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But Widodo appointed Subianto as defense chief after his reelection, paving the way for an alliance despite their rival political parties. Backed by Widodo, Subianto swept to a landslide victory in February’s direct presidential election on promises of policy continuity. Subianto was sworn in with his new vice president, 37-year-old Surakarta ex-Mayor Gibran Rakabuming Raka. Leaders and senior officials from more than 30 countries flew in to attend the ceremony, including Chinese Vice President Han Zheng and leaders of Southeast Asia countries. Indonesia is a bastion of democracy in Southeast Asia, a diverse and economically bustling region of authoritarian governments, police states and nascent democracies.
Persons: Prabowo Subianto, Subianto, Prabowo, Gibran, , Atalaric Eka, , Joko Widodo, Widodo, Gibran Rakabuming Raka, Raka, don’t, Jordanian King Abdullah II bin Al, Hussein, Nancy Namrouqa, Abdullah, Han Zheng, Joe Biden, Linda Thomas, Greenfield, Adm, Samuel Paparo, ” Subianto, Suharto Organizations: Widodo, Southeast Asia —, Foreign, U.S, United Nations, Pacific Command, American, Army Locations: JAKARTA, Indonesia, Jakarta, Surakarta, Southeast Asia, Jordan, Jordanian, Amman, Gaza, Subianto, Asia, United States, China, U.S, Australia, Indonesian, Borneo
WASHINGTON — With just two weeks left in the 2024 campaign, there currently are no plans for Vice President Kamala Harris to appear on the trail with President Joe Biden before Election Day, according to three Harris campaign officials and three White House officials. Biden last appeared with Harris at a campaign event nearly seven weeks ago, on Labor Day in early September. That’s a contrast to former President Obama, who has headlined a series of Harris campaign events, and former President Bill Clinton who has also been on the trail for the vice president. First lady Jill Biden has headlined multiple events for the Harris campaign as well and is set to hit the trail for her again on Wednesday in Nevada. White House and campaign officials say the president understands the strategy behind his downsized role in the campaign, even if at times he doesn’t like it.
Persons: Kamala Harris, Joe Biden, Harris, Biden, , , “ Harris, Joe Biden’s, ” Harris, Trump, tethering Harris, ” Trump, Biden’s, Barack Obama, Michelle Obama, He’s, Obama, Bill Clinton, Jill Biden Organizations: WASHINGTON, White, White House, Democratic, Biden, Fox, NBC News, Philadelphia Democrats, Workers, Labor, Nevada . White Locations: Georgia, Michigan, New Hampshire, Philadelphia, Florida, North Carolina, Israel, Nevada ., U.S
In Tel Aviv, people protested outside the Israel Defense Forces’ headquarters, blocking traffic and chanting anti-government slogans. Eran Nissan, a peace activist from the progressive Israeli group Mehazkim, has been attending anti-government rallies since January last year. On Saturday, he was handing out T-shirts and stickers with derogatory messages about Israel’s far-right security minister Itamar Ben Gvir. There are 101 hostages still held in Gaza, Israeli authorities say, but as many as one-third of them are thought to be dead. And any poll that you see right now shows they’re going to be hit hard,” he said.
Persons: Benjamin Netanyahu, Eran Nissan, Itamar Ben Gvir, Nissan, , Yahya Sinwar, , Hassan Nasrallah Organizations: Israel Defense Forces ’, CNN Locations: Israel, Gaza, Tel Aviv, Iran
Increasingly, Europe’s centrist figureheads are dropping their once-high-minded rhetoric on irregular migration, reaching instead for positions that were previously the preserve of the continent’s populist rabble-rousers. In Poland, like in much of Europe, “voters across the board expect that border security and migration controls are the priority,” Kucharczyk said. But Thursday’s victory for Tusk in Brussels underscores a broader, rightward shift across Europe on the issue of irregular migration. “It’s an existential issue for this coalition, and they don’t want to take chances on issues like migration,” Kucharczyk said. The wider question is whether the longstanding principles of the border-free Schengen Area can survive an enduring era of rising migration and populist subversion.
Persons: Donald Tusk, ” Tusk, Spain’s Pedro Sanchez –, Tusk, ” Jacek Kucharczyk, Emmanuel Macron, Germany’s, Olaf Scholz, ” Kucharczyk, , Adnan Beci, Ursula von der Leyen, Chancellor Scholz, Keir Starmer –, , Scholz, Thomas Niedermueller, Italy’s, Giorgia Meloni, , Marta Welander, PiS, Poland’s, Kucharczyk Organizations: CNN, European Union Council, of Public Affairs, Wednesday, Getty, European Commission, EU, Committee, Law and Justice, SPD, ISIS, Locations: Brussels, Poland, EU, Belarus, Europe, Russia, Albania, Warsaw, AFP, EU’s, France, Luxembourg, Netherlands, Belgium, Denmark, Finland, Solingen, Hungary, Slovakia
Or perhaps it shows a defiant hero who is staring the enemy in the eye while fighting till the bitter end. When the Israel Defense Forces (IDF) announced the killing of Yahya Sinwar last week, they released several photos and a video showing the Hamas leader during his last moments alive and after his death. Internationally, it is under pressure over the mounting Palestinian death toll and horrific humanitarian situation in the strip. Avichay Adraee, the IDF’s Arabic spokesperson, said the IDF found huge sums of money, food and water in Sinwar’s hideouts. But Siegal said that there was likely another reason for the IDF releasing the video showing Sinwar all alone at the end.
Persons: Yahya Sinwar, Gershon Baskin, Baskin, Gilad Shalit, Netanyahu –, ” Baskin, Benjamin Netanyahu, Saladin, , Sinwar, , Netanyahu, ” Mustafa Barghouti, Shin Bet, , Mohammed Huwais, ’ Gil Siegal, ” Siegal, Mohammed Deif, Hassan Nasrallah, Avichay Adraee, ” Adraee, Adraee, Shira Efron, he’s, Siegal, CNN’s Nadeen Ebrahim, Abeer Salman, Dana Karni Organizations: Tel, Tel Aviv CNN, Israel Defense Forces, IDF, CNN, Palestinian National Initiative, CIA, Getty, Center for Medical Law, Bioethics, Ono Academic College, , Israel Policy, Hamas Locations: Tel Aviv, Israel, backchannels, Gaza, Palestine, Jerusalem, Yemen's, Sanaa, AFP, Sinwar’s hideouts,
CNN —Two missing US Navy aviators have been declared dead, several days after their aircraft crashed near Mount Rainier, Washington, during a training flight, the Navy said Sunday. Timothy Warburton, commander of the Electronic Attack Squadron 130, nicknamed the “Zappers,” said in a news release. An EA-18G Growler is an electronic warfare aircraft and variant of the F/A-18 Super Hornet. The unit the Growler belonged to recently completed a deployment in the Middle East aboard the USS Dwight D. Eisenhower. A news release this summer said the unit “scored the first-ever air-to-air kill by a VAQ squadron in Navy history” during the deployment.
Persons: Zappers, Cmdr, Timothy Warburton, , Dwight D, Eisenhower, Organizations: CNN, US Navy, Navy, Electronic, EA, Electronic Attack, US Army Special Forces, Sunday Locations: Mount Rainier , Washington, Mount Rainier,
Adding impetus to their effort is the fact Israeli military strikes are now hitting UN peacekeeping bases in southern Lebanon, which house European troops. European reproach of Israel reached new levels when Israeli military strikes began hitting posts of the UN peacekeeping mission in southern Lebanon. The UN has said Israel’s military has fired on its peacekeepers multiple times in recent weeks, injuring more than a dozen. ‘We have blocked everything’Italy’s Prime Minister Giorgia Meloni also condemned Israel’s actions in Lebanon, including an Israeli military strike that hit a UN peacekeeping base where around 1,100 Italian troops are stationed. In an earlier move that protested Israel’s war in Gaza, Spain, Ireland and Norway formally recognized Palestinian statehood in May.
Persons: CNN —, Benjamin Netanyahu, , ” Hugh Lovatt, Josep Borrell, Ali Moustafa, ” Lovatt, , Biden, It’s, ” Borrell, Lovatt, Israel, Maya Sion, Netanyahu, António Guterres, Emmanuel Macron, “ Netanyahu, Macron, Carl Court, ” Macron, ” Netanyahu, Borrell, Guterres, Giorgia Meloni, ” Meloni, Meloni, Tzidkiyahu, Keir Starmer, of National Security Itamar Ben, Bezalel Smotrich, David Cameron, Ben Gvir, Smotrich, ” Ben Gvir’s, Chancellor Olaf Scholz, Israel “ Organizations: CNN, UN, EU, North Africa, Foreign Relations, Hamas, European Union, Red Crescent, Reuters, UNIFIL, Europe, Agence France, Presse, United Nations Interim Force, AFP, Israel, UK, Stockholm International Peace Research Institute, Foreign Affairs Council, Getty, of National Security, Finance, Sky News, DPA, Nazi Locations: CNN — Israel, Gaza, Lebanon, Israel, East, Berlin, Rafah, Egypt, United States, , Iran, Spain, Ireland, Italy, France, Tzidkiyahu, Jerusalem, Paris, AFP, Marjayoun, Vichy, Stockholm, Germany, United Kingdom, Irish, Sion, Norway, Britain, Lebanese, Khiam, Palestine
Israel pounds Beirut and Gaza after rockets hit Israel's north
  + stars: | 2024-10-20 | by ( ) www.cnbc.com   time to read: +3 min
Israel struck what it said were Hezbollah arms facilities in southern Beirut on Saturday after the Lebanese armed group fired rockets into northern Israel and a spokesman said a drone was launched at Prime Minister Benjamin Netanyahu's holiday home. On Saturday, Israeli planes dropped leaflets over southern Gaza with a picture of Sinwar and the message: "Hamas will no longer rule Gaza". In Beirut's southern suburbs, Israel carried out heavy strikes on several locations, leaving thick plumes of smoke hanging over the city into the evening. The strikes targeted "a number of Hezbollah weapons storage facilities and a Hezbollah intelligence headquarters command center", Israel's military said. The United States would like to see Israel scale back some of its strikes in and around Beirut, U.S. Defense Secretary Lloyd Austin said.
Persons: Israel, Benjamin Netanyahu's, Netanyahu, Iran's, Yahya Sinwar, Beit Lahiya, Hassan Nasrallah, Lloyd Austin Organizations: Israel, U.S . Defense Locations: Hireyk, Dahieh, Beirut, Lebanon, Lebanese, Israel, Iranian, Gaza, Beit, Israeli, Iran, United States, U.S
AITOU, Lebanon — The scene of carnage in northern Lebanon showed heartbreaking snippets of everyday family life. Illy Edwan, whose villa in Aitou, Lebanon, was destroyed in the blast. Pages from a children’s book are strewn across the wreckage following an Israeli strike in Aitou, northern Lebanon, on Tuesday. More than 2,300 people, including 127 children, have been killed in Lebanon since the Oct. 7 attack and an estimated 1.2 million have been displaced, according to Lebanese officials. If they can’t, they will remain in Lebanon.”Emergency responders move a body bag following an Israeli strike in Aitou, Lebanon, on Tuesday.
Persons: Israel, Illy Edwan, , Ziad Jaber, Edwan, ” Jeremy Laurence, Benjamin Netanyahu, , Rema Jamous, Mohamed Youssef, Nermin Khair, Sandy, Bashar Hanouf, he’ll, ” Matt Bradley, Alexander Smith Organizations: NBC News, NBC, Israel Defense Forces, , United Nations, Hamas, Palestinian, Israel Locations: AITOU, Lebanon, Lebanese, Aitou, Beirut, , Israel, Gaza, Middle East, Tripoli, Turkish, Mersin, Nermin, London
Democratic Sen. Tammy Baldwin and Republican Eric Hovde sparred over abortion rights and economic issues Friday night during their first and only debate of a hotly contested Wisconsin Senate race that has tightened just weeks before Election Day. “Look, it’s been brought back to our state,” Hovde said during the exchange. It’s very clear that he has never read Roe v. Baldwin won her 2012 Senate race by more than 5 percentage points and her 2018 re-election contest by nearly 11 percentage points, demonstrating her appeal in rural areas. Baldwin received her undergraduate degree from Smith College in Massachusetts and graduated from the University of Wisconsin Law School.
Persons: Democratic Sen, Tammy Baldwin, Eric Hovde sparred, Hovde, Baldwin, “ Eric Hovde, , Roe, Wade, ” Baldwin, it’s, ” Hovde, , , , Amy Walter, you’ve, he’s, who’s, “ I’m, I’m, you’re Organizations: Democratic, Wisconsin Senate, U.S, Supreme, GOP, , Social Security, Washington , D.C, UW, “ Law, Smith College in, University of Wisconsin Law School, University of Wisconsin - Locations: Wisconsin, America, East, Ukraine, Washington, California, Washington ,, Smith College in Massachusetts, University of Wisconsin - Madison
Iran's Supreme Leader Ayatollah Ali Khamenei said on Saturday the death of Hamas leader Yahya Sinwar will not halt the "Axis of Resistance" and that Hamas would live on. "His loss is undoubtedly painful for the Axis of Resistance, but this front did not cease advancing with the martyrdom of prominent figures," Khamenei said in a statement. The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria. The groups describe themselves as the resistance to Israel and U.S. influence in the Middle East. "As always, we will remain by the side of the sincere fighters and combatants, by God's grace and help," Khamenei said.
Persons: Ayatollah Ali Khamenei, Yahya Sinwar, Khamenei Organizations: Iran's, Lebanese Hezbollah Locations: Israel, Gaza, Lebanese, Yemen, Iraq, Syria, U.S
CNN —The US is investigating a leak of highly classified US intelligence about Israel’s plans for retaliation against Iran, according to three people familiar with the matter. One of the documents, which says it was compiled by the National Geospatial-Intelligence Agency, says the plans involve Israel moving munitions around. Any such leak would automatically trigger an investigation by the FBI alongside the Pentagon and US intelligence agencies. The US is already on high alert about Iranian hacking campaigns — US intelligence agencies said in August that Iran had hacked documents belonging to Donald Trump’s campaign. Axios first reported on the leaked documents Saturday.
Persons: , Mick Mulroy, Mulroy, Donald Trump’s, Axios, CNN’s Evan Perez, Katie Bo Lillis Organizations: CNN, East Spectator, US, Iran, National Geospatial - Intelligence Agency, National Security Agency, FBI, Pentagon, CIA, National Security Council, National Intelligence, National Locations: Iran, Australia, Canada, New Zealand, United Kingdom, Israel, South Korea, Ukraine
A Telegram group posted what it says is leaked US intel on Israel's attack plans against Iran. AdvertisementA Telegram channel posted what it says are "highly classified" US intelligence documents analyzing Israel's plans to attack Iran. The region is bracing for an expected Israeli attack on Iran. Israeli officials have said it plans to retaliate for Iran's October 1 missile attack. The US announced this month it would send troops along with "a Terminal High-Altitude Area Defense (THAAD) battery" to Israel in response to Iran's attack.
Persons: , Hassan Nasrallah, Sean McFate, Benjamin " Bibi, Biden, Bibi, McFate Organizations: intel, Middle East Spectator, Service, East Spectator, Zionist, Department of Defense, Business, US, Defense, Syracuse University Locations: Iran, Islamic Republic of Iran, Israel
Advanced air defenses and anti-ship cruise missiles may also be on the table. Iran has ordered Su-35 fighters and also wants S-400 Triumf air defenses to, among other things, face Israel's superior missiles and air force. If all these deals do go forward, they would enhance the military capabilities of Iran and its allied militias. While the type of equipment was not specified, it could be the S-400 Iran has long sought. Iran is seeking Russia's S-400 air defenses.
Persons: , Su, Justin Bronk, Bronk, Anton Mardasov, hasn't, Mardasov, parry, Israel, Vladimir Putin Organizations: Service, Iran, Technology, Military Sciences, United Kingdom's Royal United Services Institute, The New York Times, Russian Defense Ministry, Anadolu Agency, Getty, Moscow, Iran's Locations: Russia, Iran, Israel, Ukraine, Tehran, East, Syria, Moscow, Saudi Arabia, United States, Russian, Kyiv, Panamanian, Lebanon
It’s this passion and unwavering drive to forge his own path that’s helped reshape fine dining in his birth home. Chef Sung Anh with his brother in the US Army (left) and with family in California (right). Mosu SeoulIn 2017, chef Sung opened Mosu Seoul in the heart of one of the world’s fastest-growing fine dining scenes. CNNAs recognition grows for South Korean food, chef Sung takes things further at Mosu Seoul, celebrating more than just local ingredients. “Chef Sung gives life and character to each dish I make, which I find very respectable.
Persons: Sung, , , Sung Anh, , Saddam Hussein, Mosu, “ I’ve, They’ve, Jong, Sangwoo Kim, Chef Sung, Paik Jong, Mosu —, ” Sung, Chung, Ceramicist Yoon Sol, Yoon Organizations: CNN, Michelin, Netflix, US Army, Korean, US, Porsche, West, Mosu, Acorn, Chefs, Mosu Seoul Locations: Iraq, Korea, American, Seoul, South, San Diego , California, US West Coast, South Korea, California, Vietnam, Baghdad, Dakota , Idaho, Puerto Rico, Hawaii, San Francisco, Mosu Seoul, Mosu, Hong Kong, , Komah, Sao Paulo, New York, Korean, Gangnam, Asia
Harvard donations are down following a year of campus turmoil. AdvertisementHarvard saw a dip in donations in the most recent fiscal year amid a wave of big-name backers pulling their financial support after fallout from the university's response to the Israel-Hamas war. In fiscal year 2024, which ended June 30, the Ivy League institution brought in just under $1.2 billion in cash gifts, according to a Harvard financial report released Thursday. Some wealthy alumni publicly vowed to suspend donations to Harvard following the university's bungled response to the campus unrest that spread across higher education institutions nationwide last year. Earlier this month, Garber hinted at the coming downturn in donations, telling the university's student newspaper, The Harvard Crimson, that the year's commitments were "disappointing" compared to prior years.
Persons: , Alan Garber, Garber, Ritu Kalra, Kalru, Karlu, Claudine Gay Organizations: Service, Harvard, Ivy League, University, Business, Harvard Crimson, Bloomberg Locations: Israel
At 19%, Asia Pacific had the largest revenue growth rate of all regions this quarter. Local content strategy and investment in original content is boosting Netflix's competitive edge. Company executives and industry experts say growth in Asia had a role to play as well. Revenue growth in North America and Europe, Middle East, and Africa was tied at 16% each. 'Persistence in Asia'Some industry experts who reacted to Netflix's earnings also pointed to its local content creation strategy.
Persons: , You've, Gregory Peters, Ben Silverman, Silverman, It's, Dan Da Dan Organizations: Netflix, Service, Company, Asia, CNBC, Media Partners Locations: Asia Pacific, Asia, Japan, Korea, Thailand, India, North America, Europe, Middle East, Africa
The Israeli military previously surrounded Sinwar’s house and carried out an intensive assault on his hometown of Khan Younis, but could not find him. The troops returned fire with a tank, then flew a drone into the heavily damaged building, according to the Israeli military. Sinwar had been trying to escape to the north when he was killed, said another Israeli military spokesperson on Thursday. The talks involved senior figures from Israel, Hamas, the United States, Qatar and Egypt. Mohammed Sinwar recently took over as Hamas’ military commander, a senior Israeli official told CNN last month.
Persons: Yahya Sinwar, Ismail Haniyeh, Benjamin Netanyahu, Sinwar’s, Khan Younis, Sinwar, biometrics, Mohammed Salem, Majdal –, , Israel, , it’s, Mohammed Deif, Joe Biden, Netanyahu, Mohammed Sinwar, Mohammed, Hassan Nasrallah, “ Sinwar, Mumen Khalili Organizations: CNN, Hezbollah, Sinwar, REUTERS, US Department of State, European Union Locations: Israel, Lebanon, Hamas, Iran, Gaza, Rafah, Jerusalem's Al, Gaza City, Al, Ashkelon –, United Kingdom, France, bunkering, United States, Qatar, Egypt
And it could bring the devastating war in Gaza closer to an end, experts say – if Israel and its allies can seize the opportunity. Before the war, power in Hamas was decentralized – with Gaza political chief Sinwar just one of many leaders, Chorev said. Shira Efron, a senior director of policy research at the Diane and Guilford Glazer Foundation said Sinwar’s killing gives Netanyahu the chance to claim a victory. Sinwar’s killing could also pave the way for a hostage and ceasefire agreement, since he was believed to be one of the main blockers of a deal. Chorev, from Tel Aviv University, added that Netanyahu could see Sinwar’s killing as a moment to cement his legacy.
Persons: Yahya Sinwar’s, Harel Chorev, Moshe Dayan, Sinwar, Chorev, “ Sinwar, Mohammed Deif, , Mohammed, Khalil Al Hayya, ” Chorev, Netanyahu’s, ’ Netanyahu, Shira Efron, Diane, Guilford, Netanyahu, , Einav Zangauker, Matan, Uzi Rabi, Critics of Netanyahu, Joe Biden, clawing, Rabi, Yoav Gallant, Efron, ” Efron Organizations: CNN, Israel, Moshe, Tel Aviv University, Gaza, Hamas ’, Hamas, Guilford Glazer Foundation, Locations: Israel, Gaza, Cairo, “ Israel, United States, Lebanon, Rafah, , Gaza’s
Israel killed Hamas leader Yahya Sinwar, the architect of the October 7 terrorist attacks. AdvertisementAfter a yearlong war against Hamas that reduced much of Gaza to ruins, Israel on Wednesday killed its top target: the Hamas leader Yahya Sinwar. Israel's military persisted, using heavy weapons, including 2,000-pound bunker-buster bombs, to target areas under Gaza where Sinwar and other Hamas leaders could have been hiding. During that time, Israel killed several Hamas leaders, including Mohammad Deif in Gaza, and Ismail Haniyeh in an audacious explosives attack in Tehran, Iran. A chance encounterA unit from the Israel Defense Forces (IDF) 828th Bislamach Brigade conducted Wednesday's operation in Gaza.
Persons: Israel, Yahya Sinwar, , Bashir Abbas, Sinwar, Mohammad Deif, Ismail Haniyeh, Abbas, Tal al, Joe Biden, Bin, Netanyahu Organizations: Service, Hamas, Wednesday, Stimson, Israel Defense Forces, 828th Bislamach Brigade, Royal United Services Institute, US Institute for, ISIS Locations: Israel, Gaza, Washington ,, Tehran, Iran, Rafah, Lebanon
Gold reached reached a new-all time high on Friday, topping $2,700 for the first time. Geopolitical tensions have been a driving force behind gold's record-setting rally in 2024. AdvertisementGold hit another record high amid simmering geopolitical unease in the Middle East. Futures climbed as much as 1% to $2,720 an ounce on Friday as the death of Hamas leader Yahya Sinwar late Thursday spurred renewed concerns of further geopolitical tension. According to analysts at ING, gold investors were responding to Israel's pledge to continue fighting, rather than de-escalate, per President Joe Biden's recommendation.
Persons: Gold, , Yahya Sinwar, Joe Biden's, They've, Israel, Benjamin Netanyahu, Joe Biden, Alex Kutsikevich, there's Organizations: Service, ING, Traders, Reuters, UN Locations: Iran, Asia
Nerad + Deppe Wealth Management's Steve Deppe found 12 other examples since 1950 when the S & P 500 ended October with a six-month trailing return above 10%. The six-month trailing return on the S & P 500 is currently north of 15%. On average, the S & P 500 gained 7.4% in November and December in all those other instances. "In 2024, it's very easy to want to take the money and run," Deppe told CNBC Pro from his office in La Jolla, California. .SPX YTD mountain The S & P 500, year to date Deppe currently expects the S & P 500 will finish 2024 above 6,000.
Persons: Steve Deppe, Harry Truman, Deppe, We've, we've Organizations: Federal Reserve, CNBC Pro Locations: La Jolla , California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael needs to confront Iran and not just fight its proxies, says Dan SenorDan Senor, former foreign policy advisor in the Bush administration, ‘The Genius of Israel’ co-author and ‘Call Me Back’ podcast host, joins 'Squawk Box' to discuss the killing of Hamas leader Yahya Sinwar, impact on the Israel-Hamas war and remaining Israeli hostages, state of Middle East tensions, and more.
Persons: Dan Senor Dan Senor, Bush, Israel ’, Yahya Sinwar Organizations: Israel Locations: Iran, Israel, Middle
Oil edges up, but on track for biggest weekly loss in over a month
  + stars: | 2024-10-18 | by ( ) www.cnbc.com   time to read: +2 min
Crude oil futures inched higher on Friday, supported by a surprise drop in U.S. oil inventories and simmering Middle East tensions, but prices were headed for their biggest weekly loss in more than a month on worries of lower demand. Both contracts settled higher on Thursday for the first time in five sessions after data from the Energy Information Administration showed that U.S. crude oil, gasoline and distillate inventories fell last week. "Speculative positioning across the ICE Brent complex strengthened from historically low levels, on heightened geopolitical risk of a potential Israeli strike on Iran's oil infrastructure," Citi analysts said in a note. Citi expects global oil demand to slow to 900,000 bpd in 2025 from 1 million bpd this year on an economic slowdown and as more electric vehicles hit the road. The "potential impact of China's emerging economic stimulus plans on oil demand is uncertain, and more robust support may only result in a limited boost," it added.
Persons: Brent, WTI Organizations: Brent, West Texas, Energy, Administration, of, Petroleum, International Energy Agency, ICE, Citi Locations: San Joaquin Valley, McKittrick , California, OPEC, Israel, Iran
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's too soon to write off the story in the Middle East entirely, says RBC's Helima CroftHelima Croft, RBC Capital Markets global head of commodity strategy, joins 'Squawk Box' to discuss the recent drop in oil prices, impact of MIddle East tensions and China demand, market outlook, and more.
Persons: RBC's Helima Croft Helima Croft Organizations: RBC Capital Markets Locations: China
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