Did some analysis on where we are with the Oil shortage timeframes. For EIA data released for the week of June 5th.
▶️Cushing : ~2 weeks. If minimum is 16-18, that's extended another 2-3 weeks.
▶️Commercial Crude: ~3.5 weeks (early July) accelerated last week.
▶️SPR: ~3 months (early Sept) to hit 250mln.
Thank you for your attention to this matter.
NOW 🔴
Fars News Agency, affiliated with the IRGC: “Any speculation about signing in Switzerland or a face-to-face meeting is nothing but a mistaken understanding of American proposals and wishes.”
@Whateverbruhcba@SilverDegen@calvinfroedge Okay and then he will repeat the process next week and still push it down more.
He can do this as long as the US has ample inventories
Iranian media outlet Mehr, citing a source close to Iran’s negotiating team, published what it says are new details from a reported 14-point draft memorandum between Iran and the U.S.
According to the report, the draft includes an immediate and permanent halt to fighting on all fronts, including Lebanon; a U.S. pledge not to interfere in Iran’s internal affairs; the lifting of a maritime blockade within 30 days; and a U.S. commitment to withdraw forces from areas around Iran.
The reported draft also calls for reopening the Strait of Hormuz within 30 days under Iranian arrangements, suspending sanctions on Iranian oil, petrochemical products and related revenues, and making Iranian financial resources fully accessible.
Mehr says the draft includes 60 days of negotiations toward a final agreement covering nuclear issues, full sanctions relief, reconstruction of Iran’s economy, and the fate of enriched material and enrichment.
The report says $24 billion in frozen Iranian funds would be released during the 60-day negotiation period, with half made available before talks begin.
According to Mehr, the draft excludes Iran’s missile program and support for “resistance groups” from the agenda, and any final agreement would be endorsed through a UN Security Council resolution.
Mehr adds that the text still requires review and final approval by the relevant Iranian institutions.
@Conflict_Radar Then there will be no memorandum, how in the hell the rug pull was so strong this time is beyond me. Iran has stated, every, single, time, that an end to hostilities in Lebanon is a requirement
Trump made a spectacle about a fake deal so the SpaceX IPO could rocket, they reduced capital requirements for day trading, removed the 1 year requirement for index funds to add it to their books. You wanna bet against this?
You should join me as an oil long too then, it’s just as painful
The Prime Minister’s Office:
President Trump spoke this evening with Prime Minister Netanyahu regarding the emerging memorandum of understanding (MOU) with Iran to enter into negotiations.
Even though Israel is not a party to the memorandum of understanding, the Prime Minister expressed his appreciation for President Trump's commitment that the final agreement at the conclusion of negotiations will include the removal of enriched material, the dismantling of enrichment infrastructure, limits on missile production, and the cessation of Iran's support for its terrorist proxies in the region.
@Osinttechnical Reading all the comments here about how ‘we won’ is ridiculous. I guess it does show the game of charades does work. If Iran accepts we know unequivocally that the US surrendered all demands.