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Yemen's Iran-aligned Houthis said on Sunday that they targeted Israel in coordination with Iran, the first time an Iran-aligned group has publicly announced joint cooperation on attacks with Tehran. The Yemeni group targeted central Israel's Jaffa with several ballistic missiles in the last 24 hours, military spokesperson Yehya Sarea said in a televised address. "Triumphing for the oppressed Palestinian and Iranian peoples...This operation was coordinated with the operations carried out by the [Read more]

Gasoline production was cut back on Saturday at Marathon Petroleum's 631,000 barrel-per-day (bpd) Galveston Bay Refinery in Texas City, Texas due to a fire on the residual hydrotreater, said people familiar with plant operations. Production was cut back on the gasoline-producing 140,000 bpd fluidic catalytic cracker 3 (FCC-3) and the 115,000 cat feed hydrotreater, due to the fire, which broke out Saturday on the residual hydrotreater, the sources said. (Reporting by Erwin Seba, Editing by [Read more]

Gas production has been suspended from part of Iran's South Pars field following an Israeli attack on the site on Saturday, the semi-official Tasnim news agency reported. "Due to a fire in one of the four units of Phase 14 of South Pars, the production of 12 million cubic metres of gas from the Phase 14 platform has been temporarily halted until this section of the refinery is brought back into operation," Tasnim said. The strike had resulted in a fire which the Iranian oil ministry said was [Read more]

Russian President Vladimir Putin spoke to U.S. President Donald Trump for 50 minutes on Saturday, condemning the Israeli military operation against Iran and expressing concern about the risks of escalation, the Kremlin said. "Vladimir Putin condemned Israel's military operation against Iran and expressed serious concern about a possible escalation of the conflict, which would have unpredictable consequences for the entire situation in the Middle East," Kremlin aide Yuri Ushakov told [Read more]

The latest round of U.S.-Iran nuclear talks scheduled for Sunday in Muscat will not take place, Omani Foreign Minister Badr Albusaidi said on X on Saturday. Oman has been mediating the talks. Albusaidi's statement came a day after Israel launched a sweeping air offensive against Iran, killing commanders and scientists and bombing nuclear sites in a stated bid to stop it building an atomic weapon. A senior official of U.S. President Donald Trump's administration, speaking on condition of [Read more]

Iranian media on Saturday reported fire breaking out after Israel bombed infrastructure at the South Pars gas field in southern Bushehr province. (Reporting by Parisa Hafezi; Writing by Enas Alashray; Editing by Kevin Liffey) [Read more]

Traders on Friday exchanged the most $80 West Texas Intermediate (WTI) crude oil call options since January, expecting more upside to prices after Israeli airstrikes on Iran sparked fears of a wider Middle East conflict. Call options grant the holder a right to buy futures contract at the preset price and date, and a rise in volumes can help gauge market sentiment. About 33,411 contracts of August-2025 $80 call options for WTI crude oil were traded on Friday on a total trading volume of [Read more]

U.S. ultra-low sulfur diesel futures hit the highest level since February, outpacing gains in oil and gasoline as analysts warned that diesel supply is the most exposed to the conflict in the Middle East. Israel on Friday launched the biggest ever direct attack on Iran and said the huge wave of airstrikes was only the start of its campaign. Iran has since launched retaliatory strikes, with explosions heard over Tel Aviv and Jerusalem. Crude oil futures jumped about 7% as analysts worried [Read more]