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US Oil Reserves Plunge To 40-Year Low; War On Iran Strains Supplies

August 16, 2026 News Desk, The Cradle. , , ,
US oil reserves have fallen to the lowest level in 40 years, raising fears that the underground caverns holding them could be permanently damaged as Washington struggles to manage the fallout of its ongoing war on Iran. Data released last week by the Department of Energy showed that the Strategic Petroleum Reserves (SPR) will fall to roughly 243 million barrels of oil after the current release of 172 million barrels is completed. Before the Russia-Ukraine war in 2022, the SPR held about 582 million barrels of crude oil. According to market analysts at Rapidan Energy, the fall of the SPR below 170 million barrels will cause damage to “cavern integrity and pumping infrastructure.”

Russian Oil Tanker Brings Help For Cuba

March 31, 2026 W. T. Whitney, Jr., People's World. , , ,
Streets and hospital corridors at night in Cuba are dark. Cars and buses don’t move. Cubans walk or ride bicycles. Trucks don’t arrive to remove trash, and so it burns. Offices, production units, and operating rooms are closed down. Older people and babies are dying when they shouldn’t have to. It’s been more than three months since a regularly scheduled oil tanker arrived in Cuba’s ports, with all incoming energy shipments halted since the U.S. government on Jan. 29 imposed punishing tariffs on any nation sending oil to Cuba. Finally, this past weekend, came a reprieve

Embarrassing Pivot: US Considers Dropping Iran Oil Sanctions

March 22, 2026 Alan MacLeod, Mintpress News. , , , ,
Forced into a humiliating U-turn amid a potential global economic meltdown, the Trump administration announced today that it may remove sanctions on Iranian oil already at sea.  Treasury Secretary Scott Bessent told Fox News that the move to free up 140 million barrels of oil was aimed at preventing China gaining from the situation. “That’s about 10 days to two weeks of supply that the Iranians had been pushing out that would have all gone to China,” he said. “In essence, we will be using the Iranian barrels against the Iranians to keep the price down for the next 10 or 14 days as we continue this campaign.”

Weaponizing Oil: Ecocide, Imperialism And The Chemical Warfare Brigades

March 20, 2026 Anthony Karefa Rogers-Wright, Black Agenda Report. , , ,
Last weekend the zionist entity continued its unprovoked war of aggression against the Islamic Republic of Iran with its largest benefactor and partner in imperialism and international gangsterism, the United States. The tactics utilized by the zionist entity against Iran were and have been similar to those used against all of the nations and peoples it has attacked and continues to attack including Lebanon, Syria, Yemen, and Palestine (both Gaza and the Occupied West Bank). Yet for all these tactics, there is one that even caught the attention of mainstream, bourgeois media outlets like the New York Times even if they won’t name the tactic what it is - Ecocide. 

Asymmetric Economic War: Iran Challenges US Dollar

March 19, 2026 Ben Norton, Geopolitical Economy. , , , ,
Iran has responded to the war of aggression that the United States and Israel launched against it on February 28 by using unconventional tactics. As the US and Israel systematically assassinate Iranian officials and bomb schools, hospitals, and residential areas, Tehran has defended its sovereignty by engaging in a campaign of asymmetric economic warfare, not only hitting US military bases in West Asia, but also targeting major US corporations, and even challenging dollar dominance.

Iran Mulls Allowing Tankers Through Strait Of Hormuz If Trade In Yuan

March 15, 2026 News Desk, The Cradle. , , , ,
Iran is considering allowing a “limited number” of oil tankers to pass through the Strait of Hormuz on the condition that the oil cargo is traded in Chinese yuan, CNN reported on 14 March. A senior Iranian official told the US news outlet that Tehran is working on a new plan to manage tanker traffic through the strategic waterway on Iran’s southern coast. Iran has effectively sealed off the strait, allowing only its own and Chinese ships to pass. Before the start of the US-Israeli war on Iran on 28 February, at least 20 percent of the world’s oil flowed through it.

Trump Threatens New Attacks On Kharg Island

March 14, 2026 News Desk, The Cradle. , , , ,
US President Donald Trump threatened on 14 March to strike Iran’s oil facilities on Kharg Island if Tehran continues to block the Strait of Hormuz, hours after US strikes allegedly “obliterated” the Iranian oil hub's military assets. “Should Iran, or anyone else, do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz, I will immediately reconsider this decision,” Trump announced via social media. The warning came after US strikes on military infrastructure on Kharg Island – a Persian Gulf export hub handling about 90 percent of Iran’s crude shipments – which Trump said had “totally obliterated every MILITARY target,” describing the raid as “one of the most powerful bombing raids in the History of the Middle East.”

IRGC Strikes Vessels Attempting To Cross Strait Of Hormuz

March 11, 2026 News Desk, The Cradle. , , , ,
Three vessels were struck while traveling through the Strait of Hormuz on 11 March, as Iran continues its dominance of the strategic waterway amid the ongoing US-Israeli war on the Islamic Republic. Iran's Islamic Revolutionary Guard Corps (IRGC) announced its forces struck the Mayuree Naree, a Thai-flagged dry bulk vessel, after it failed to heed warnings not to enter the strait. The ONE Majesty, a Japan-flagged container ship, sustained minor damage from an unidentified projectile as it traveled 46 kilometers off the coast of the UAE.

US Energy Chief Accused Of Manipulating Oil Markets

March 11, 2026 Jake Johnson, Common Dreams. , , , ,
US Energy Secretary Chris Wright, a former fracking executive, was accused on Tuesday of manipulating global markets after he posted a striking claim on social media: The American Navy, he wrote, had “successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing.” The post on X was deleted minutes later, after “oil prices slid at their steepest pace in years,” according to the Wall Street Journal. The White House press secretary later acknowledged publicly that Wright’s claim was false, and the Energy Department threw unnamed staff under the bus.

Iran’s Grand Plan To End US Presence In The Middle East

March 9, 2026 Michael Hudson, Counter Punch. , , , ,
Iran and Donald Trump have each explained why failure to fight the current war to the end would simply lead to a new set of mutual attacks. Trump announced on March 6 that “There will be no deal with Iran except unconditional surrender,” and announced that he must have a voice in naming or at least approving Iran’s new leader, as he has just done in Venezuela. “If the U.S. military must utterly defeat it and bring about a regime change, or else you go through this, and then in five years you realize you put somebody in who’s no better.”

Khamenei Assassination, Strait Of Hormuz Closure And Betrayal Of Arab Nations

March 5, 2026 Mnar Adley, Mintpress News. , , ,
It’s being called a war between good vs evil. The epstein class vs a nation that dares to stand up against US-Israeli imperialism: Iran. The US and Israel launched a full scale war on Iran on Saturday, destroying schools, residential buildings, and assassinating political and military leaders.  Iran’s supreme leader and marjaa’ Ayatollah Khamenei is dead, killed in a joint CIA/Israeli operation. The planet appears on the brink of World War Three.  What can we expect? How will Iran strike back? And what do Iranians think about the situation?  In this special edition of the MintCast, MintPress director Mnar Adley is joined from Tehran by returning guest, Seyeed Seyed Mohammad Marandi, Professor of English Literature and Orientalism at the University of Tehran. 

While Bombing Iran, US And Israel Attack Even More Countries

March 5, 2026 Ben Norton, Geopolitical Economy. , , ,
The war that the United States and Israel launched against Iran is expanding. Washington and Tel Aviv are attacking more and more countries. The CIA is arming Kurdish proxy forces in northern Iraq, with plans to launch an invasion of Iran. Meanwhile, Israel has invaded Lebanon, and has reimposed its siege of Gaza. Donald Trump is now even threatening to impose an economic embargo on Spain, because it refuses to support his illegal war of aggression against Iran. In response to the US-Israeli attacks, Iran has retaliated in self-defense, which it is allowed to do under international law. Tehran has hit US military bases in the countries surrounding it in West Asia.

Trump’s Cruelty Is Strangling Cuba

February 26, 2026 Marjorie Cohn, Truthout. , , , ,
In accordance with Secretary of State Marco Rubio’s long-standing vendetta against Cuba, Donald Trump issued an executive order on January 29 aimed at tightening the U.S. noose around Cuba’s neck. Trump’s order preposterously declared Cuba “an unusual and extraordinary threat,” without providing a shred of evidence, and warned that he would impose punitive tariffs on states that deliver fuel to Cuba. His intention is to suffocate the Cuban people, who rely on oil for 80 percent of their electricity. UN human rights experts called Trump’s order “a serious violation of international law” and “an extreme form of unilateral economic coercion with extraterritorial effects."

Brazil: Workers, Social Movements Organize ‘Oil For Cuba’ Campaign

February 15, 2026 The Brazilian Federation of Oil Workers, Resumen English. , , , ,
On Friday, February 13, the FUP sent a letter to Petrobras’ Executive Board of Logistics, Marketing, and Markets, requesting a meeting to discuss the possibility of sending emergency fuel to Cuba. Social organizations, popular movements, and oil workers are coordinating the Petróleo para Cuba (Oil for Cuba) campaign to pressure the Brazilian government and Petrobras to send emergency fuel to the Caribbean country, which is being suffocated by additional sanctions imposed by the Trump administration. With the support of the two national oil workers’ federations (FUP and FNP), the initiative brings together the Brazilian Movement of Solidarity with Cuba and Just Causes, the José Martí Cultural Association, popular entities, trade unions, and political parties.

Venezuela’s Acting President Calls For Breaking Oil Dependency

February 9, 2026 Olys Guárate, Orinoco Tribune. , , , , ,
During a community outreach activity in the Almirante Lino de Clemente commune, Miranda state, Venezuelan Acting President Delcy Rodríguez emphasized the strategic need to break with the oil rentier economic model and highlighted the importance of strengthening of the Venezuelan participatory and protagonistic socialist model in this regard. During the activity, held on Saturday, february 7, Rodríguez highlighted that oil revenue will be reserved exclusively for social welfare and the improvement of public services, while production must originate from the territory in the communes.
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