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Threats of Suez closure affect oil prices (gas pipelines blown up)

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Author Topic: Threats of Suez closure affect oil prices (gas pipelines blown up)  (Read 623 times)
Lisa
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« on: February 05, 2011, 07:18:28 am »

Oil breaks through $103 on Egyptian crisis

Feb 3 01:37 AM US/Eastern

World oil prices extended their gains in Asian trade Thursday after the political crisis in Egypt erupted into violence.

At least two people were killed and many were wounded overnight in gunfire aimed at protesters in central Cairo demanding the ouster of President Hosni Mubarak, according to witnesses.

The market has been jittery following more than a week of anti-government protests in Egypt due to fears the crisis could spill over to other countries in the crude-rich but politically volatile Middle East.

Brent North Sea crude for March soared 88 cents to 103.22 in afternoon Asian trade.

New York's main futures contract, light sweet crude for March, climbed 65 cents to $91.51.

Ken Hasegawa, energy desk manager at Newedge brokerage in Tokyo, said the violent clashes in Egypt prompted investors to buy oil amid expectations prices could rise further.

"The latest news from Egypt triggered short-covering and fresh buying from funds," Hasegawa told AFP, adding he expects Brent crude to reach $105.

"So far there is no factor to prompt traders to sell. We don't see any sellout in the market at the moment."

He said the spread in the price between Brent crude and the benchmark New York contract is likely to widen further because of oversupply in the US port of Cushing in Oklahoma.

"The unfolding of the situation in Egypt has injected a burst of volatility and uncertainty into oil markets," Barclays Capital analysts said in a client note.

While Egypt is not a major crude producer, the country is home to the Suez Canal, which carries about 2.4 million barrels daily, roughly equal to Iraq's output.

Since the outbreak of unrest in Egypt more than a week ago, oil prices have risen on fears of disruption to the artificial waterway that links the Mediterranean and the Red seas.

"The situation introduces risks and uncertainties that are likely to be highly significant in terms of the broader political evolution of the region," analysts at Barclays Capital said.

Oil prices were climbing despite data showing weak demand in the United States, the world's biggest oil consumer.

The latest weekly stockpiles report from the US Department of Energy showed reserves had increased sharply for the third week in a row.

Crude oil stocks rose 2.6 million barrels to 343.2 million in the week ending January 28, in line with expectations.

At the almost-full depot at Cushing reserves rose 600,000 barrels to 38.3 million.

 

 

« Last Edit: February 05, 2011, 07:56:34 am by Lisa » Report Spam   Logged

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Lisa
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« Reply #1 on: February 05, 2011, 07:55:47 am »

http://news.yahoo.com/s/ap/20110205/ap_on_bi_ge/ml_egypt_pipeline_explosion_9
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« Reply #2 on: February 05, 2011, 10:50:48 am »

Saboteurs attack Egypt gas pipeline to Jordan

Unknown saboteurs attacked an Egyptian pipeline supplying gas to Jordan, forcing authorities to switch off gas supply from a twin pipeline to Israel, an official told AFP.

The attackers used explosives against the pipeline in the town of Lihfen in northern Sinai, near the Gaza Strip, the official said. It was initially thought the pipeline to Israel was attacked.

"The pipeline to Jordan has been attacked and the supply to Israel has been cut off," the official said.

http://news.yahoo.com/s/afp/20110205/wl_mideast_afp/egyptpoliticsunrestgasisrael_20110205123242
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Lisa
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« Reply #3 on: February 06, 2011, 04:00:28 am »

Egypt increases security along Suez Canal
By JPOST.COM STAFF 
02/06/2011 10:41

 
Egyptian security forces began taking extra precautions against terror attacks along the Suez Canal in the wake of political unrest in Egypt, Al-Ahram reported on Sunday.

The newspaper quoted Egyptian security sources as saying they received information that large numbers of Hizbullah and Hamas operatives intended to infiltrate Egypt in order to commit acts of sabotage.

The source added that security forces were tightening inspection procedures on the Suez Canal ferry and closing down a bridge across the waterway.

According to the report, the explosion at a gas terminal in El-Arish on Saturday contributed to the increased state of alert. Gas company officials said that the explosion was caused by a gas leak, contradicting earlier reports that the incident was a terrorist attack.
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Lisa
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« Reply #4 on: February 06, 2011, 04:25:11 am »

Israel can meet electricity needs without Egypt gas, ministers say
Pipeline explosion in Sinai halts supply around region.
By Avi Bar-Eli Israel has various ways to produce electricity if it lacks Egyptian gas, government officials and the power utility said yesterday.

At around 8 A.M. yesterday, an explosion shook the measuring station along the pipeline supplying Jordan and Syria. That pipeline is 20 to 30 kilometers from the pipeline to Israel. The fire was extinguished in the afternoon.

  Flames arising from the pipeline in northern Sinai yesterday.
 
Photo by: AFP 
As a result, the Egyptian gas company E-gas closed the pipelines in the area, including the one to Israel. Israel's supplier, the EMG Group, told the Infrastructure Ministry and the Israel Electric Corporation that the pipeline was closed.

The Infrastructure Ministry instructed the IEC to negotiate with EMG's competitor the Tethys Sea group about increasing the gas supply from that reserve. The dwindling Tethys Sea reserve, off the Ashkelon coast, is owned by the Delek Group and Noble Energy.

Because electricity demand is relatively low over the weekend, the gas outage did not affect power supply, and the IEC was not forced to make an emergency purchase from Tethys Sea.

The IEC was preparing gas turbines yesterday to use diesel fuel.

The Merhav Group, the Israeli partner in EMG, said the explosion damaged Egypt's gas network nationwide, and that the gas supply to Israel would be down for up to a week so the pipeline could cool off.

The line to Israel was not attacked, contrary to earlier reports, said Merhav. Prime Minister Benjamin Netanyahu met with National Infrastructure Minister Uzi Landau and security officials yesterday morning. He announced afterward that Israel was prepared should the Egyptian gas supply be cut off, and that it had alternatives.

The IEC also said it was prepared for interruptions in the gas supply.

This isn't the first time the Egyptian gas supply has been cut, but yesterday's outage had a particularly strong impact due to the political instability shaking Israel's southern neighbor.

EMG currently supplies Israel with 2.2 billion cubic meters of gas a year; a large majority goes to IEC power plants. The remaining 100 million cubic meters goes to private factories.

All told, EMG supplies 43% of the IEC's natural gas and accounts for a little less than one-fifth of the country's electricity production.

If the Egyptian gas supply doesn't resume by this morning, the IEC has three options. It can increase electricity production at coal-fired power plants, it can start producing electricity from gas turbines fitted to run on diesel fuel, or it can use mazut, a diesel precursor.

EMG recently signed supply contracts with several Israel Corporation companies to supply 22 billion cubic meters of gas over 20 years. It also plans to supply private power plants, including the Dorad plant being built in Ashkelon and several by the Edeltech Group, as well as other private customers. These deals would increase its total export volume to Israel to 5 billion cubic meters a year.

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Lisa
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« Reply #5 on: February 06, 2011, 04:29:06 am »

Some historical back-ground

http://en.wikipedia.org/wiki/Suez_Crisis
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Lisa
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« Reply #6 on: February 12, 2011, 08:43:46 am »

Gas Pipeline Explosion Determined to be Terrorist Attack  ICEJ News   Feb 8th
An Egyptian security team investigating an explosion Saturday which disrupted the flow of natural gas from Egypt's northern Sinai terminal to Israel and Jordan has announced that the incident was definitely a terrorist attack and not an accident. The commander of the investigative team told the Associated Press that four saboteurs were responsible for planting the explosives which destroyed a section of the pipeline after Islamist groups called on fellow travelers in Egypt to take advantage of the chaos to launch attacks. "Saboteurs took advantage of the security situation and blew up the gas pipeline," a state television correspondent said. Israel buys around 40% of its natural gas supplies from Egypt as part of the 1979 peace agreement. 
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« Reply #7 on: February 21, 2011, 10:49:41 am »

http://www.jpost.com/MiddleEast/Article.aspx?id=209196

2 Iranian warships close to southern Suez Canal entrance
By JPOST.COM STAFF AND ASSOCIATED PRESS 
02/21/2011 14:57

Canal officials say 2 naval vessels expected to start transit of strategic waterway in next 24 hours; ships expected to pay $290,000 fee.

CAIRO — Suez Canal officials said Monday that two Iranian naval vessels were expected to start their passage through the strategic waterway early Tuesday.

The ships, a frigate and a supply vessel, are close to the southern entrance of the canal, the Canal officials said.

The ships are expected to pay a fee of $290,000 for the crossing, the officials said. They spoke on condition of anonymity because they are not authorized to speak publicly about the matter.

The two vessels are headed to Syria for a training mission.

If the ships make the passage, it would mark the first time in three decades that Iranian military ships have traveled the canal that links the Red Sea to the Mediterranean.

Foreign Minister Avigdor Lieberman made clear last week that Israel views the passage as a provocation.
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« Reply #8 on: February 21, 2011, 01:43:45 pm »

http://www.israelnationalnews.com/News/news.aspx/138164

US, Israel Warships in Suez May Be Prelude to Faceoff with Iran

Egypt allowed at least one Israeli and 11 American warships to pass through the Suez Canal as an Iranian flotilla approaches Gaza. Egypt closed the canal to protect the ships with thousands of soldiers, according to the British-based Arabic language newspaper Al Quds al-Arabi.

One day prior to the report on Saturday, Voice of Israel government radio reported that the Egyptian government denied an Israeli request not to allow the Iranian flotilla to use the Suez Canal to reach Gaza, in violation of the Israeli sea embargo on the Hamas-controlled area.

International agreements require Egypt to keep the Suez open even for warships, but the armada, led by the USS Truman with 5,000 sailors and marines, was the largest in years. Egypt closed the canal to fishing and other boats as the armada moved through the strategic passageway that connects the Red and Mediterranean Seas.

Despite Egypt’s reported refusal to block the canal to Iranian boats, the clearance for the American-Israeli fleet may be a warning to Iran it may face military opposition if the Iranian Red Crescent ship continues on course to Gaza.

The warships may exercise the right to inspect the Iranian boat for the illegal transport or weapons. Newsweek reported that Egyptian authorities could stop the ship for weeks, using technicalities such as requiring that any official documents be translated from Farsi into Arabic. 

The magazine’s website also reported that the Iranian navy is the weakest part of its armed forces. Tehran has already backed down from announced intentions to escort the Iranian ships with "volunteer marines” from the Iranian Revolutionary Guards.

The Iranian news site Hamsayeh.net reported, “The move might be in connection to U.S. self-inflicted embargo against Iran aimed at inspecting Iran bound ships for suspected goods related to the country’s nuclear program.”

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« Reply #9 on: February 21, 2011, 01:47:54 pm »

Eh-maybe this deserves a sticky?

Guess what, "Iran warships" #8 in Yahoo's top 10 tracker-

http://news.search.yahoo.com/search?cs=bz&p=Iran+warships&fr=fp-tts-701-1&fr2=ps
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Kilika
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« Reply #10 on: February 22, 2011, 02:52:02 am »

"Behold, I have told you before." Matthew 24:25 (KJB)
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Lisa
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« Reply #11 on: February 22, 2011, 03:08:27 pm »

US response....

http://newsystocks.com/news/3969138

Feb. 21, 2011 (United Press International) -- A U.S. naval flotilla is massing against two Iranian warships at the entrance of the Suez (NYSE:SZEZY) Canal seeking passage through to Egypt, a U.S. spokesman says.

"It's not really about the ships. It's about what the ships are carrying, what's their destination, what's the cargo on board, where's it going, to whom and for what benefit," State Department spokesman P.J. Crowley said.

Iran's Kharg cruiser and Alvand missile destroyer are waiting to enter the Suez Canal at the southern Red Sea entrance opposite the aircraft carrier USS Enterprise, missile cruiser USS Leyte Gulf and the fast supply ship USNS Arctic, the Jerusalem-based military intelligence Web site Debkafile reported Monday.

The carrier USS Abraham Lincoln sailed from 5th Fleet headquarters in Bahrain to a point in the Iranian Gulf.

Earlier this month the carrier USS George Washington and the USS Carl Vinson were deployed to the Gulf of Aden, the Carl Vinson having been moved from the Pacific. And the carrier USS Kearsarge, with a contingent of Marines aboard, was posted along one of the canal's main routes.

The massing of American ships is seen by some as a figurative shot across Iran's bow, warning it not to make political hay of the recent unrest in the Middle East, Debkafile said.

The Tehran Times says the 33,000-ton Kharg is a refueling and support vessel and the Alvand a 1,500-ton light patrol frigate, but Debkafile alleges the Iranian ships are transporting long-range surface missiles for Hezbollah.

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Kilika
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« Reply #12 on: February 23, 2011, 01:31:01 am »

I'd take that news with a grain of salt, especially since all the news outlets say the Iranian ships have already passed through the canal. And in reports of the 4 Americans that were just killed by Somali highjackers, they said the Enterprise is already through the canal to the south.

I also would like to know how they know the locations of all those US carriers seeing that's classified info. And to move a Pacific carrier to the Atlantic theater is very unusual, if ever done.

Being ex-Navy, I know that when a carrier moves, it's group moves with it. That involves several ships, not just a carrier. And this article is saying the US has four nuclear carriers all around the Suez Canal? If that is true, then something MAJOR is up. The Navy would never put 4 carriers so close together in normal operations.

EDIT: here's the article. And having read the article, their claims puts not 4 carriers in the region of the canal, but 5 carriers(Kearsage is a Marine landing craft that is a carrier, but of helos and Harrier jump jets. It also has amphibious assault vehicle type stuff. That ship is for one thing: putting boots on the ground). I wouldn't put it past the MSM to put out false info as they have in the past.(for national security reasons no doubt!)

There seems to me a strange comment about the location of the Lincoln though, as it says "to a point opposite the Iranian gulf coast". Well, Bahrain is exactly that, opposite the Iranian gulf coast. Suspect info or translation issues. I also am not sure how exactly they are describing south and north of the canal, which is key to whether a ship is in the Mediterrainian Sea, in the canal zone, at the southern entrence to the canal zone which is the Red Sea, or in the southern part of the Red Sea. Just like in real estate, location, location...

http://debka.com/article/20692/

Quote
US warships box in Iranian flotilla, delay Suez passage
 
DEBKAfile Exclusive Report
February 21, 2011, 4:55 PM (GMT+02:00)
Tags:  Iranian warships   Suez Canal   US-Iran   USS Enterprise   USS Enterprise parked opposite Iranian flotilla at Suez Canal entrance

The repeated delays and contradictory statements about the two Iranian warships' transit of the Suez Canal to the Mediterranean is accounted for by a standoff between the Iranian flotilla and five US warships deployed in recent days at the waterway's southern entrance and along its course, debkafile's sources disclose.

Thursday night, Feb. 17, the aircraft carrier USS Enterprise, escorted by missile cruiser USS Leyte Gulf and the fast supply ship USNS Arctic, headed south through the canal. By Friday morning, they were through and taking up position opposite the Kharg cruiser and Alvand missile destroyer of the Iranian Navy's 12th Flotilla, which were waiting to enter the Suez Canal at the southern Red Sea entrance.

Furthermore, since the first week of February, the USS Kearsarge, another aircraft carrier, was posted in the Great Bitter Lake opposite Ismailia and the canal's main routes with a large contingent of marines aboard.

The USS George Washington carrier and the USS Carl Vinson were additionally deployed in the Gulf of Aden, the latter having been moved from the Pacific.

A battle of nerves is therefore underway.

The Iranian warships found themselves cheek to jowl with a major concentration of America naval might piling up in the Red Sea and Suez and were not sure what would happen if they went forward with their mission to transit the Suez Canal for the Mediterranean for the first time in 30 years on their way to Syria.

Sunday night, the Canal authorities announced another 48 hours delay shortly after Tehran state TV claimed the warships were already through to the Mediterranean.

And, finally, the USS Abraham Lincoln carrier was quietly transferred from Bahrain, headquarters of the US Fifth Fleet amid the anti-government uprising, to a point opposite the Iranian Gulf coast.

This pile-up of US naval, air and marine might at strategic points in the Middle East is a warning to meddlers to keep their hands off the revolutions, uprisings and protests sweeping Arab nations. It carries a special message for Tehran that the Obama administration will not permit the Islamic Republic's rulers to make military and political hay from the unrest - in Bahrain or anywhere else.

By positioning the Enterprise opposite Iran's 12th Flotilla at the Red Sea entrance to the Suez Canal on Feb. 17 Washington has confronted Tehran with a hard dilemma, which was practically spelled out by US State Department spokesman P.J. Crowley a day earlier: "If the ships move through the canal, we will evaluate what they actually do," he said. "It's not really about the ships. It's about what the ships are carrying, what's their destination, what's the cargo on board, where's it going, to whom and for what benefit."

This was the US spokesman's answer to the debkafile disclosure of Feb. 16 that the Kharg was carrying long-range surface missiles for Hizballah. It raised the possibility that the moment they venture to sail into the Suez Canal, the two Iranian warships will be boxed in between the Enterprise and the Kearsarge and called upon the allow their cargoes to be inspected as permitted by the last round of UN sanctions against Iran in the case of suspicious war freights.

According to debkafile's intelligence sources, the flurry of conflicting statements from Cairo and Tehran were issued to muddy the situation surrounding the Iranian flotilla and cloud Tehran's uncertainty about how to proceed.  The next date announced for their passage, Tuesday night, Feb. 22, will be a testing moment.
« Last Edit: February 23, 2011, 02:18:53 am by Kilika » Report Spam   Logged
Kilika
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« Reply #13 on: February 23, 2011, 02:12:36 am »

Found this when searching for where the "Great Bitter Lake" is...

http://modernsurvivalblog.com/current-events-economics-politics/marine-landing-force-ismailia-egypt/

Quote
Marine Landing Force, Ismailia Egypt

Based on the fact that the USS Kearsarge Expeditionary Strike Group has sped it’s way into the Suez canal, and is now waiting in Suez Canal’s ‘Great Bitter Lake’ nearby Ismailia Egypt, is telling in that it’s specific function is to carry Marine’s and equipment designed for beach landing and land deployment operations.

While the situation in Egypt continues to broil, a recent surge of anti-Mubarak protests and violence is again threatening the overthrow and coup of the Mubarak regime.

“A fresh surge of popular anti-Mubarak protest ripping across Egypt Tuesday, Feb. 8 has brought the country closer to a military coup to stem the anarchy than at any time since the street caught fire on Jan. 25.” reports debka.com.

They go on to say, “The biggest Arab country with a population of 82 million is on the verge of breakdown as large sections of it’s economic machinery are shut down by spreading strikes and workers’ revolts against managements appointed by the Mubarak regime and Vice President Omar’s Suleiman’s leadership.”



According to xinhuanet.com, “Washington has apparently shifted its stance on Egypt in recent days, with U.S. Secretary of State Hillary Clinton speaking of supporting the Egyptian government to ensure a quick and orderly power transition.”

In a phone conversation with King Abdullah of Saudi Arabia over Egypt unrest on Wednesday, U.S. President Barack Obama called for “immediate steps toward an orderly transition” in the most populous nation of the Arab world.



The question is, what are the intentions of the U.S. government and military, given that thousands of Marines are now offshore and could amphibiously launch at a moments notice…

Could this be a combat operation?

Or is it a non-combat operation, to pull out and evacuate certain people should it become necessary? (cont.)
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Kilika
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« Reply #14 on: February 23, 2011, 02:27:23 am »

I wonder what the Arab world would think once they knew they were basically surrounded by a force that could level large areas of the Middle East right now. If the US really does have that much hardware in the area from the Canal to the Gulf of Aden, that's not good for the receiving end because that's ALOT of firepower standing by.

Wonder if all this had any affect on the highjacking of the 4 Americans that were murdered. I'd really like to know what was said by all when the highjackers saw the bibles those people allegedly were carrying.
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Lisa
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« Reply #15 on: February 23, 2011, 12:26:18 pm »

My thoughts (for what they are worth).

The only things we can be certain about are whats written in the bible-I assume;
1. USA wont have a big role to play coz its not written in the bible
2. There wont be world war 3 complete zapping everywhere-coz we know thats not how its gonna be.
3. Egypt i assume will ultimately get a big revival and those muslim nutters will get a Holy Ghost blast-but probably only after a nasty (Islamic dictator) gives them the run around.
4. There will at some point be a Gog Magog invasion (are we seeing the prelude to this-watch Ethiopia and Russia)
5. A man of peace will emerge (? Assyrian) and eventually end sacrifices in a newly built Jewish temple (no idea how they are going to pull that one off).

Lisa
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