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☆ Iran is threatening to break its fragile truce with Saudi Arabia: reports
▼ + stars: | 2024-10-11 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Iran has threatened to attack Saudi oil sites if the Gulf state supports an Israeli attack. AdvertisementThe fragile truce between longtime regional rivals Iran and Saudi Arabia could unravel if Gulf states allow Israel to use their airspace to strike Iran. He reportedly told the officials that Iranian-backed militias in Iraq or the Houthi militia in Yemen could be deployed against Saudi Arabia. It named Jordan, the United Arab Emirates, Saudi Arabia, and Qatar, all of which host US military bases, as countries Iran has threatened with reprisals. GetyAn Iranian attack would likely upend the truce brokered between Iran and Saudi Arabia by China in 2023 that saw the longtime rivals establish diplomatic contacts.

Persons: Abbas Araghchi, —, Ali Shihabi, Jordan, Naftali Bennet, they'd, Mohammed bin Salman's, may've, hasn't, Brent, Vladimir Putin's Organizations: Iranian Foreign Affairs, Reuters, Service, Iran, Foreign, Saudi, Street, United Arab, Hamas, European Council for Foreign Relations, Opec Locations: Iran, Saudi, Saudi Arabia, Israel, Riyadh, Islamic Republic, Iraq, Yemen, United Arab Emirates, Qatar, Lebanon, Syria, Gulf, Iranian, China, Ukraine

☆ Oil eases though investors wary over potential Mideast supply disruption
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: +2 min

Oil eased on Friday after a rally the previous day, but prices remained set for a second straight weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites. Brent crude oil futures fell 39 cents, or 0.5%, to $79.01 a barrel by 0152 GMT. "Oil prices are likely to hover around the current 200-day average levels, with the primary concern being whether Israel will retaliate against Iranian oil facilities," he said. Crude benchmarks spiked this month after Iran launched more than 180 missiles against Israel on Oct. 1, raising the prospect of retaliation against Iranian oil facilities. Israel has yet to respond, and crude benchmarks have eased and remained relatively flat through the week.

Persons: Hurricane Milton, Hiroyuki Kikukawa, Brent, WTI, Yoav Gallant Organizations: . West Texas, NS, Nissan Securities, Israeli, Hezbollah, Reuters, National Oil Corporation Locations: Norway, Brent, United States, Hurricane, Florida, Israel, Iran, Lebanon, Hamas, Gaza, Yemen, Beirut, Gulf, Washington

☆ CNN speaks to migrant domestic workers caught up in Israel’s war in Lebanon
▼ + stars: | 2024-10-11 | by ( Ladan Anoushfar | ) edition.cnn.com time to read: 1 min

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A major part of the fears is that the US’ influence with Israel has appeared to be steadily waning over the last year. Israel’s security cabinet has not yet reached a decision on how to proceed, an Israeli official told CNN on Friday. As of last week, Israel had not given any assurances that it would not target Iran’s nuclear facilities, CNN reported. Israel has for decades been planning attacks on Iran’s nuclear capabilities, and just two years ago simulated striking them in a military exercise. ‘Our strike will be powerful’Israel’s Defense Minister Yoav Gallant issued a strong warning to Iran about his country’s response on Wednesday.

Persons: CNN —, Israel, Joe Biden, Benjamin Netanyahu, Biden, Hassan Nasrallah, ”, “, Israel —, Yoav Gallant, ” Gallant, Jordan, Abbas Araghchi, Al, Netanyahu “, Araghchi, it’s, Ben Gurion, CNN’s Kayla Tausche, Dania Karni, Katie Bo Lillis Organizations: CNN, Israel, Wednesday, United Arab, US, Israel’s, Iran’s, Zionist Locations: Tehran, Israel, United Arab Emirates, Bahrain, Qatar, Arab, Iran, Damascus, Gaza, Lebanon, Beirut, France, cyberattacks, Saudi Arabia, Jordanian, backchannels, Washington, Yom, Tel Aviv

CNN —Concerns are mounting for the safety of United Nations peacekeeping forces in southern Lebanon amid Israel’s ground incursion, UN peacekeeping chief Jean-Pierre Lacroix warned on Thursday, after Israeli fire resulted in the injury of two UN troops. The UN Interim Force in Lebanon (UNIFIL) reported early Thursday that the peacekeepers were injured after an Israeli tank fired toward an observation tower at its headquarters in the southern Lebanese city Naqoura. “The IDF is operating in southern Lebanon and maintains routine communication with UNIFIL,” the IDF said in a statement after Thursday’s incident. UN peacekeepers have been stationed in southern Lebanon since 2006, per a mandate by the United Nations Security Council. Italy’s Prime Minister Giorgia Meloni summoned the Israeli ambassador in Rome on Thursday after what she described as “unacceptable” behavior by the Israeli forces.

Persons: Jean, Pierre Lacroix, Peace Operations Lacroix, ” Lacroix, ” UNFIL, ”, Farhan Haq, –, Indonesian –, Wafiq Safa, Giorgia Meloni, Stefano Messina, Yoav Gallant, “, Micheál Martin, Simon Harris, Foreign Affairs Josep Borrell Organizations: CNN, United Nations, UN, UN Security, Peace Operations, UN Interim Force, Israel Defense Forces, UNIFIL, IDF, Indonesian, United Nations Security Council, Hezbollah, Italy’s, Israel’s, Italian UNIFIL, Irish, European Union High Representative, Foreign Affairs Locations: Lebanon, Iran, Lebanese, “, Naqoura, Israel, Beirut, Italy, France, Ireland, Rome, Italian, ” France, EU

☆ Gold drifts higher after data supports U.S. rate-cut bets
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: +2 min

Gold prices climbed on Friday after recent data supported bets for a Federal Reserve interest rate cut next month, while market participants awaited the U.S. Producer Price Index report for further direction. Spot gold rose 0.5% to $2,641.70 per ounce by 0245 GMT but was down about 0.4% for the week. Data on Thursday showed that U.S. consumer prices rose slightly more than expected in September, while jobless claims increased to 258,000 in the week ended Oct. 5, versus estimates of 230,000. "Gold is seeing short-term gains as recent data has been positive. If the PPI data comes in softer, gold's momentum could continue upward," said Kelvin Wong, OANDA's senior market analyst for Asia Pacific.

Persons: Price, Kelvin Wong, OANDA's, CME's Organizations: Federal, PPI, Asia Locations: Tokyo, Japan, CME's FedWatch, Beirut

JPMorgan Chase CEO and Chairman Jamie Dimon speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023. JPMorgan Chase CEO Jamie Dimon sees risks climbing around the world amid widening conflicts in the Middle East and with Russia's invasion of Ukraine showing no signs of abating. "We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse," Dimon said Friday in the bank's third-quarter earnings release. "It's ratcheting up, folks, and it takes really strong American leadership and western world leaders to do something about that," Dimon said. "While inflation is slowing and the U.S. economy remains resilient, several critical issues remain, including large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world," Dimon said.

Persons: Jamie Dimon, JPMorgan Chase, Dimon, I've Organizations: JPMorgan Chase, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, JPMorgan, Georgetown University, Federal Reserve Locations: Washington , U.S, Ukraine, East, China, Iran, North Korea, Russia, Israel, Beirut, Lebanon, U.S

☆ Israel is trying to dismantle Hezbollah's leadership, but there's a big problem
▼ + stars: | 2024-10-10 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

Israel has been targeting Hezbollah's leaders with a series of air strikes. Hezbollah's leadership crisis may lead to internal power struggles and strategic shifts. AdvertisementIsrael is continuing its relentless campaign to dismantle Hezbollah's leadership. Israel says it killed Hezbollah chief Hassan Nasrallah in an airstrike on Beirut. As well as taking out Hezbollah's leadership with strikes in Lebanon and Gaza, Israel is also weighing up a counterattack against Iran after it launched a ballistic missile attack.

Persons: —, Hassan Nasrallah, Hezbollah's, Fu'ad, Ali Karaki, Ibrahim Aqeel, Hashem Safieddine, Israel, Chris McGrath, Benjamin Netanyahu, it's, Netanyahu, Mohammed Albasha, Albasha, Antony Loewenstein, KAWNAT HAJU, William F, Wechsler, Abbas al, Mireille Rebeiz, Nasrallah, Al, Ahmet Kaya Organizations: Service, Israel, Palestine, Sky News, Getty, Atlantic Council, Rafik Hariri Center and Middle, Islamic Jihad Organization, Middle East, Dickinson College, UK's National Institute of Economic, Social Research, CNN Locations: Israel, Syria's, Golan, Beirut, Chris McGrath Israeli, US, Lebanon, AFP, Rafik, Buenos Aires, Iran, Pennsylvania, Gaza

CNN —An Israeli airstrike killed at least 28 people and wounded dozens more sheltering at a school in Deir al-Balah, central Gaza, on Thursday, the Palestine Red Crescent Society said. The attack on the Rafidah school injured at least 54 Palestinians, according to the Red Crescent. Thursday’s strike is the latest to hit a school in Gaza. Last month, an Israeli strike on a school compound near Gaza city, killed at least 22 people, mostly women and children, according to Palestinian officials. Israel confirmed it carried out the strike, saying it had targeted a Hamas command post and killed several fighters.

Persons: Israel Organizations: CNN, Palestine Red Crescent Society, Crescent . Locations: Deir al, Gaza, Palestine, Crescent, Al, Daraj, Gaza City, Israel, Lebanon, Iran

☆ Tiffany Trump is pregnant, former president says
▼ + stars: | 2024-10-10 | by ( Ali Main | Shania Shelton | ) edition.cnn.com time to read: +1 min

CNN —Former President Donald Trump said Thursday that his youngest daughter, Tiffany, is pregnant. So that’s nice,” the former president said at the Detroit Economic Club in Michigan. Michael Boulos and Tiffany Trump were married at Mar-a-Lago in November 2022. Tiffany Trump is the only child of the former president and his second wife, Marla Maples. The meeting marked a distinct effort on behalf of Trump supporters to win over Arab and Muslim Americans disillusioned with President Joe Biden over his continued support for Israel in its ongoing war with Hamas.

Persons: Donald Trump, Tiffany, “ She’s, Trump, ”, Michael Boulos, Massad Boulos, Tiffany Trump, Marla Maples, Michael Boulas, Richard Grenell, Joe Biden Organizations: CNN, Detroit Economic, Mar, Georgetown Law School, Republican National Convention, RNC, Muslim, Trump, Israel Locations: Michigan, Lago, Maples, California, Manhattan, Milwaukee, Lebanon, Germany

"You have an opportunity to save Lebanon before it falls into the abyss of a long war that will lead to destruction and suffering like we see in Gaza," Netanyahu said in a video address Tuesday delivered in English. Israeli soldiers raise their national flag in Lebanon's southern border village of Maroun al-Ras. And Wednesday, a video, geolocated by NBC News, stoked outrage: Israeli soldiers raising the country's flag on the outskirts of a border village. Lebanese people who spoke to NBC News on Wednesday bristled at Netanyahu’s warning, with some also mocking the footage of Israeli soldiers planting the flag in the southern village of Maroun Al-Ras. Israel’s invasion of Lebanon amid its 1982 civil war resulted in a nearly two-decade occupation of the country’s south.

Persons: Benjamin Netanyahu, Netanyahu, Israel's, Scott Peterson, ” Netanyahu, Gerges, “, ” Yossi Mekelberg, Mekelberg, ”, Hisham Karameh, ” “, ” Karameh, Matthew Miller Organizations: Israeli, United Nations, Getty, Israel, . Security, London School of Economics, NBC News, Chatham House’s, North Africa, Health Ministry, AFP, State Department Locations: Israel, Gaza, Lebanon, Beirut, Iran, East, Maroun, Maroun Al, ” “ Israel, “, Dahieh

Harris advisers often publicly dismiss the polls, acknowledging that the race is close and will remain so leading up to Election Day. Others want to focus on mobilizing men and men of color to turn out – a demographic that remains a point of concern among Harris campaign officials. And I am running like the underdog because I am the underdog in this race,” Harris told donors at a fundraiser in late September. “When Black voters are getting inundated by anti-Harris mail, anti-Harris ads, the face-to-face conversations matter even more,” the operative said. Harris campaign surrogates have told CNN that there is also still a lot to do to shore up support among Latinos in the final weeks before Election Day.

Persons: Joe Biden, Kamala Harris, Harris, Donald Trump, Trump, Harris ’, “, Hillary Clinton, Biden, Clinton, ” Brendan McPhillips, John Murtha Johnstown, Andrew Harnik, ” Harris, Dan Kanninen, ”, we’ve, ” Kanninen, –, ” Patrick Murray, Murray, would’ve, ” Murray, Evelyn Hockstein, don’t, outpacing Harris, Anthony West, ” West, Cedric Richmond, ” Richmond, surrogates, “ There’s, Adriano Espaillat, Chuck Rocha, it’s Organizations: CNN, Democratic, “, Democrats, Trump, Pennsylvania, Cambria, Biden, Electoral, Monmouth University Polling Institute, Dort Financial, Reuters, Black, NAACP, White, Department of Justice, Collective PAC, ”, Black Colleges, Universities, Georgia, Former Louisiana Rep, Social Security, ” New York Democratic Locations: Israel, Gaza, Lebanon, Cambria County, Pennsylvania, Johnstown , Pennsylvania, Cambria, Monmouth, Dort, Flint , Michigan, Milwaukee, San Francisco, Black, Georgia

☆ Lebanon's ambassador to the UK discusses tensions in the Middle East
▼ + stars: | 2024-10-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLebanon's ambassador to the UK discusses tensions in the Middle EastRami Mortada, ambassador of Lebanon to the U.K., says Israel is trying to force a shift in the strategic paradigm in Lebanon and the region.

Persons: Rami Mortada Locations: Lebanon, Israel

☆ Oil prices steady after sliding on potential Israel-Hezbollah ceasefire
▼ + stars: | 2024-10-09 | by ( ) www.cnbc.com time to read: +2 min

Oil prices steadied in Asian trading on Wednesday, as traders weighed uncertainty surrounding developments in the Middle East conflict against continued bearish fundamentals. Brent crude futures rose 11 cents, or 0.14%, to $77.29 a barrel by 02:23 GMT. Prices had plunged more than 4% in the previous session on a possible Hezbollah-Israel ceasefire, but markets remain wary of a potential Israeli attack on Iran's oil infrastructure. Hezbollah officials on Tuesday appeared to back off from a truce in Gaza as a condition for a ceasefire in Lebanon. The U.S. EIA on Tuesday downgraded its 2024 forecast for global oil demand growth by 20,000 barrels per day (bpd), to 103.1 million bpd, because of weaker industrial production and manufacturing growth in the U.S. and China.

Persons: Hezbollah's, Naim Qassem, Hurricane Milton, Tony Sycamore Organizations: Brent, . West Texas, Macquarie, Reuters, American Petroleum Institute, U.S, EIA, IG . Florida Locations: Israel, Iran, Gaza, Lebanon, U.S, China, Hurricane, Coast, Tampa

ISRAEL LEBANON Israeli armored vehicles crossed the border Vehicle tracks Israeli vehicles in a bulldozed area Vehicle tracks Israeli vehicles in a bulldozed area Flattened buildings Israeli armored vehicles YAROUN YAROUN Israeli vehicles in a bulldozed area LEBANON ISRAEL Flattened buildings Vehicle tracks Israeli armored vehicles crossed the border Vehicle tracks Israeli vehicles in a bulldozed area ISRAEL Israeli armored vehicles crossed the border LEBANON Vehicle tracks Israeli vehicles in a bulldozed area Vehicle tracks Israeli vehicles in a bulldozed area Flattened buildings Israeli armored vehicles YAROUN ISRAEL LEBANON Israeli armored vehicles crossed the border Vehicle tracks Israeli vehicles in a bulldozed area Vehicle tracks Israeli vehicles in a bulldozed area Flattened buildings Israeli armored vehicles YAROUN Source: Satellite image by Planet Labs, Oct. 5Tank tracks leading from Israel across the border to the Lebanese village of Yaroun are visible in satellite images taken on Saturday by Planet Labs, a commercial satellite provider. So are newly constructed banks of earth where the Israeli military set up positions for tanks and other military vehicles. Over the past week, the Israeli military has flattened large parts of two border villages: Maroun al-Ras and Yaroun, seen in the video above that was filmed by the Israeli military and verified by The Times. Aug. 28, 2024 Rubble YAROUN Destroyed buildings Rubble YAROUN Destroyed buildings Oct. 5, 2024 YAROUN Area flattened YAROUN Area flattened Oct. 5, 2024 Newly destroyed buildings Appears burned YAROUN Appears burned Newly destroyed buildings Appears burned YAROUN Appears burned Even before the ground invasion, months of rocket strikes had damaged Yaroun, this satellite imagery from the summer shows. Aug. 28 MAROUN AL-RAS Destroyed building MAROUN AL-RAS Destroyed building Oct. 5 Israeli military vehicles Vehicle tracks Israeli military vehicles MAROUN AL-RAS Vehicle tracks Vehicle tracks Israeli military vehicles Vehicle tracks MAROUN AL-RAS Oct. 5 Newly destroyed buildings MAROUN AL-RAS Destroyed mosque Flattened area Newly destroyed buildings Destroyed mosque MAROUN AL-RAS Flattened area Maroun al-Ras has seen fighting before: It was the scene of a major battle during Israel’s 2006 invasion of Lebanon.

Persons: Israel, Israel Maroun, Ras, Ras Naqoura, Maroun, Ali Qassem Tafeh, Hassan Awada, MAROUN, Balakrishnan Rajagopal, ”, ” Mr, Rajagopal, Tafeh, Hussein Jaafar, Yaroun's, “ Organizations: Hezbollah, The New York Times, Planet Labs, The Times, United Nations Interim Force, New York Times, Times, United Nations, Hague Convention, National News Agency Locations: Yaroun, Lebanon, ISRAEL LEBANON Israeli, LEBANON ISRAEL, Israeli, LEBANON Israeli, Israel, Lebanese, Lebanon Israel Nabatieh, Litani, Deir Aames, Area, Gaza, Maroun, Jerusalem, Geneva

☆ Biden held ‘direct,’ 30-minute call with Netanyahu, White House says
▼ + stars: | 2024-10-09 | by ( Kevin Liptak | ) edition.cnn.com time to read: +6 min

Biden has grown frustrated that Netanyahu appears to brush off his advice and recommendations, and to publicly reject his attempts at lowering regional temperatures. Biden last week made clear he expected to speak with Netanyahu ahead of any potential reprisal against Iran for its missile onslaught. Still, she acknowledged the significance of the conversation, the first between Biden and Netanyahu since August 21. Still, Biden was insistent that he speak to Netanyahu ahead of Israel’s next steps, believing it important to convey his views directly. The White House, which has declined to comment on those reports, has insisted the two men maintain a functional relationship.

Persons: Joe Biden, Benjamin Netanyahu, Israel’s, “, Karine Jean, Pierre, Biden, Netanyahu, Donald Trump, Biden’s, Biden “, ”, unstick, Kamala Harris, Dana Bash, Hurricane Milton, Simon Harris, Still, Bob Woodward, ” Jean, Pierre said Organizations: CNN, Wednesday, ”, Hurricane Locations: Iranian, Lebanon, Iran, Israel, Beirut, ”, Gaza, New York, Gaza . Irish, Washington, Ireland, Israel’s

☆ Air France says jet flew over Iraq as Iranian missiles descended on Israel
▼ + stars: | 2024-10-09 | by ( Christian Edwards | Saskya Vandoorne | ) edition.cnn.com time to read: +3 min

CNN —Air France has opened an investigation into how a jet flying from Paris to Dubai went over Iraq as Iranian missiles fired at Israel crossed the same airspace, the airline said Wednesday. The missiles had to pass through Iraq’s airspace to reach Israel. Air France Flight AF662 was flying over Iraq when the Iranian attack began at around 4:45 p.m. UTC (11.45 a.m. “Thanks to the information we gathered we were able to identify a forthcoming attack on Israel by Iran, involving the launch of ballistic missiles,” Air France said. “As a result, and without waiting for instructions from the Iraqi authorities, Air France decided to suspend the overflight of the country’s airspace by its aircraft from 5 p.m. UTC [12 p.m.

Persons: Hassan Nasrallah, AF662, ”, Benjamin Netanyahu Organizations: CNN — Air, Israel, Air, CNN, ” Air, “ Air France, Air France Locations: CNN — Air France, Paris, Dubai, Iraq, Iranian, Israel, Iran, Lebanon, ” Air France, Air France, Tehran

On the anniversary of the October 7 Hamas attacks, Gaza’s north was hit with more Israeli strikes, with no end in sight to the war devastating the enclave. Israel’s objective of defeating Hamas still seems far from reach as its military offensives in Gaza continue to ramp up. Israel launched a new ground operation in northern Gaza on Sunday and encircled the Jabalya refugee camp, where it says it saw signs of Hamas regrouping. Earlier this year, Israel’s military said it had defeated Hamas in northern Gaza, only to announce new offensives there in May. The camp was targeted early on in Israel’s response to Hamas’ attacks one year ago and has been struck several times during the war.

Persons: ”, haven’t, ” Lena, Philippe Lazzarini Organizations: Hamas, United Nations, Residents, CNN, Mercy Corps, UN, UNRWA Locations: Gaza, Israel, Jabalya, Israeli

☆ There is no evidence Iran has decided to rush toward building a nuclear weapon, CIA director says
▼ + stars: | 2024-10-08 | by ( Dan De Luce | Dan De Luce Is A Reporter For The Nbc News Investigative Unit. | ) www.nbcnews.com time to read: +5 min

Speaking at the Cipher Brief security conference in Sea Island, Georgia, Burns said Iran has advanced its nuclear program by stockpiling uranium enriched to near weapons-grade levels. CIA Director William Burns during a hearing of the House (Select) Intelligence Committee in Washington, D.C., on March 12, 2024. Iran has developed the “means of delivery” for a potential nuclear weapon by building up its missile arsenal, he said. The JCPOA imposed strict limits on Tehran’s nuclear program while easing economic sanctions on the country. Estimates vary as to how much time it would take Iran to build a viable nuclear weapon once it has acquired enough fissile material.

Persons: William Burns, Burns, Anna Moneymaker, ” Burns, Ayatollah Ali Khamenei, Donald Trump, “, —, ”, Israel Organizations: CIA, Intelligence, Washington , D.C, Iran’s Locations: Iran, U.S, Iranian, Sea Island , Georgia, Washington ,, Tehran “, Lebanon, Israel, Gaza, United States, Russia

☆ Massive Israeli airstrikes hit 120 targets in Lebanon. See video of explosion in Beirut
▼ + stars: | 2024-10-08 | by ( Augusta Anthony | ) edition.cnn.com time to read: 1 min

☆ Israel may have military superiority, but it lacks a clear strategic vision, say experts
▼ + stars: | 2024-10-08 | by ( Thibault Spirlet | Hannah Abraham | ) www.businessinsider.com time to read: +7 min

Experts told BI that Israel still lacks a long-term strategic vision on how to end the war. But while Israel may have military superiority in the region, it lacks a clear, long-term strategic vision to end conflict in the Middle East, according to security experts. It's clear the Israel Defense Forces have achieved a series of tactical gains in recent weeks, but they still lack a clear military strategy, security analysts told Business Insider. "Neither outcome achieves Israel's security objectives, which would represent a defeat for the IDF and could threaten the survival of Israeli Prime Minister Benjamin Netanyahu's government," Pfaff said. The problem may be that Israel's security doctrine has long been based on short wars.

Persons: Israel, —, Burcu, Benjamin Netanyahu, Bashir Abbas, Chris Doyle, Doyle, They're, Anthony Pfaff, Pfaff, Benjamin Netanyahu's, " Pfaff, Moody's, Will, Edmund Fitton, Brown, Donald Trump, Netanyahu, Kamala Harris, Daniel Hoffman Organizations: Service, Israel Defense Forces, Middle East Security, Royal United Services Institute, Israel's, Stimson Center, Council, Strategic Studies, US Army War College, Guardian, of Israel, CNN, Counter, CIA, Fox Business Locations: Iran, Lebanon, Gaza, Iraq, Syria, Israel, Beirut, British, Moody's Israel

☆ Strait of Hormuz: A 21-mile-wide channel is key to cheap gas. It’s under threat
▼ + stars: | 2024-10-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Global oil prices have spiked in recent days as the conflict in the Middle East has reached fever pitch. They could rise yet further if Israel’s widening war embroils the vital Strait of Hormuz off Iran’s southern coast. About one-fifth of the world’s global oil trade passes through the strait every day, notes Simone Tagliapietra, a senior fellow at Brussels-based think tank Bruegel. It also accounts for about a quarter of the world’s daily trade in liquefied natural gas. But if oil trade through the critical Strait of Hormuz wobbles, prices could soar above $100 a barrel, according to research firm ClearView Energy Partners, sending gasoline prices surging.

Persons: Simone Tagliapietra, Hassan Nasrallah, Yoav Gallant, ” Tagliapietra, Brent, Richard Bronze, “ Organizations: London CNN —, US Energy Information Administration, Israel’s, CNN Sunday, Israel . West Texas Intermediate, ClearView Energy Partners Locations: Hormuz, Brussels, Iran, Israel, Lebanon, United States, China

☆ Hezbollah endorses Lebanon ceasefire efforts for the first time as Israel ramps up offensive
▼ + stars: | 2024-10-08 | by ( Abbas Al Lawati | ) edition.cnn.com time to read: +3 min

Lebanon’s Hezbollah began firing at Israel on October 8 last year to show solidarity with Hamas, which had launched an attack on Israel from Gaza a day earlier. Hezbollah had previously stated that it would only cease its attacks on Israel once a ceasefire was reached with Hamas in Gaza. Israel, however, insisted that Hezbollah separate its conflict with Israel from the ongoing war with Hamas. It was Qassem’s second speech since Israel assassinated Hezbollah leader Hassan Nasrallah late last month. Israel has since been conducting limited ground incursions into southern Lebanon targeting Hezbollah, which has continued to fire rockets into northern Israel.

Persons: Nabih, Naim Qassem, Lebanon’s, Qassem, Hassan Nasrallah, Nabih Berri, Abdallah Bou Habib, Nasrallah, Joe Biden, Emmanuel Macron, Biden, isn’t, Mohamed Azakir, Reuters Tzipi, Nasrallah hadn’t, Bou, Kiryat Motzkin Organizations: CNN, Hamas, Hezbollah, Amal, Lebanese, US, UN, Assembly, Reuters, Sky News, Israel, Israel Defense Forces Locations: Lebanon, Gaza, Berri, Israel, Gaza . Israel, Iran, Beirut's, Hadath, Haifa, Kiryat, Kiryat Yam

☆ Oil edges lower after rallying to highest in over a month on Middle East war risk
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: +2 min

An oil pumpjack (L) operates as another (R) stands idle in the Inglewood Oil Field on January 28, 2022 in Los Angeles, California. Oil prices edged lower in early Asian trading hours on Tuesday as traders booked profits after prices rallied to their highest in over a month on Monday amid fears that the Middle East could be on the brink of a region-wide war. Israel has sworn to retaliate and is weighing its options, with Iran's oil facilities considered a possible target. However, some analysts believe that an attack on Iranian oil infrastructure is unlikely and have warned that oil prices could face considerable downward pressure if Israel focuses on any other target. U.S. crude oil inventories are expected to rise by 1.9 million barrels in the week ended Oct. 4, according to a preliminary Reuters poll.

Persons: Israel, Hurricane Milton Organizations: Inglewood Oil Field, . West Texas, Organization of Petroleum, ANZ Bank, American Petroleum Institute, Energy, Administration Locations: Inglewood, Los Angeles , California, Middle, Iran, Haifa, Israel, Lebanon, Gaza, Hurricane, Florida, U.S . Gulf of Mexico, .

☆ Gold eases as dollar firms; focus on Fed cues, U.S. data
▼ + stars: | 2024-10-08 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was down 0.2% to $2,639.45 per ounce, as of 0303 GMT. U.S. gold futures lost 0.3% to $2,658.70. The dollar index hovered near a seven-week high, making bullion more expensive for holders of other currencies, while the benchmark U.S. Treasury 10-year yield topped 4% for the first time in more than two months. Investors are focused on the minutes of the Fed's latest policy meeting, due on Wednesday, followed by the U.S. Consumer Price Index on Thursday and the Producer Price Index data on Friday. "Looking ahead, if we see any upside surprises in the U.S. CPI numbers this week, this could boost further boost the dollar and pressure gold," Waterer added.

Persons: Gold, Tim Waterer, Israel, Bullion, Waterer, Louis, Alberto Musalem Organizations: Treasury, KCM Trade, U.S . Consumer, U.S, CPI, Louis Fed Locations: Singapore, Haifa, Lebanon, Gaza, St

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