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Time Is Money

Feb 5, 2024 • 4 min read

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Middle East Strikes
Russian Oil

Middle East Strikes:

In a decisive response to escalating threats in Yemen, U.S. Central Command, in collaboration with UK Armed Forces and with support from Australia, Bahrain, Canada, Denmark, the Netherlands, and New Zealand, executed precision strikes on February 3 at exactly 11:30 p.m. (Sanaa time) against Iranian-backed Houthi militants. This coordinated action targeted 36 Houthi sites across 13 locations, aiming to dismantle the militant group's capability to launch attacks against international and U.S. Navy vessels in vital maritime zones including the Red Sea, Bab Al-Mandeb Strait, and the Gulf of Aden.
The targets hit were diverse, ranging from underground storage facilities and command centers to missile systems and UAV operations sites, all intended to degrade Houthi capabilities and ensure the safety of international maritime routes. The campaign continued into the early hours of February 4, with a targeted strike at precisely 4 a.m. (Sanaa time) against a Houthi-prepared anti-ship cruise missile in the Red Sea, followed by a strike at 5:30 a.m. against a land attack cruise missile.
Subsequently, at 10:30 a.m., U.S. forces neutralized four additional anti-ship cruise missiles, all poised for launch from Houthi-held areas. These missiles were identified as imminent threats to both U.S. Navy and civilian ships operating in the region. These actions underline the U.S. and its allies' firm commitment to protecting freedom of navigation and ensuring the security of international waters against hostile activities.

Russian Oil:

Russia has dialed back its gasoline exports to countries outside the Commonwealth of Independent States (CIS), attributing the move to unexpected repair work at its refineries, as per the Ministry of Energy's announcement on Wednesday. This adjustment comes amid challenges including fires and drone attacks on its energy facilities.
January saw a significant reduction in gasoline and diesel exports, dropping 37% and 23% compared to January 2023. The ongoing conflict between Russia and Ukraine, marked by attacks on each other's energy infrastructure, adds to the complexities, with both sides aiming to hinder the other's supply chains and morale. Additionally, Russia has voluntarily agreed to slash its oil and fuel exports by 500,000 barrels daily in the first quarter, aligning with OPEC+ efforts to stabilize the energy market.
This decision follows incidents like a technical shutdown at the NORSI refinery and a fire at the Ust-luga fuel export terminal, attributed to drone attacks, affecting fuel production and exports. Despite these disruptions, Russia reports an uptick in gasoline production for domestic use in January, with notable increases in gasoline and diesel supplies. The country asserts its preparedness with ample reserves to maintain steady domestic fuel availability.

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