Europe starts stockpiling oil as Iran conflict looms

European governments are rushing to boost stockpiles of crude oil and fuel, anxious to comply with new EU rules and amid reports that Israel is preparing to launch an attack on Iran. Belgium and the Netherlands have issued tenders to import a total of around 250,000 tonnes of diesel and gasoline for delivery in September and October, their agencies said.

France has also bought diesel and awarded a crude oil tender this week while Belgium is increasing its crude stocks. "This is yet another unexpected source of support for oil demand… [It] shows how the geopolitical concerns about Iran and Syria are bullish for oil even in the absence of an actual supply disruption," said Seth Kleinman, head of energy research at Citi.

European governments appear to be preparing for further supply disruptions in the Middle East as tensions have mounted between Israel and Iran over Tehran's nuclear programme. Israeli media have reported that Prime Minister Benjamin Netanyahu has decided to launch an attack on Iran’s nuclear facilities in the Fall. Read more >>

Iran Attack Decision Nears, Israeli Elite Locks Down

An air-to-air view of a multinational group of fighter jets

This inner sanctum at the end of a corridor between Netanyahu's private room and the office of his top military adviser, is where one of the decade's most momentous military decisions could soon be taken: to launch an Israeli attack on Iran's nuclear program. Time for that decision is fast running out and the mood in Jerusalem is hardening.

Iran continues to enrich uranium in defiance of international pressure, saying it needs the fuel for its civilian nuclear program. The West is convinced that Tehran's real objective is to build an atomic bomb - something which the Jewish state will never accept because its leaders consider a nuclear armed-Iran a threat to its very existence. Adding to the international pressure, U.S. ambassador to Israel Daniel Shapiro said this week American military plans to strike Iran were "ready" and the option was "fully available".

The central role Iran plays in Netanyahu's deliberations is reflected in the huge map of the Middle East hanging by the door of his office. Israel lies on one edge, with Iran taking pride of place in the centre. Experts say that within a few months, much of Iran's nuclear program will have been moved deep underground beneath the Fordow mountain, making a successful military strike much more difficult. More...

Obama to meet Saudi King Abdullah at White House

Image by Ammar Abd Rabbo via Flickr

Let's see, King Abdullah at the WH followed by Netanyahu in a week. Talk of shared Arabian airspace to Israel, a build up of US and Israeli war ships in the Persian Gulf; with rumors of a pre-emtive attack on Iran by Israel circulating the web, show time looms in what may escalate to our final war. Even Fidel Castro has chimed in pronouncing an attack on Iran is imminent.

AFP via Raw Story:

President Barack Obama welcomes Saudi King Abdullah to the White House on Tuesday, as he seeks to reinvigorate his Middle East peace drive and crank up pressure on Iran over its nuclear program.

The meeting will likely also focus on US policy in Afghanistan, following the sacking of top war general Stanley McCrystal and mutual national security efforts, including the drive to combat Al-Qaeda.

Abdullah, 86, will be at the White House just a week before Obama is due to welcome Israeli Prime Minister Benjamin Netanyahu, following Israel's decision to allow some "civilian" goods into Gaza following its deadly flotilla raid.

Obama, who pushed for such a step, may try to use the Israeli move to as a spur to intensify US-brokered indirect talks between Israel and the Palestinians, as he seeks to open a direct channel between the two sides. More...