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☆ 'A very unique battle': How geography could shape Israel's expected ground offensive in Gaza
▼ + stars: | 2023-10-16 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

Ahead of such an attack, one military geography specialist outlined to CNBC how the physical features of the Gaza Strip could influence any fighting. He warned, however, that any kind of ground offensive from Israel's military would be a highly dangerous "cat and mouse game" of urban warfare, one with a particularly unique subterranean element. Anadolu Agency | Anadolu Agency | Getty ImagesThe Gaza Strip is a narrow portion of land sandwiched between Israel, Egypt and the Mediterranean Sea. "We have to destroy Hamas on the ground to find Hamas members within the underground tunnels, in the holes, in their headquarters," Amidror said Friday. watch nowIndeed, Galgano said Hamas' likely best defense against Israel's forthcoming ground offensive would be to stay underground in its tunnel system.

Persons: Din, Francis Galgano, Galgano, Yaakov Amidror, Benjamin Netanyahu, Amidror Organizations: Hamas, Getty, Israel, Palestinian, United Nations, CNBC, Department, Environment, Villanova University in, Anadolu Agency, U.S . Army, Israel's National Security Council, Israel's Locations: Gaza, Israel, Villanova University in Pennsylvania, Philadelphia, Anadolu, Egypt, Gaza City, winkle, Hamas

☆ Oil prices rise over 4% after U.S. tightens sanctions on Russian crude sales
▼ + stars: | 2023-10-13 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Oil prices on Friday rose more than 4% after the U.S. tightened sanctions against Russian crude exports, exacerbating supply concerns in an already tightly balanced energy market. International benchmark Brent crude futures with December expiry traded 4.2% higher at $89.55 per barrel at around 8:15 a.m. ET, while front-month November U.S. West Texas Intermediate crude futures rose 4.2% to trade at $86.38 per barrel. The G7, Australia and the EU implemented a $60-per-barrel price cap on Russian oil on Dec. 5 last year. It came alongside a move by the EU and U.K. to impose a ban on the seaborne imports of Russian crude oil.

Organizations: U.S, Brent, West Texas, U.S . Department of, Treasury, EU Locations: Australia, Ukraine

☆ Ukraine war live updates: Ukraine ‘holding positions’ as fighting rages in key eastern city; Putin to meet with world leaders
▼ + stars: | 2023-10-13 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Ukrainian soldiers fire artillery on Russian positions on the frontline in the city of Avdiivka, Donetsk Oblast, Ukraine on July 27, 2023 amid Russia-Ukraine war. Ukrainian forces on Friday sought to hold back Russia's advances in and around the strategically important city of Avdiivka. The industrial hub of Avdiivka is regarded as the gateway to Donetsk, the capital of the eastern Donbas region. Ukraine's state emergency services said one person was killed and 12 others were injured in a Russian attack on Ukraine's eastern city of Pokrovsk. Meanwhile, Russian President Vladimir Putin is scheduled to meet with world leaders at a summit of the Commonwealth of Independent States, an international grouping of former Soviet republics.

Persons: Andriy Yermak, Volodymyr Zelenskyy, Vladimir Putin Organizations: Kremlin, Commonwealth of Independent Locations: Avdiivka, Donetsk Oblast, Ukraine, Russia, Ukrainian, Donetsk, Pokrovsk, Commonwealth of Independent States, Soviet, Kyrgyzstan, Bishkek

☆ What is Israel's Iron Dome? Here’s what you need to know about the missile defense system
▼ + stars: | 2023-10-12 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

Israel's Iron Dome anti-missile system intercepts rockets launched from the Gaza Strip, as seen from the city of Ashkelon, Israel October 9, 2023. What is Israel's Iron Dome? The Iron Dome, or "Kippat Barzel" in Hebrew, is widely regarded as one of the most important tools in Israel's arsenal. An Iron Dome launcher fires an interceptor missile as rockets are fired from Gaza, in Ashkelon, Israel May 10, 2023. The Center for Strategic International Studies, a U.S. think tank, has previously estimated that a complete Iron Dome battery costs roughly $100 million to produce.

Persons: Amir Cohen, Israel, Rafael, —, Tamir Organizations: Reuters, Palestinian Ministry of Health, Israel's Defense Ministry, Iron Dome, European Union, Rafael Advanced Defense Systems, Reuters Israel's Defense Forces, Dome, Congressional Research Service, Strategic International Studies Locations: Gaza, Ashkelon, Israel, Reuters Israel, Jihad, U.S, Washington

☆ 'Fraught with uncertainty': IEA says oil markets to remain on tenterhooks as Israel-Hamas war persists
▼ + stars: | 2023-10-12 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

The International Energy Agency on Thursday said that oil markets are likely to remain on edge as the Israel-Hamas war persists, with investors closely monitoring the potential for output disruption in the Middle East. "The Middle East conflict is fraught with uncertainty and events are fast developing," the IEA said in its report. "Against a backdrop of tightly balanced oil markets anticipated by the IEA for some time, the international community will remain laser focused on risks to the region's oil flows," the energy agency added. Noting a "sharp escalation in geopolitical risk," the IEA said it would continue to closely monitor oil markets and "stands ready to act if necessary to ensure markets remain adequately supplied." Israel is not a major oil producer and no major oil infrastructure runs close to the Gaza Strip.

Organizations: International Energy Agency, IEA Locations: Kawasaki, Kanagawa Prefecture, Japan, Israel, Gaza

☆ Satellite images show the scale of destruction in Gaza as Israel responds to surprise Hamas attack
▼ + stars: | 2023-10-11 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

People carry their belongings around destroyed buildings and debris at the Al-Karama neighborhood after an Israeli airstrike that has been going on for five days in Gaza City, Gaza on October 11, 2023. Satellite images depict the scale of the devastation in Gaza following a barrage of Israeli airstrikes in response to Hamas' unprecedented assault. U.S. space technology firm Maxar Technologies on Tuesday published a fresh batch of satellite images that show the aftermath of recent airstrikes in and around the enclosed territory of Gaza. Israel is expected to launch a ground offensive on the Gaza Strip in an attempt "to make sure Hamas won't have any military capabilities." The counteroffensive against the Palestinian militant group Hamas follows a brutal and coordinated assault on southern Israel over the weekend.

Persons: Benjamin Netanyahu's Organizations: Maxar Technologies, Palestinian, Hamas Locations: Karama, Gaza City, Gaza, Israel

☆ What is Hamas? What you need to know about the militant group that rules the Gaza Strip
▼ + stars: | 2023-10-10 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

The militant Palestinian group orchestrated an unprecedented attack on Israel on Saturday, killing many hundreds of people and injuring thousands more. Israel's counteroffensive against Hamas has seen its military conduct a barrage of airstrikes across the enclosed territory of the Gaza Strip, also killing many hundreds of people. Pro-Palestinian demonstrators protest at Puerta del Sol square amid the ongoing conflict between Israel and the Palestinian militant group Hamas, in Madrid, Spain, October 9, 2023. Relief and Works Agency said that conditions in the Gaza Strip remain "difficult" as heavy airstrikes continue, with some shelters overcrowded. watch now"I am deeply distressed by today's announcement that Israel will initiate a complete siege of the Gaza Strip.

Persons: Mahmud Hams, Benjamin Netanyahu, Sameh, Ismail Haniyeh, Fatah, Juan Medina, Israel, Antonio Guterres, Basim Naim, BBC's, Naim, Israel's Netanyahu Organizations: Brigades, Afp, Getty Images Hamas, Israeli, Hamas, Nurphoto, Palestinian Health Ministry, Israeli Defense Forces, European Union, Movement, West Bank —, United Nations, Palestinian National Liberation Movement, Palestinian National Authority, West Bank, Pro, Puerta del Sol, Palestinian, Reuters, Works Agency Locations: Gaza, Mahmud, Israel, Hamas, Gaza City, U.S, Japan, Australia, Palestine, Palestinian, Madrid, Spain, Iran

☆ OPEC hikes long-term oil demand outlook — in stark contrast to other predictions of peak crude
▼ + stars: | 2023-10-09 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

OPEC on Monday raised its medium- and long-term forecasts for global oil demand. OPEC's long-term forecast for global oil demand diverges from that of the International Energy Agency, the world's leading energy watchdog. OPEC and the IEA, both big names in the energy industry, are currently locked in a war of words over peak oil demand. For its long-term oil demand forecast to be met, OPEC said oil sector investments of $14 trillion, or around $610 billion on average per year, would be needed. In the medium term, OPEC said global oil demand was likely to reach a level of 110.2 million bpd in 2028, reflecting a jump of 10.6 million bpd when compared to 2022 levels.

Persons: Haitham, Ghais Organizations: International Energy Agency, OPEC, Oil Outlook Locations: Nolan , Texas, OPEC, India, China, Africa

☆ Philips shares fall 8% after U.S. drug regulator deals fresh blow to sleep device recall
▼ + stars: | 2023-10-06 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Shares of Dutch health tech company Philips tumbled to the bottom of the European benchmark on Friday, after the U.S. drug regulator deemed its handling of a major product recall inadequate. The Amsterdam-listed stock was trading more than 8% lower at 1:15 p.m. London time, paring some losses after falling by as much as 10% earlier in the session. The announcement reflects yet another blow to Philips over the recall of millions of ventilators used to treat sleep apnea, which CEO Roy Jakobs earlier this year said would be the the firm's "highest priority." The FDA said it finds additional testing is necessary and noted Philips agreed to carry out this request. The company added that it shares the same objective as the FDA and other regulators "to ensure the highest standards of patient safety and quality in the delivery of healthcare."

Persons: Roy Jakobs, Philips Organizations: Philips, U.S . Food, Drug Administration, FDA Locations: U.S, Amsterdam, London

European stocks moved higher on Friday as market participants brace themselves for U.S. jobs data later in the session. The pan-European Stoxx 600 index was up 0.5% in early trade, with insurance stocks adding 1.2% to lead gains as most sectors and major bourses nudged into positive territory. Economists surveyed by Dow Jones expect that September will show a net 170,000 new jobs — significantly more than that could provide a good-news-is-bad-news jolt to an already reeling market. The pan-European Stoxx 600 closed 0.3% higher on Thursday, following three consecutive negative trading sessions at the start the fourth quarter. The rate on the 10-year Treasury note slipped from highs last seen in 2007 earlier in the week and held steady at around 4.7276% on Friday.

Persons: nonfarm, Dow Jones Organizations: U.S, Wall, Federal Reserve Locations: Asia, Pacific

☆ A new Chile? Argentina is at the epicenter of a new ‘white gold’ rush
▼ + stars: | 2023-10-06 | by ( Sam Meredith | ) www.cnbc.com time to read: +8 min

Ricardo Ceppi | Getty Images News | Getty ImagesMomentum behind Argentina's lithium mining boom is picking up fast. The region is estimated to hold more than half of global lithium reserves, mainly located in Argentina (21%) and Chile (11%). Leftist President Gabriel Boric announced in April that the state was taking a majority stake in the country's lithium industry, dismaying some business leaders. Tomas Cuesta | Getty Images News | Getty Images"Everyone thinks in Latin America, when it comes to mining and lithium, Chile comes to mind. The protests took place shortly after a controversial change in legislation gave lithium mining companies greater access to indigenous lands.

Persons: Ricardo Ceppi, Jujuy Gerardo Morales, Mariano Machado, Gabriel Boric, Javier Milei, Argentinians, Tomas Cuesta, Verisk Maplecroft's Machado, Machado Organizations: Salinas Grandes, Getty, Eurasia Group, International Energy Agency, Americas, Verisk Maplecroft, Group, Verisk, CNBC, La Libertad Locations: Salinas, Jujuy, Argentina, Chile, America, Buenos Aires, Catamarca, Salta, Verisk, China, Chile Chile, Australia, Santiago del Estero, Argentina's

☆ Russia's government lifts ban on most of its diesel exports
▼ + stars: | 2023-10-06 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

From February 5, 2023, the European Union will no longer purchase petroleum products such as diesel, gasoline or lubricants from Russia. Russia's government on Friday said it had withdrawn a ban on diesel exports delivered to sea ports via pipelines, removing a large chunk of restrictions it put in place last month. The announcement comes shortly after Russia imposed an indefinite ban on the export of diesel and gasoline to most countries, sending shockwaves through global markets. The restrictions for gasoline exports currently remain in place. The ban prompted a jump in diesel prices, as Russia is one of the world's largest suppliers of diesel and a major exporter of crude oil.

Persons: Dmitry Peskov Organizations: European Union, Reuters Locations: European, Russia, Moscow

☆ European leaders say they can’t fully replace U.S. support to Ukraine as funding fears grow
▼ + stars: | 2023-10-05 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

Gathering in Granada, Spain, for a summit of the European Political Community, European leaders sought to reaffirm their commitment to Ukraine amid Russia's full-scale invasion. He has insisted, however, that a majority of members across both major parties support funding Kyiv. "Ukraine needs the support of the European Union, which is sure, they will have it and we will increase it. "As far as I oversee the situation in the United States, I am very confident of support for Ukraine from the United States. Asked whether the EU could step in if the U.S. does not resume its support for Ukraine, Rutte said, "It is not necessary.

Persons: Josep Borrell, Jorge Guerrero, Joe Biden, Robert Fico, Washington's, Borrell, Viktor Bondarev, Volodymyr Zelenskyy, Zelenskyy, Ursula von der Leyen, Biden, Mark Rutte, Rutte Organizations: EU, Representative, Union for Foreign Affairs, Palacio, Congreso, Afp, Getty, Political Community, Wednesday, Republican, U.S . Congress, European Union, Kyiv, Russia's Federation, Committee, Defense, Security, European Commission, Congresos, Political, Europa Press, Dutch, U.S . House, Representatives, Hague, Ukraine Locations: Granada, Spain, U.S, Ukraine, Europe, Russian, Slovakia, Kyiv, EU, America, Russia, Andalusia, United States, Netherlands

☆ Extraordinary September heat means 2023 is now on track to be the warmest year on record
▼ + stars: | 2023-10-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

2023 is on course to be the hottest year on record, scientists warned on Thursday, following extraordinarily high temperatures in September and the hottest summer in human history. The European Union's Copernicus Climate Change Service (C3S) said global average temperatures for January through to September were 1.4 degrees Celsius higher than the preindustrial period of 1850 to 1900. This was just over 0.5 degrees Celsius higher than average and 0.05 degrees Celsius higher the equivalent period in 2016 — the current hottest year on record. Extreme heat is fueled by the climate crisis, the chief driver of which is the burning of fossil fuels. "This extreme month has pushed 2023 into the dubious honour of first place — on track to be the warmest year and around 1.4°C above preindustrial average temperatures."

Persons: C3S, Samantha Burgess, Burgess Organizations: Bolivian, United, United Arab Emirates Locations: Bahia, Lake Titicaca, Bolivia, Peru, Dubai, United Arab

☆ U.S. ambassador insists America remains the top foreign policy actor in the Middle East
▼ + stars: | 2023-10-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Ambassador to the United Arab Emirates Martina Strong believes the U.S. is unequivocally the most important foreign policy actor in the Middle East. Her comments come roughly one year after President Joe Biden threatened "consequences" for Saudi Arabia after the OPEC kingpin slashed oil production along with its allies against Washington's wishes. Biden's administration has been notably quiet about recent OPEC+ output cuts, however, even as oil prices have rallied close to $100 a barrel. Saudi Arabia has recently shown signs of steering toward China and Russia after rekindling relations with Iran through Beijing-mediated talks and receiving an invitation to join the emerging economies' BRICS alliance. Asked by CNBC's Dan Murphy whether the U.S. remained the most important foreign policy actor in the region, Strong replied, "Absolutely.

Persons: United Arab Emirates Martina Strong, Joe Biden, Washington's, Biden's, CNBC's Dan Murphy, Strong, Saudi Arabia's Crown Prince, Mohammed bin Salman, Narendra Modi, Evelyn Hockstein Organizations: United Arab Emirates, U.S ., UAE, Saudi Arabia's Crown, India's, Bharat, Afp, Getty Locations: U.S, Saudi Arabia, Israel, China, Russia, Iran, Beijing, New Delhi

☆ Former BP boss Bob Dudley says Looney’s shock exit ‘came out of nowhere’
▼ + stars: | 2023-10-03 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

Arun Sankar | Afp | Getty ImagesFormer BP CEO Bob Dudley on Tuesday said that Bernard Looney's abrupt resignation last month came as a shock and denied any prior knowledge of the latter's past personal relationships with colleagues. Looney succeeded Dudley, who stood down as BP CEO in 2020. He informed the company that he was not "fully transparent in his previous disclosures" about relationships with colleagues before becoming CEO, BP said. "Things at BP are OK. We move forward as you would expect, despite the change that happens," interim BP CEO Murray Auchincloss said Monday during a CNBC-moderated ADIPEC panel session. Dudley — who now chairs the Oil and Gas Climate Initiative, an organization backed by BP, Saudi Aramco, Exxon Mobil and other Big Oil firms — echoed Auchincloss' view.

Persons: Bernard Looney, Arun Sankar, Bob Dudley, Bernard Looney's, Dudley, Looney, Murray Auchincloss, Auchincloss, It's, Dudley — Organizations: Afp, Getty, BP, Financial Times, CNBC, Abu Dhabi International Progressive Energy Congress, BP Plc, Abu, Abu Dhabi International Petroleum Exhibition, United, Bloomberg, Climate Initiative, Exxon Mobil, Big Oil Locations: New Delhi, Abu Dhabi, United Arab Emirates, Saudi Aramco

☆ ‘We are not in the business of ice cream’: Big Oil CEOs defend themselves against climate criticism
▼ + stars: | 2023-10-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

Executives representing energy majors in the U.S., Europe and Asia speak during a CNBC-moderated panel session at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates. "So, the debate has always been posed here, I'm reminded of an old saying: 'If you want to keep everyone happy, sell ice cream.' We are not in the business of ice cream — and I'm reminded, there are people who are lactose intolerant," Taufik said. "In mitigating climate change, there is also the opportunity to continue to produce oil for our energy security. Wael Sawan, chief executive officer of Shell Plc, speaks during a panel session at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates.

Persons: We've, Tengku Muhammad Taufik, I'm, Taufik, Vicki Hollub, Oxy, Hollub, Patrick Pouyanne, Pouyanne, Wael Sawan Organizations: CNBC, Abu, Abu Dhabi International Petroleum Exhibition, United, United Arab Emirates, Bloomberg, Getty Images, Monday, Big Oil, Amnesty, Petronas, Shell Plc, Getty Locations: U.S, Europe, Asia, Abu Dhabi, United Arab, Paris

☆ Stagflation is 'the big bogeyman out there' — and many increasingly fear its return
▼ + stars: | 2023-09-29 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

Oil prices surging to the brink of $100 per barrel and the specter of higher for longer inflation have renewed concern about stagflation risks, however. Kashkari reaffirmed this message when speaking to CNBC on Wednesday, saying that he was not sure if interest rates have been raised enough to successfully fight price growth. Market participants are worried that surging oil prices could keep inflation higher for longer, amplifying the risk of stagflation. "The price pressure reflects a shortage of supply, after OPEC+ cut production targets, under the leadership of Saudi Arabia and Russia. This must be seen in the context of a moving geopolitical environment, with Saudi Arabia recently joining the BRICS group," they added.

Persons: Mel Lagomasino, CNBC's, Lagomasino, Neel Kashkari, Kashkari, Jerome Powell, Chip Somodevilla, Stagflation, –, South Africa — Organizations: WE, CNBC, Federal Reserve, Getty, Brent, . West Texas Intermediate, Organization of, Petroleum, OPEC, Generali Investments, United Locations: Minneapolis, Washington ,, Saudi Arabia, Russia, OPEC, stagflation, Brazil, India, China, South Africa, Argentina, Egypt, Iran, Ethiopia, United Arab Emirates

☆ 10-year Treasury yield falls after notching 15-year high in previous session
▼ + stars: | 2023-09-29 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

The yield on the 30-year Treasury bond also dipped about 3 basis points to 4.7%. At the shorter end of the curve, yields were slightly lower. One basis point equals 0.01%. The yield on the benchmark 10-year Treasury note slipped by more than 3 basis points to trade at 4.563%, extending losses after hitting 4.688% on Thursday — its highest level since Oct. 15, 2007 when it yielded as much as 4.719%. The U.S. 10-year Treasury yield was trading lower on Friday, moving away from a fresh 15-year high notched in the previous session.

Persons: Neel Kashkari, CNBC's, —, Sarah Min, Lisa Kailai Han Organizations: Federal, Minneapolis, Federal Reserve Locations: U.S, Chicago

☆ Brazil touts climate credentials as Amazon deforestation falls — but draws criticism over oil bet
▼ + stars: | 2023-09-29 | by ( Sam Meredith | ) www.cnbc.com time to read: +7 min

It's welcome news for Lula, who has promised to achieve zero deforestation in the Amazon by 2030 and is seeking to repair his country's environmental reputation. The government, however, has received criticism over its plans to open new oil fields near the mouth of the Amazon River. Dave Benett | Getty Images Entertainment | Getty ImagesThe Amazon is critical in absorbing the planet's carbon dioxide — making it a vital bulwark in the fight against climate change. Txai Surui, an indigenous leader and activist from the Brazilian Amazon, welcomed the trend of falling Amazon deforestation but criticized Lula's administration for its willingness to potentially develop offshore oil. "How are you doing agreements about deforestation and all these things and yet you want to explore [for oil]?"

Persons: Michael Dantas, Luiz Inácio Lula da Silva, Lula, Jair Bolsonaro's, Guajajara, Bolsonaro, Sonia Guajajara, Txai Surui, Dave Benett, Buda Mendes, Rui Costa, Costa, Lula's, Surui, Brazil's, Brazil Luiz Inácio Lula da Silva, Andressa Anholete, Guillermo Lasso, Tipping, Brazil's Guajajara Organizations: Afp, Getty, CNBC, IBAMA, FUNAI, Indigenous Peoples, Petrobras, Reuters, Amazon, Nature Sustainability, U.N Locations: Manaquiri, Amazonas, London, Indigenous Peoples of Brazil, Annabel's, England, Brazil, Maracana, Rio de Janeiro, Buda, Planalto, Brasilia, Ecuador

☆ A ‘dark-horse’ Republican candidate could emerge as Trump’s legal problems mount, ex-U.S. ambassador says
▼ + stars: | 2023-09-27 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

A growing legal headache for early frontrunner Donald Trump could pave the way for a "dark horse" Republican presidential candidate to win the backing of the party in the race for the White House. That's the view of one former U.S. ambassador ahead of the Republican Party's second televised presidential debate on Wednesday evening. The former president, who skipped the first Republican Party presidential debate in Wisconsin last month, boasts a lead of more than 40 points over his nearest competition, according to a recent national NBC News poll. Trump has said he doesn't plan to take part in the second Republican debate on Wednesday evening and will instead deliver a speech to autoworkers in Detroit. Republican Party donors have encouraged Youngkin to enter the race and challenge Trump's sizable lead in the polls.

Persons: Donald Trump, Ronald Reagan, Trump, Donald Trump's, Lew Lukens, CNBC's, Lukens, Florida Governor Ron DeSantis —, Glenn Youngkin, Youngkin Organizations: Republican, White, Republican Party's, Foundation & Institute, Trump —, NBC News, Signum Global Advisors, Republican Party, Florida Governor, Trump Locations: U.S, Simi Valley , California, Wisconsin, Detroit, Virginia

☆ Armenia warns of 'ethnic cleansing' as thousands flee the Nagorno-Karabakh enclave
▼ + stars: | 2023-09-26 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Armenian police officers walks near refugees as they queue in vehicles near the border town of Kornidzor, arriving from Nagorno-Karabakh, on September 26, 2023. Thousands of ethnic Armenians on Tuesday fled their homes in the breakaway enclave of Nagorno-Karabakh, as Armenia's Prime Minister Nikol Pashinyan publicly blamed Russia for failing to ensure the country's security. The U.S. has called for Azerbaijan to maintain a ceasefire and "take concrete steps" to protect the rights of civilians in Nagorno-Karabakh. The landlocked territory of Nagorno-Karabakh declared independence from Azerbaijan in 1991 and, with the support of Armenia, has fought two wars with Azerbaijan in the space of 30 years. As of Tuesday morning, at least 13,350 people were estimated to have entered Armenia from Nagorno-Karabakh, according to the Armenian government.

Persons: Nikol Pashinyan Organizations: Tuesday, Armenia's Locations: Kornidzor, Nagorno, Karabakh, Russia, Azerbaijan, Caucasus, Europe, Asia, The U.S, Armenia

☆ The Nagorno-Karabakh crisis raises serious questions for Russia — and the West
▼ + stars: | 2023-09-22 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

The contested mountainous region of Nagorno-Karabakh is internationally recognized as part of Azerbaijan, but it has been under de-facto Armenian control since the early 1990s. It follows an abrupt 24-hour offensive by Azerbaijani forces on Tuesday that swiftly broke through ethnic Armenian lines, seized strategic positions and resulted in the surrender of separatist forces. Armenia, which has typically looked to Russia as a security guarantor, said Azerbaijan's military operation was an attempt to ethnically cleanse Nagorno-Karabakh, a charge Baku has denied. Armenian authorities in Nagorno-Karabakh accused Azerbaijan of violating a cease-fire agreement, with Reuters reporting gunfire could be heard in the region's capital on Thursday. Armenians attend a rally in Yerevan on September 21, 2023, following Azerbaijani military operations against Armenian separatist forces in Nagorno-Karabakh.

Persons: Karen Minasyan, Ilham Aliyev, Nikol Pashinyan, Japaridze, Pashinyan, Karabakh, Kusa, Pashynian's Organizations: Government, Armenian, Afp, Getty, CNBC, Eurasia Group, Kremlin, Collective Security, Organization, NATO, Anadolu Agency, Ukrainian Institute, Russian Embassy Locations: Yerevan, Nagorno, Karabakh, Azerbaijan, Armenia, Caucasus, South Caucasus, Russia, Baku, Moscow, Ukraine, Russian, London

☆ Russia's indefinite ban on diesel exports threatens to aggravate a global shortage
▼ + stars: | 2023-09-22 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

From February 5, 2023, the European Union will no longer purchase petroleum products such as diesel, gasoline or lubricants from Russia. Russia imposed an indefinite ban on the export of diesel and gasoline to most countries, a move that risks disrupting fuel supplies ahead of winter and threatens to exacerbate global shortages. In a government decree signed by Prime Minister Mikhail Mishustin, the Kremlin said Thursday that it would introduce "temporary" restrictions on diesel exports to stabilize fuel prices on the domestic market. Market participants are concerned about the potential impact of Russia's ban, particularly at a time when global diesel inventories are already at low levels. Oil prices jumped as much as $1 a barrel on the news on Thursday, before settling lower for the session.

Persons: Mikhail Mishustin Organizations: European Union, Soviet, Economic Union, Brent, U.S, West Texas, Energy, Kremlin, Reuters Locations: European, Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan, Moscow, London

☆ Oil just hit its highest level of the year — and some analysts expect a return to $100 before 2024
▼ + stars: | 2023-09-15 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

In an aerial view, oil storage tanks are shown at the Enterprise Sealy Station on August 28, 2023 in Sealy, Texas. Oil prices climbed to their highest level of the year this week, extending a rally that has put a return to $100 a barrel sharply into focus. Indeed, some analysts believe crude prices could hit this milestone before year-end. Analysts at Bank of America have indicated they now believe oil prices could soon spike beyond triple digits. "Should OPEC+ maintain the ongoing supply cuts through year-end against Asia's positive demand backdrop, we now believe Brent prices could spike past $100/bbl before 2024," analysts led by Francisco Blanch said Tuesday in a research note.

Persons: Brent, WTI, Francisco Blanch Organizations: Enterprise, Brent, . West Texas Intermediate, Saudi, Bank of America, bbl Locations: Sealy , Texas, London, Saudi Arabia, Russia

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