories of oil … continue to drop,” he said, as quoted by CNBC. “The minute you think you won, that’s exactly when you know you probably lost, and their negotiating position at this point has never been stronger in the last 47 years.”

Some analysts are warning that once the full extent of the supply shortage becomes felt, prices will rise and stay high, likely for years. The reason, in addition to the immediate crunch of Middle Eastern supply, is a prolonged period of underinvestment in new supply from other parts of the world—something that OPEC+ has been warning about for at least three years now, to no avail. With estimates that it would take at least a month before Hormuz reopens, even with a peace deal in place, the prospect of an oil shortage in Europe has become all but a certainty, and the U.S. will likely see higher gas prices.

By Irina Slav for Oilprice.com

https://oilprice.com/Energy/Crude-Oil/Shrinking-Oil-Inventories-Raise-Fears-of-Prolonged-Energy-Crisis.html

Continue ReadingShrinking Oil Inventories Raise Fears of Prolonged Energy Crisis

13% energy price hike makes ‘workers pay for Trump’s war’

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https://morningstaronline.co.uk/article/13-energy-price-hike-makes-workers-pay-trumps-war

 Go further, faster: Paul Nowak

HOUSEHOLDS must not bear the brunt of US President Donald Trump’s illegal war, campaigners warned today, as energy bills are set to rise by 13 per cent.  

Ofgem’s new price cap from July 1 will see the typical household face an annual energy cost of £1,862 — up £221 on current levels, or £18 a month. 

The regulator said higher wholesale gas prices, “driven by ongoing conflict in the Middle East,” were behind the increase. 

Energy costs have soared since the US and Israel began their war on Iran and the subsequent blocking of the Strait of Hormuz.

Calls have mounted for the government to set out action to support the most vulnerable with bills, but Chancellor Rachel Reeves has refused any immediate energy measures in her cost-of-living plan. 

TUC general secretary Paul Nowak said the government must “go further and faster to protect households from punishing energy price rises in the coming months.”

“Households must not bear the brunt of costs from Trump’s illegal war,” he said.

“Painful energy price rises are coming down the track — and working people are already feeling the pinch with fuel costs rising because of Trumpflation.

…

Eva Watkinson of Debt Justice called it a “scandal” that the cap was rising while energy companies continued to post enormous profits, saying the government must “immediately act to write off debts that have built up during the cost-of-living crisis.”

Green MP Hannah Spencer demanded immediate government intervention, telling Ms Reeves to freeze the cap before bills go up. 

“And if she’s wondering how to pay for it, there are some people doing very well out of this crisis,” she said. 

“The government should start by taxing 100 per cent of the huge windfall profits oil and gas giants have made since the start of the illegal war on Iran.”

https://morningstaronline.co.uk/article/13-energy-price-hike-makes-workers-pay-trumps-war

Keir Starmer explains that UK is actively supporting Israel's genocidal expansion and repeats his previous quotation that he supports Zionism "without qualification". Keir Starmer said “I said it loud and clear – and meant it – that I support Zionism without qualification.” here: https://www.jewishnews.co.uk/keir-starmer-interview-i-will-work-to-eradicate-antisemitism-from-day-one/
Keir Starmer explains that UK is actively supporting Israel’s genocidal expansion and repeats his previous quotation that he supports Zionism “without qualification”. Keir Starmer said “I said it loud and clear – and meant it – that I support Zionism without qualification.” here: https://www.jewishnews.co.uk/keir-starmer-interview-i-will-work-to-eradicate-antisemitism-from-day-one/
Continue Reading13% energy price hike makes ‘workers pay for Trump’s war’

Iran’s Islamic Revolutionary Guard Corps says it targeted US airbase in Kuwait

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Smoke rises after an Iranian drone attack struck fuel tanks at Kuwait International Airport in Kuwait City, Kuwait on April 01, 2026. [Stringer – Anadolu Agency]

Iran’s Islamic Revolutionary Guard Corps (IRGC) said early Thursday that it targeted a US airbase in Kuwait in response to an American aerial strike near Bandar Abbas Airport in southern Iran, Anadolu reports.

According to Iran’s semi-official Tasnim News Agency, the IRGC said the retaliatory strike came at 4.50 am (0120GMT), hours after what it described as a US assault on a point near the port city’s airport using aerial projectiles.

“This response is a serious warning so that the enemy knows that aggression will not go unanswered, and if repeated, our response will be more decisive,” it said.

Later, the US Central Command (CENTCOM) said Thursday through US social media company X that Iran launched “a ballistic missile toward Kuwait” at 10.17 pm ET (0217GMT) on Wednesday, and that the missile was “successfully intercepted by Kuwaiti forces.”

CENTCOM described the launch as an “egregious ceasefire violation by the Iranian regime.”

It also said Iranian forces earlier launched “five one-way attack drones that posed a clear threat in and near the Strait of Hormuz,” adding that all were intercepted by US forces.

The command further said US forces “prevented a sixth drone launch from an Iranian ground control site in Bandar Abbas.”

Earlier in the day, a US official told Anadolu that US forces shot down four Iranian drones that posed a threat near the Strait of Hormuz and struck an Iranian ground control station in Bandar Abbas that was preparing to launch a fifth drone.

“These actions were measured, purely defensive, and intended to maintain the ceasefire,” said the official, who spoke on condition of anonymity.

CENTCOM said US forces and regional partners “remain vigilant and measured” as they continue defending “forces and interests from unjustified Iranian aggression.”

READ: Kuwait sends IRGC-linked suspects to court over ‘illegal entry’

The latest strikes came after CENTCOM earlier this week confirmed a previous round of strikes on southern Iran targeting missile launch sites and Iranian boats allegedly attempting to lay mines. Iran condemned those strikes as a “grave violation of the ceasefire.”

Earlier, commenting on the state of the negotiations to end the war on Iran, US President Donald Trump said he is “not satisfied with it, but we will be. Either that, or we’ll have to just finish the job.”

Regional tensions escalated on Feb. 28, when the US and Israel launched attacks on Iran, prompting Tehran to retaliate with barrages of drones and missiles that hit targets across the region and to close the Strait of Hormuz.

A ceasefire took effect on April 8 through Pakistani mediation, but talks in Islamabad failed to produce a lasting agreement.

Trump later extended the truce indefinitely while maintaining a blockade on vessels traveling to or from Iranian ports through the strategic waterway and periodically saying a peace deal was close.

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Keir Starmer explains that UK is actively supporting Israel's genocidal expansion and repeats his previous quotation that he supports Zionism "without qualification". Keir Starmer said “I said it loud and clear – and meant it – that I support Zionism without qualification.” here: https://www.jewishnews.co.uk/keir-starmer-interview-i-will-work-to-eradicate-antisemitism-from-day-one/
Keir Starmer explains that UK is actively supporting Israel’s genocidal expansion and repeats his previous quotation that he supports Zionism “without qualification”. Keir Starmer said “I said it loud and clear – and meant it – that I support Zionism without qualification.” here: https://www.jewishnews.co.uk/keir-starmer-interview-i-will-work-to-eradicate-antisemitism-from-day-one/
Donald Trump sings and dances, says that it's fun to kill everyone ...
Donald Trump sings and dances, says that it’s fun to kill everyone …
Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.
Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.

Continue ReadingIran’s Islamic Revolutionary Guard Corps says it targeted US airbase in Kuwait

US intelligence believes Iran quickly rebuilt military industrial base, producing drones: Report

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Members of the Islamic Revolutionary Guard Corps (IRGC) participate in a military exercise aimed at “increasing combat capabilities” in Tehran province, Iran, on May 12, 2026. [Islamic Revolutionary Guard Corps – Anadolu Agency]

US intelligence believes that Iran resumed parts of its drone production during the six-week ceasefire with Washington that started in early April, signaling a rapid recovery of some military capabilities damaged by US-Israeli strikes, CNN reported Thursday.

Intelligence assessments suggest Iran’s military is rebuilding far more quickly than expected, said the report, which cited US intelligence officials.

The effort includes restoring missile sites, launch systems and manufacturing capacity for critical weapons that were damaged or destroyed during the conflict.

Officials reportedly warned that the rapid recovery means Iran could still pose a major threat to regional allies if US President Donald Trump decides to resume military operations.

READ: Iranian parliament speaker warns of “strong response” to any new US attack

The assessments also raised doubts about how severely US-Israeli strikes weakened Iran’s military in the long term.

One official said that some intelligence estimates indicate Iran could restore its drone strike capabilities within six months.

“The Iranians have exceeded all timelines the IC (intelligence community) had for reconstitution,” said the official.

Sources reportedly said Iran’s unexpectedly fast recovery is being driven by several factors, including assistance from Russia and China, as well as the possibility that US and Israeli attacks caused less damage than initially anticipated.

Regional tensions have escalated since the US and Israel launched strikes against Iran on Feb. 28. Tehran retaliated with strikes targeting Israel as well as US allies in the Gulf, along with the closure of the Strait of Hormuz.

A ceasefire took effect April 8 through Pakistani mediation, but talks in Islamabad failed to produce a lasting agreement. Trump later extended the truce indefinitely while maintaining a blockade on vessels traveling to or from Iranian ports through the Strait of Hormuz.

READ: France rejects any possible NATO role in Strait of Hormuz

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Keir Starmer explains that UK is actively supporting Israel's genocidal expansion and repeats his previous quotation that he supports Zionism "without qualification". Keir Starmer said “I said it loud and clear – and meant it – that I support Zionism without qualification.” here: https://www.jewishnews.co.uk/keir-starmer-interview-i-will-work-to-eradicate-antisemitism-from-day-one/
Keir Starmer explains that UK is actively supporting Israel’s genocidal expansion and repeats his previous quotation that he supports Zionism “without qualification”. Keir Starmer said “I said it loud and clear – and meant it – that I support Zionism without qualification.” here: https://www.jewishnews.co.uk/keir-starmer-interview-i-will-work-to-eradicate-antisemitism-from-day-one/

Donald Trump calls for help from NATO allies in securing the Strait of Hormuz despite saying on 7 March 2026 that they don't need people to join wars after they've already won. He's challenged with the claim that he lies as much as the IDF.
Donald Trump calls for help from NATO allies in securing the Strait of Hormuz despite saying on 7 March 2026 that they don’t need people to join wars after they’ve already won. He’s challenged with the claim that he lies as much as the IDF.
Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.
Orcas discuss how Trump was re-elected and him being an obviously insane, xenophobic Fascist.

Continue ReadingUS intelligence believes Iran quickly rebuilt military industrial base, producing drones: Report

Iran warns renewed attack by US and Israel could expand conflict beyond region

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Members of the Islamic Revolutionary Guard Corps (IRGC) participate in a military exercise aimed at “increasing combat capabilities” in Tehran province, Iran, on May 12, 2026. [Islamic Revolutionary Guard Corps – Anadolu Agency]

Iran’s Islamic Revolutionary Guard Corps warned on Wednesday that any renewed attack by the US and Israel could trigger a broader conflict extending beyond the region.

In a statement carried by Tasnim news agency, the IRGC said the US and Israel had failed to learn from what it described as repeated strategic defeats against Iran.

The force claimed that despite attacks carried out using “the full capabilities of the world’s two most expensive armies,” Iran had not yet used all of its capabilities against its adversaries.

“If aggression against Iran is repeated, the regional war that had been promised will this time spread beyond the region,” the statement said.

The IRGC also warned of “crushing blows” in places “you cannot imagine.”

“We are men of war, and you will see our power on the battlefield, not in empty statements and virtual pages,” the statement added.

US President Donald Trump on Monday said he postponed an attack on Iran at the request of Gulf leaders.

Pakistan has said it is working to revive the stalled diplomacy between Iran and the US, following the April 8 ceasefire agreement.

OPINION: As Trump Met Xi, China Was Already Sailing Under Iran’s Rules

This work by Middle East Monitor is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License. 

Keir Starmer explains that UK is actively supporting Israel's genocidal expansion and repeats his previous quotation that he supports Zionism "without qualification". Keir Starmer said “I said it loud and clear – and meant it – that I support Zionism without qualification.” here: https://www.jewishnews.co.uk/keir-starmer-interview-i-will-work-to-eradicate-antisemitism-from-day-one/
Keir Starmer explains that UK is actively supporting Israel’s genocidal expansion and repeats his previous quotation that he supports Zionism “without qualification”. Keir Starmer said “I said it loud and clear – and meant it – that I support Zionism without qualification.” here: https://www.jewishnews.co.uk/keir-starmer-interview-i-will-work-to-eradicate-antisemitism-from-day-one/

Keir Starmer objects to criticism of the IDF. He asks how could anyone object to them starving people to death, forced marches like the Nazis did, bombing Gaza's hospitals and universities, mass-murdering journalists, healthworkers and starving people queuing for food, killing and raping prisoners and murdering children. He calls for people to stop obstructing his genocide for Israel.
Keir Starmer objects to criticism of the IDF. He asks how could anyone object to them starving people to death, forced marches like the Nazis did, bombing Gaza’s hospitals and universities, mass-murdering journalists, healthworkers and starving people queuing for food, killing and raping prisoners and murdering children. He calls for people to stop obstructing his genocide for Israel.
Orcas discuss Donald Trump and the killer apes' concept of democracy. Front Orca warns that Trump is crashing his country's economy and that everything he does he does for the fantastically wealthy.
Orcas discuss Donald Trump and the killer apes’ concept of democracy. Front Orca warns that Trump is crashing his country’s economy and that everything he does he does for the fantastically wealthy.
Continue ReadingIran warns renewed attack by US and Israel could expand conflict beyond region