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Saudi Arabia Strikes Back In Yemen

Politics, Geopolitics & Conflict

- The Saudi-led coalition in Yemen has launched an offensive against Houthi forces in the capital Sanaa after Houthi forces claimed a drone attack on Saudi pipeline installations earlier this week - an attack the Saudi crown prince says was ordered by Iran in his effort to ensure that Trump starts an all-out war with Tehran. Beware the Saudi propaganda (with help from UAE black ops).

- The US has suspended all commercial and cargo flights to and from Venezuela on the grounds of unrest in the vicinity of Venezuelan airports.

- As we anticipated, China has slapped a 25% retaliatory tariff on US LNG, but has not targeted American crude oil. The new LNG tariff adds to a previous 10% tariff from China on US LNG. China is already importing significantly reduced amounts of crude oil from the US. In June 2018, it was importing over 500,000 bpd from the US; by February this year that was down to about 135,000 bpd, based on EIA figures.

- In Libya, as the horse-jockeying continues on the international scene, with Haftar making a “surprise” trip to Rome and expected to hit up France as well, while the GNA is wooing Houston with promises of lucrative oil deals, the GNA’s earlier move to revoke the operating licenses of foreign companies on its soil (including French Total SA) was reversed 24 hours later – a message apparently sent out of desperation.

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