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☆ China's inaction on Iran has 'undermined' its influence in the Middle East, analyst says
▼ + stars: | 2024-04-16 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

China's restrained silence on the Middle East conflict is tipping the scales of regional influence back in the U.S.' favor, according to one analyst. "[Beijing's] role has been less pronounced than many expected, and actually I think it's undermined the sense of growing Chinese influence and confidence in the region," Julien Barnes-Dacey, director of the Middle East & North Africa program at the European Council on Foreign Relations, said on CNBC's "Street Signs" Tuesday. Last week, world leaders entreated China to use its considerable influence as a key trade partner to sway Tehran away from a direct attack against Israel, after an Israeli strike killed several top Iranian commanders in Damascus. Roughly 99% of these projectiles were eliminated by Israel, with help from the U.S., the U.K., France and Jordan. Since then, the specter of Israeli retaliation and a broader conflict in the Middle East has loomed large, with Washington stressing its commitment to Israeli defense and world leaders urging calm.

Persons: Julien Barnes, Dacey, Israel — Organizations: European Council, Foreign Relations, Israel Locations: U.S, Africa, China, Tehran, Israel, Damascus, Iran, Strait, Hormuz, France, Jordan, Washington

☆ For Israel’s Allies, Iranian Missile Strike Scrambles Debate Over Gaza
▼ + stars: | 2024-04-16 | by ( Mark Landler | ) www.nytimes.com time to read: +1 min

Two weeks ago, Prime Minister Rishi Sunak of Britain was facing a chorus of calls to cut off arms shipments to Israel because of its devastating war in Gaza. On Monday, Mr. Sunak saluted the British warplanes that had shot down several Iranian drones as part of a successful campaign to thwart Iran’s attack on Israel. Faced with a barrage of Iranian missiles, Britain, the United States, France and others rushed to Israel’s aid. They set aside their anger over Gaza to defend it from a country they view as an archnemesis, even as they pleaded for restraint in Israel’s response to the Iranian assault. But it could prove to be a fleeting change, they said, if Mr. Netanyahu orders a counterstrike damaging enough to pitch the region into wider war.

Persons: Rishi Sunak, Sunak, Benjamin Netanyahu, Netanyahu, Mr, Biden, Iran’s Locations: Israel, Gaza, Iran, Britain, United States, France, Damascus

☆ China is refusing to condemn Iran's strike on Israel — and it's part of a Middle East power play
▼ + stars: | 2024-04-16 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

China refused to condemn Iran's missile attack on Israel. AdvertisementChina refused to condemn Iran's missile and drone attack on Israel as it seeks to position itself as a key player in the Middle East. The statement was notable because it contained no condemnation of Iran's attack on Israel on Saturday. The US has sought to enlist China is helping to prevent a bigger regional war, the State Department said. In the readout, China praised Iran for acting with restraint in its response to Israel's embassy attack.

Persons: —, Wang Yi's, Hossein Amir, Amir, Abdollahian, Wang, Israel's, Xi Jinping, Ebrahim Raisi, Benjamin Netanyahu Organizations: Service, Foreign, Saturday, Iran, Iranian, Lebanese, Hezbollah, Israel's, US, State Department Locations: China, Israel, Iran, Damascus, Syria, Iranian, Saudi Arabia, Gaza, Beijing

☆ Opinion: 5 critical takeaways from Iran’s attack on Israel
▼ + stars: | 2024-04-16 | by ( Opinion Frida Ghitis | ) edition.cnn.com time to read: +9 min

Miraculously, by a feat of military technology bolstered by coordination with friends and allies, Israel was able to repel the massive attack. The Quds Force commanders have been working with Iran-allied Hezbollah, which has been shelling Israel since Oct. 7, when Hamas launched an attack from Gaza. What if Iran’s missiles and drones had carried nuclear material? In addition, the US was able to work out of its bases in Qatar and northern Iraq to counter Iran’s attack. The Iranian attack has revealed that Israel does have friends, including some in very important places: across the Middle East.

Persons: Frida Ghitis, Israel, Frida Ghitis Tanya Malott, Jerusalem —, Jesus, Israel unlivable, Israel —, Benjamin Netanyahu, —, General Antonio Guterres “, ”, Jordan, ” Saudi Arabia — Iran’s, Benny Gantz, ” Biden, “, Bezalel Smotrich, Itamar Ben Gvir, John Bolton Organizations: CNN, Washington Post, Politics, Islamic Revolutionary Guard Corps, Israel, Quds Force, Hamas, Ukraine, Street Journal, United Arab, Finance, National Security Locations: Israel, Jerusalem, al, Aqsa, Iran, Arab Israeli, Damascus, Gaza, Beirut, Buenos Aires, Jordan, Iraq, North Korea, Israeli, Palestinian, Lebanon, Yemen, Syria, Russia, Argentina, Japan, United States, France, ” Saudi Arabia, United Arab Emirates, Qatar, Republic

☆ World leaders call for restraint in the aftermath of Iran’s unprecedented air attack against Israel
▼ + stars: | 2024-04-15 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +7 min

Anadolu | Anadolu | Getty ImagesWorld leaders have called for calm in the aftermath of Iran's large-scale air attacks on Israel on Saturday, with many expressing deep concern over the prospect of a broader regional conflict. Ahead of a war cabinet meeting on Monday, Israel has pledged to "exact a price" from Iran in response to the Saturday attack. watch nowU.S. President Joe Biden on Saturday said that he condemned "in the strongest possible terms" Iran's unprecedented air attack against military facilities in Israel. 'No one wants to see more bloodshed'European leaders castigated Iran's attack against Israel and vowed to work to de-escalate the situation. France and the U.K. intercepted some of Iran's strikes on Israel on Saturday.

Persons: Israel, Joe Biden, Biden, Benjamin Netanyahu, Iran's, Emmanuel Macron, Rishi Sunak, Annalena Baerbock, Baerbock, Sunak, Yoko Kamikawa, Kamikawa, Gustavo Petro, Petro, Nicolas Maduro Organizations: Anadolu, Getty, CNBC, NBC News, Downing, German, NBC, Israel, Saudi Arabia's Foreign, United Nations Security Council, Sunday, UN, UNRWA, Kyodo, Japan's, United Nations, Colombia's, Bloomberg Locations: Israel, Tehran, Iran, Syria, Gaza, Syrian, Damascus, France, London, England, Germany, East, North Africa, Saudi, Egypt, Asia, China, Beijing, Palestine, Tokyo, Japan, South America, U.S, Miraflores, Caracas, Venezuela

☆ Can China play a role in avoiding an all-out war in the Middle East?
▼ + stars: | 2024-04-15 | by ( Nectar Gan | Simone Mccarthy | ) edition.cnn.com time to read: +9 min

“China calls on the international community, especially countries with influence, to play a constructive role for the peace and stability of the region,” the ministry added. The decision by Iran’s leaders to strike at Israel directly has pushed the shadow war between the two regional foes into the open. That’s why China does not condemn Iran,” said Yun Sun, director of the China program at the Washington-based Stimson Center think tank. Beijing meanwhile denounced the strike as a “barbarian act,” with protests erupting outside US diplomatic compounds across China. “For China, had US applies enough pressure on Israel, neither the Israeli attack nor the Iranian retaliation would have taken place.

Persons: Beijing’s, Antony Blinken, Wang Yi –, Saudi Arabia –, ”, William Figueroa, Figueroa, “, Xi Jinping, China’s, Iran ”, Israel, ” Figueroa, Wang Wenbin, Wang, Yun Sun, Bill Clinton, Jiang Zemin, ” Sun, Kishida, Jaishankar, Israel Katz, Hossein Amirabdollahian Organizations: Hong Kong CNN, Foreign Ministry, Washington, US State Department, Hamas, Beijing, Tehran, University of Groningen, Global Security Initiative, CNN, Chinese Foreign Ministry, Stimson, NATO, Embassy, Japan’s, Israel’s Foreign, Iranian Locations: China, Hong Kong, East, Iran, Israel, Beijing, Gaza, Tehran, Damascus, Republic, Turkey, Saudi Arabia, Palestinian, Red, Tehran –, Netherlands, underinvestment, United States, Israeli, Syria, Quds, Washington, Belgrade, That’s, Yugoslavia, Asia, ”, India, Philippines, Malaysia, Indonesia

☆ Rising oil is still the big market risk despite today's pullback, analysts say
▼ + stars: | 2024-04-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Markets kept their cool on Monday amid a fast-moving and volatile geopolitical landscape in the Middle East — but the longer-term risk premium has likely risen, while oil prices remain on edge, analysts said. Iran said it was acting in self-defense in response to a strike on its diplomatic compound in Damascus, Syria, earlier this month. By Monday, global players including the U.S. and European leaders were seeking to cool tensions, urging Israel to show restraint in its response. Sinha nevertheless added that "the fact that we moved from a proxy confrontation to a direct confrontation, even though that de-escalates in the near term, the longer term risk premium probably goes up." "I think the FX market ultimately will take its cue from oil prices because ultimately, that's the channel through which it spills over to the FX market," he said.

Persons: Adarsh Sinha, CNBC's, Sinha Organizations: U.S . Energy Information Administration, U.S, Asia FX, Bank of America, Iranian, FX Locations: Iran, Israel, Damascus, Syria, Strait, Hormuz, Tehran, Asia, U.S

☆ Israel’s military chief says that Israel will respond to Iran’s weekend missile attack
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: +5 min

Iran launched hundreds of drones, ballistic missiles and cruise missiles at Israel in the attack. Israeli military chief Lt. Gen. Herzi Halevi said Monday that Israel is considering its next steps but that the Iranian strike "will be met with a response." Both men spoke at the Nevatim air base in southern Israel, which Hagari said suffered only light damage in the Iranian attack. The Iranian weapons also flew through Saudi skies, according to a map released by the Israeli military. Throughout the war, Israel has traded fire across its northern border with Lebanon's Iranian-backed Hezbollah militant group, while Iranian-backed militias in Iraq and Yemen have also attacked Israel.

Persons: Herzi Halevi, Israel, Halevi, Daniel Hagari, Hagari, Benjamin Netanyahu, Steve Scalise, Netanyahu, Jordan —, Halevia, Rishi Sunak, Emmanuel Macron, John Kirby, Kirby, Antony Blinken Organizations: Staff, Palestinian, Hamas, U.S, Seven, U.S . Central Command, Islamic, Hezbollah, Washington , U.S . National Security Locations: Gaza, Syrian, Damascus, Iran, Israel, U.S, Jordan, Saudi Arabia, Britain, American, France, Saudi, Iranian, Iraq, Yemen, British, Paris, Washington , U.S

☆ Israel vows to 'exact a price' after Iran's attack. Here's what analysts expect could happen
▼ + stars: | 2024-04-15 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

But Israel will need to strike a delicate balance, he noted, highlighting that "they don't want an overt conflict with Iran." Iran has said the attack on Israel was in response to an Israeli strike on its embassy compound in Damascus, Syria earlier this month. The Islamic regime has accused Israel of the April 1 attack which killed seven Iranian military personnel, including senior commanders. Israel and Iran have been at odds for decades, with Iran funding and supporting groups opposing Israel including Palestinian militant group Hamas. The ongoing conflict in Gaza has often been referred to as a proxy war between Israel and Iran.

Persons: Amir Cohen, Israel, Joe Biden, Ryan Bohl, Bohl, CNBC's, Biden, Benjamin Netanyahu, Benny Gantz, Amir Saeid Iravani, Bashar al, Assad, David Roche, Roche, Israel's, What's Organizations: Reuters, Middle East, Rane, NBC News, United Nations, Palestinian, Hamas, Yemeni, Independent, CNBC Locations: Gaza, Ashkelon, Israel, Reuters Israel, Iran, North Africa, Damascus, Syria, Tehran, United States

☆ Here’s how the Israel-Iran conflict affects the oil market
▼ + stars: | 2024-04-15 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

Oil prices spiked Friday to levels not seen since October in anticipation of just such an escalation but on Monday were subdued. “It is the most significant chokepoint in the global oil market,” Richard Bronze, co-founder and analyst at data firm Energy Aspects, told CNN. A renewed crackdown would, however, “create upward pressure on global prices” at an inopportune moment, Tagliapietra said. A tight oil marketDespite Iran’s barrage of drones and missiles, the conflict had a relatively muted impact on the global oil market Monday. Oil prices have already risen sharply since hitting a low in early February.

Persons: London CNN —, Brent, Israel —, Simone Tagliapietra, ” Richard Bronze, Tagliapietra, Joe Biden’s, WTI, Russia — Organizations: London CNN, West Texas Intermediate, CNN, International Energy Agency, Hamas, Organization of, Petroleum, United Arab Emirates, Traders Locations: Israel, Iran, Syria, Paris, Gaza, Tehran, Hormuz ‘, Hormuz, Brussels, China, Strait, Saudi Arabia, Kuwait, United States, Ukraine, Washington, Damascus, OPEC, Russia, Brazil, Guyana, Canada

☆ Photos show Israel's F-35I Adir stealth fighter jets used to defend against Iranian missiles
▼ + stars: | 2024-04-15 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

Iran appeared to target Israel's Nevatim Airbase with over 350 drones and missiles on Sunday. Nevatim houses Israel's F-35I "Adir" stealth fighter jets produced by US company Lockheed-Martin. AdvertisementEarly Sunday morning, Iran fired hundreds of drones, missiles, and rockets at Israel in a retaliatory attack following Israel's strike on the Iranian consulate in Damascus, Syria. The missiles appeared to target Israel's Nevatim Airbase in the Negev desert, which houses its fleet of F-35I stealth fighter jets. The Israeli variant of the US-made Lockheed Martin Lightning II Joint Strike Fighter plane is known as "Adir," meaning "Mighty One" in Hebrew.

Persons: Martin, —, Lockheed Martin Organizations: US, Lockheed, Iranian, Service, Israel Defense Forces, Lockheed Martin Lightning Locations: Iran, Airbase, Israel, Damascus, Syria, Jordan, France

☆ British investment bank says buy defense stocks, brace for $100 oil and 10% stock market correction
▼ + stars: | 2024-04-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Oil prices were slightly lower Monday as Israel, aided by the U.S., fended off Iran's aerial barrage. The investment bank believes aerospace and defense stocks could outperform in the short run in light of growing geopolitical risks. The biggest ETF in the industry is the iShares U.S. Aerospace & Defense ETF (ITA) , with about $5 billion in assets under management. Invesco Aerospace & Defense ETF (PPA ) and SPDR S & P Aerospace & Defense ETF (XAR) are two other popular offerings. To be sure, Liberum thinks the stock market could quickly reverse any losses as soon as the tensions in the Middle East ease.

Persons: Israel retaliating, Liberum, — CNBC's Michael Bloom Organizations: Liberum, U.S ., Federal Reserve, West Texas Intermediate, May, U.S . Aerospace & Defense ETF, ITA, Invesco Aerospace & Defense ETF, P Aerospace & Defense ETF Locations: Iran, Israel, Damascus, Syria, U.S

☆ Ex-CIA director says Israel could use 'covert' operations to retaliate against Iran's drone strikes without escalating the conflict
▼ + stars: | 2024-04-15 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewA former CIA director says Israel could take a covert, rather than an overt, response against the Iranian drone strikes that took place on Saturday. They can pursue asymmetric attacks, cyberspace, and so forth," former CIA director and retired general David Petraeus told CNN on Sunday. The airstrike had reportedly killed several top Iranian military commanders. AdvertisementAnd that, Petraeus told CNN on Sunday, isn't something that Iran wants to see. Representatives for Petraeus did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: —, Israel, David Petraeus, Petraeus, BI's Rebecca Rommen, Mossad's, Brent Crude Organizations: Service, CIA, CNN, Business, United Nations, UN, NY, Atlantic Council, New York Times, Business Insider Locations: Washington, Iran, Israel, Jordanian, Iranian, Syria, Islamic Republic of Iran, Damascus, Tehran, Iraq's Kurdistan

☆ Oil prices fall after Iran attack as market draws down risk premium
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell at Asia's open on Monday, as market participants dialed back risk premiums following Iran's attack on Israel late on Saturday which the Israeli government said caused limited damage. The attack involving more than 300 missiles and drones was the first on Israel from another country in more than three decades. Oil benchmarks had risen on Friday in anticipation of a retaliatory attack by Iran, touching their highest levels since October. But prices still ended the week down about 1% after the International Energy Agency lowered its forecast for oil demand growth this year. A "less certain path to Fed rate cuts" because of persistent U.S. inflation also weighed on prices, Sycamore said.

Persons: Brent, Tony Sycamore, Jorge Leon, Analysts, Sycamore Organizations: West Texas, Israel's, Iran, International Energy Agency, Rystad Energy Locations: Tutong district, Brunei, Israel, Iran, Damascus, Gaza, U.S, Syria, Strait, Hormuz, East, Europe

☆ Live Updates: World Leaders Urge Restraint as Israel Weighs Retaliation Against Iran
▼ + stars: | 2024-04-15 | by ( Mike Ives | ) www.nytimes.com time to read: +5 min

Israeli military analysts are divided on whether a more direct confrontation with Iran would alter the war in Gaza. But it occurred against the backdrop of the war in Gaza, where Israel is battling Hamas, a militant group funded and armed by Iran. Some analysts argued that the implications for Gaza would depend on whether Israel responded with a major counterattack against Iran. Other military experts, however, dismissed the link between the Iranian attack and the war in Gaza. General Gilead said that Israel’s army had enough resources to fight against Iran and continue to wage war against Hamas in Gaza.

Persons: Israel, Shlomo Brom, General Brom, “ It’s, Benjamin Netanyahu, “, ”, Amos Gilead, General Gilead, Giora Eiland, Eiland, Mr, Netanyahu, ” Aaron Boxerman Organizations: Hamas, Israel’s National Security Council Locations: Khan Yunis, Gaza, Iran, Israel, Israeli, Damascus, Rafah, United States, Britain, Jordan, Lebanon, Jerusalem

☆ Iran's aerial attack on Israel was based on Russian tactics in Ukraine, war experts say
▼ + stars: | 2024-04-15 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Iran's aerial attack on Israel mirrored Russian tactics in Ukraine, according to analysts. Another analyst disagreed, saying Iran used similar tactics long before Russia's full-scale invasion. AdvertisementSome military analysts are comparing Iran's attempt to bombard Israel over the weekend with Russian tactics in Ukraine. The IDF estimated that the attack used 170 drones, 30 cruise missiles, and 120 ballistic missiles. He pointed to Iran's 2019 attack on two major Saudi oil refineries, which also reportedly used drones combined with cruise missiles.

Persons: —, Brian Carter, Frederick W, Kagan, Fabian Hinz, Hinz, Carter, Rodger Shanahan, it's, Israel, Shanahan Organizations: Service, Israel Defense Forces, American Enterprise, IDF, London's International, for Strategic Studies, CBS, Lowy Institute, ABC News Locations: Israel, Ukraine, Iran, ABC News Australia, Damascus, Syria

☆ 'We have woken up to a new paradigm in the Middle East' following Iran-Israel escalation, analyst says
▼ + stars: | 2024-04-15 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Iran on April 14 urged Israel not to retaliate militarily to an unprecedented attack overnight, which Tehran presented as a justified response to a deadly strike on its consulate building in Damascus. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images)Iran's weekend attack on Israel marks a "new paradigm" in the Middle East conflict, which risks escalating into a wider regional war, Chatham House's Middle East director said Monday. "The Israeli leadership will have a hard time not responding. Iran launched more than 300 drones and missiles against military targets inside Israel on Saturday in response to a suspected Israeli strike that killed top Iranian officials in Syria. The attack, though well telegraphed in advance, has presented some opportunity for Israel to rehabilitate its image following its months-long onslaught in Gaza, which many perceive as disproportionate to Hamas' Oct. 7 terror attacks.

Persons: ATTA KENARE, Sanam Vakil, thinktank, it's, Vakil, CNBC's Organizations: Getty, Chatham House's Locations: Persian, Israel, Tehran, Iran, Damascus, AFP, London, Syria, Gaza

☆ Restraint or retribution? Israel faces dilemma in its response to Iran’s attack
▼ + stars: | 2024-04-15 | by ( Nadeen Ebrahim | Jeremy Diamond | ) edition.cnn.com time to read: +10 min

Israel must balance international pressure to show restraint on the one hand, while searching for an appropriate response to an unprecedented attack. Western and Arab allies of Israel have been discouraging it from responding to Iran’s attack. Benny Gantz, a key member of the war cabinet, has pushed for a swifter response to Iran’s attack, two Israeli officials told CNN. He believes that the longer Israel delays its response to Iran’s attack, the harder it will be to garner international support for it, the sources said. Risking Arab tiesArab states, including those that are friendly with Israel, have expressed concern about a potential escalation from Iran’s attack, but haven’t outright condemned it.

Persons: CNN —, Benjamin Netanyahu, ”, Raz Zimmt, Israel …, Amir Cohen, ” Zimmt, Alon Pinkas, Tamir Hayman, Israel’s, Jordan, ” Hayman, Joe Biden, Biden, Adam Schultz, Netanyahu, Netanyahu’s, it’s, ” Pinkas, Pinkas, Louai Beshara, Israel, ” Yaakov Amidror, Iran’s, Benny Gantz, haven’t, CNN’s Becky Anderson, Ayman Safadi, ” Safadi Organizations: CNN, Islamic, Analysts, Hamas, Institute for National Security Studies, Sunday, Reuters, National Security, White, Domestic, Getty Locations: CNN — Israel, Islamic Republic, Israel, Iran, Damascus, Gaza, Tel Aviv, Tehran, Ashkelon, Israeli, France, Pinkas, Iranian, Syria, AFP, Rafah, United States, Jerusalem, Jordanian, “, Persian, Hormuz

☆ Arab states unexpectedly helped Israel fight off Iran's attack
▼ + stars: | 2024-04-15 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Jordan shot down an Iranian missile, and other Arab states may've provided intel. In March, Saudi Arabia and Iran restored ties with the help of China, agreeing to reopen embassies in their respective capitals. AdvertisementHowever, according to reports, Saudi Arabia and other Arab states are willing to continue discussions with Israel once fighting in Gaza has abated. There is a risk for Arab states though in being seen to come to Israel's aid, Giorgio Cafiero, CEO of Gulf State Analytics, told Business Insider. AdvertisementAs the conflict between Israel and Iran intensifies, Arab states face a tough choice between their security priorities and addressing public anger over Gaza.

Persons: Israel, Jordan, may've, —, Samih, Marj Al, Yasmine Farouk, Farouk, Abraham, Trump, Israel's, Giorgio Cafiero Organizations: intel, Service, Deutsche Welle, St, Anadolu, Getty, Israel, Carnegie Endowment, International Peace, New York Times, Abraham Accords, Analytics Locations: Iranian, Israel, Iran, Damascus, Jordan, Gaza, Jordanian, Saudi Arabia, UAE, Gulf, Marj, Amman , Jordan, China, Bahrain, Amman

☆ Iran's attack on Israel could be bad for Russia's war in Ukraine
▼ + stars: | 2024-04-15 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewIran's attack on Israel on Saturday is bad not only for the Middle East, but also for Russia's war in Ukraine as new fault lines emerge between Moscow and Tehran. AdvertisementRussia has been installing itself as a military and diplomatic player in the Middle East for years. This is in part due to Moscow's preoccupation with its war in Ukraine, Grisé wrote. "Russia would be especially sensitive to Chinese attempts to encroach on its influence in the Middle East," Grisé wrote in her commentary. AdvertisementThis is especially so since Beijing managed to deliver results in March 2023, brokering a détente between Saudi Arabia and Iran, Grisé added.

Persons: —, Michelle Grisé, Grisé, Russia's, Israel —, Ursula von der Leyen, Vladimir Putin Organizations: Service, RAND, Business, Iran, European Commission Locations: Israel, Ukraine, Moscow, Tehran, American, Russia, Iran, Damascus, Syria, Libya, Iranian, Beijing, Saudi Arabia, China

☆ Oil prices could see 'super spike well above $100' if conflict escalates after Iran's attack on Israel
▼ + stars: | 2024-04-15 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Any disruption in its capacity to supply global markets could send oil prices higher, analysts told CNBC. Insufficient investment makes supply more fragile and increases the chance of a super spike well above $100 if supply is disrupted. Stock Chart Icon Stock chart icon Oil prices since the start of the year. "I think oil prices will go to all time highs this cycle, due to a decade of under-investment in exploration and development," Young added. Oil prices have climbed in recent months on trade disruptions and delays caused by Red Sea maritime attacks from the Houthis, who claim solidarity with the Palestinian people.

Persons: Saeid Arabzadeh, Israel reigniting, Andy Lipow, Daniel Hagari, Josh Young, Brent, Young, Morgan Stanley's Organizations: Afp, Getty, OPEC, CNBC, Brent, Lipow Oil Associates, Israel Defense Forces, Bison, Iran's United Nations, underinvestment, U.S, West Texas Locations: Persian, Iran, Hormuz, Oman, Israel, Damascus, Syria, Asia

☆ Wall Street's scenarios for the Israel-Iran conflict from here and its impact on the oil market
▼ + stars: | 2024-04-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

The oil market has brushed off Iran's weekend air assault against Israel, with futures trading as much as 1.5% lower on Monday. Oil prices could spike above $100 a barrel depending on how Israel responds to the attack, the analyst wrote. Attack 'well-telegraphed' Iran's attack, though unprecedented, did little actual damage as Israel and the U.S. intercepted nearly all the drones and missiles. The Islamic Republic warned, however, it would strike harder next time if Israel responds to the weekend attack. Potential threats include Iran seizing ships associated with Israel in the Strait of Hormuz; Israel attacking Iranian oil and gas assets; or Iran striking energy assets of its neighbors if Israel hits too hard.

Persons: Israel, Maximilian Layton, Layton, Brent, Helima Croft, CNBC's, Natasha Kaneva, Kaneva, Goldman, Daan Struyven, RBC's Croft, Jan Stuart, Piper Sandler, Stuart Organizations: Citi ., Brent, Citi, RBC Capital Markets, RBC, U.S, United Nations, Islamic, JPMorgan, CNBC Locations: Israel, Iran, Damascus, Syria, Tehran, Lebanon, Republic, Islamic Republic, Goldman Sachs, Strait, Hormuz, Iranian

☆ JPMorgan says gold has further to run on escalating Middle East conflict
▼ + stars: | 2024-04-15 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Gold could have room for further upside as tensions in the Middle East mount, according to JPMorgan. Spot gold has been on a tear in 2024 with a gain of more than 14%. Prices hit an all-time high of $2,448.80 per ounce intraday on Friday as investors braced for a further escalation in the Middle East. @GC.1 YTD mountain Gold hit a fresh all-time high on Friday, but JPMorgan thinks bullion has more room to run. "Given positioning and recent price action, mean reversion risk in gold still remains elevated in the near-term though geopolitics remain a bullish-skewed wildcard amid risks of an escalating retaliation cycle between Israel and Iran," Shearer said.

Persons: Gregory C, Shearer, " Shearer, Michael Bloom Organizations: JPMorgan, Investors, Federal Reserve Locations: Iran, Israel, Damascus, Syria, @GC

☆ Dollar stands tall as U.S. rate-cut bets recede
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: +2 min

The dollar steadied on Monday, holding its biggest weekly gain since 2022, as escalating conflict in the Middle East and the prospect of stubbornly high U.S. interest rates gave support. The dollar steadied on Monday, holding its biggest weekly gain since 2022, as escalating conflict in the Middle East and the prospect of stubbornly high U.S. interest rates gave support. There was little initial reaction to a weekend attack on Israel by Iran. Canadian and New Zealand inflation figures are due on Tuesday, along with Chinese growth numbers. British inflation data is out on Wednesday and Aussie jobs data on Thursday.

Persons: Jason Wong, Sterling Organizations: New Locations: Asia, Israel, Iran, New Zealand, Israeli, Damascus, Wellington, Zealand

Should the Israeli regime commit any military aggression again, Iran's response will assuredly and decisively be stronger and more resolute,” Ambassador Iravani added. Citing self-defense against repeated Israeli military aggressions, Iravani said the strikes were specifically in retaliation to an Israeli attack on April 1 against what Iran says were diplomatic facilities in Damascus. Iran claims the attack violated international law and led to the death of seven Iranian military advisors, including key commanders from the Iranian Revolutionary Guard Corps. The statement also criticizes the United Nations Security Council for “failing to uphold international peace,” allowing Israel to “breach” established international norms and “escalate” regional tensions. However an Israel Defense Forces spokesman told CNN that their intelligence showed the building was not a consulate and was instead “a military building of Quds forces disguised as a civilian building.”

Persons: Amir Cohen, Israel, Amir Saeid Iravani, Iravani, Mohammed Reza Zahedi, ” Organizations: Reuters, Islamic, Representative, Iranian Revolutionary Guard Corps, United Nations Security Council, Revolutionary Guards, Israel Defense Forces, CNN Locations: Ashkelon, Israel, Reuters Iran, Tehran, Syria's, Damascus, “, Islamic Republic of Iran, Iran, Syria, Lebanon, Iranian, Quds

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