Iran

Chomsky: Europe Bows To Its "Washington Masters" On Everything From Snowden To Iran

“There are, I think, by now four Latin American countries that offer asylum to Snowden - not one European country. In fact, they won’t even let him cross their borders. Why? Because the master in Washington tells them, ‘we don’t want him to.’ And Snowden, it’s important to recall, performed an enormous service, a patriotic service in fact, to the people of the United States and the world.

Iran Hits Saudis Where It Hurts, Offers Biggest Discount On Asian Crude Since 2007

Iran’s heavy crude, as Reuters points out, will now trade at a $0.30 discount to the Saudi Arab Medium, the widest gap since 2007. Refineries generally prefer light crude because it’s easier to process, but China’s teapots have made do with whatever crude comes their way, so they are very flexible in this respect, which is good news for Iran.

Oil "Rebalancing" In Jeopardy After Iran Output Soars To Pre-Sanction Levels, Russia "Pours Cold Water" On OPEC Forecast

The biggest non-OPEC member disagreed with OPEC's latest rosy - if only for OPEC countries - assessment, when Russia poured cold water on the notion that recent falls in production in the Americas, Asia and Africa had wiped out a global production and storage overhang.  Russian Energy Minister Alexander Novak told reporters on Thursday that the global oil surplus stood at 1.5 million bpd and that the market might not balance out until the first half of 2017.

Washington's Military Addiction (And The Ruins Still To Come)

In a Washington that seems incapable of doing anything but worshiping at the temple of the U.S. military, global policymaking has become a remarkably mindless military-first process of repetition It’s as if, as problems built up in your life, you looked in the closet marked “solutions” and the only thing you could ever see was one hulking, over-armed soldier, whom you obsessively let loose, causing yet more damage. But don’t bother to blame the politicians and national security nabobs in Washington for this.  They’re addicts.  They can’t help themselves.  What they need is rehab.  Instead, they continue to run our world.  Be suitably scared for the ruins still to come.

OPEC Politics: Russian King, Iranian Crown Prince?

Another month, another OPEC meeting beckons for 2nd June. But unlike typical meetings on the Danube (let alone dust filled haze of Doha), the producer group might just have a new King in town. It comes in the form of Russia; the number one global producer that’s not even technically a member of the cartel. Confused? Don’t be. The argument is quite simple.

Futures Halt Selloff, Levitate Higher On Another USDJPY Spike; Oil Rises

If yesterday's selloff had a specific catalyst, namely some of the worst consumer retail earnings seen in years, it merely undid the Tuesday rally which levitated global risk with no fundamental driver, aside for a 200 pip spike in the USDJPY.  Some central bankers may even say it was a "magical" levitation. Fast forward to the overnight session when following a muted Asian session, it was once again up to the "magical" USDJPY to send stocks well into the green without any actual catalyst whatsoever, but what merely appears to have been another "magical" intervention session by the BOJ.

US Senator Shocked - "Are Americans OK With White House Propaganda?"

"Washington is in the process of replacing self-evident truths with self-serving spin. This is dangerous...For no one is entitled to his or her own facts - yet this New York Times story makes clear that the executive branch feels empowered to proclaim its own narratives."

The Nuclear Arms Race Is Back: Russia Furious As US Launches European Ballistic Missile Shield

The United States' European missile defense shield goes live on Thursday almost a decade after Washington proposed protecting NATO from Iranian rockets and despite Russian warnings that the West is threatening the peace in central Europe. As a result, Reuters notes that "Russia is incensed at such of show of force by its Cold War rival in formerly communist-ruled eastern Europe where it once held sway. Moscow says the U.S.-led alliance is trying to encircle it close to the strategically important Black Sea, home to a Russian naval fleet and where NATO is also considering increasing patrols."

Shots Fired: "OPEC Has Practically Stopped Existing" - Rosneft CEO Mocks Defunct Oil Cartel

Russia is moving full steam ahead with its plan to kill the petro-dollar, and is burying OPEC's influence along with it.  As we reported earlier, Russia has taken its next step toward de-dollarization by launching its own benchmark oil futures contract that will price oil in rubles instead of USD. Now, it appears as though Russia has deemed it is time to start chipping away at OPEC and its power within the oil space.

Oil Jumps Despite Saudi Plans For "Significant Output Growth"; Kuwait Unveils Plans For Record Production Surge

Two stories that oil traders are ignoring in today's action is the latest out of Saudi Arabia where Saudi Aramco, the state oil company, announced it was raising production to capture more customers as it pushes ahead with what could be the world’s biggest stock market listing next year the FT reported earlier. Additionally, Kuwait's head of research at state-owned Kuwait Petroleum said the country aims to produc a record 4 million a barrels a day by 2020, a major increase of nearly 50% compared to its recent 2.8mmbpd output recorded in March.

Paul Craig Roberts Warns 'Killary' Will Be "The Last American President"

"The question is: will enough insouciant Americans align with the One Percent, the neocons, the men-hating feminists, homosexuals, the transgendered, and other “preferred minorities” to put the US presidency in the hands of an aggressive, corrupt person with a conscience deficit? That is the goal toward which the presstitutes are driving the brainwashed. If we end up with Killary, neither the US nor the world will survive the mistake. She will be the last American president..."

The New Normal: Cold War 2.0

We are all living in Hybrid War time. From R2P (“responsibility to protect”) to color revolutions, from currency attacks to stock market manipulations. From judicial-financial-political-media enabled “soft” coups – as in Brazil – to support for “moderate” jihadis, multiple stages of Hybrid War now cross-pollinate and generate a vortex of new mutant viruses. This is the new normal; Cold War 2.0, 24/7.