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☆ Bronze Age-style ship recreates a 4,000-year-old journey
▼ + stars: | 2024-07-13 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

Fast-forward to seventh century East Anglia in the United Kingdom, where an Anglo-Saxon warrior king was buried alongside exquisite goods within a massive ship. Researchers are hoping to reconstruct the ship — and it’s not the only vessel gaining new life centuries after disappearing from time. Emily Harris/Zayed National MuseumUsing a supply list written on a clay tablet, a team of experts in the United Arab Emirates has reconstructed a Bronze Age ship. Once upon a planetScientists excavated a 52,000-year-old woolly mammoth skin from the Siberian permafrost. Love Dalén/Stockholm UniversityThe freezing temperatures of the Siberian permafrost preserved a piece of 52,000-year-old woolly mammoth skin so well that it contains a first-of-its-kind genetic treasure trove.

Persons: it’s, Emily Harris, Shipwrights, Jacob, Alex Braczkowski, Griffith University Jacob, Tibu, Butch Wilmore, Suni Williams, James Webb, Ashley Strickland, Katie Hunt Organizations: CNN, East, Zayed National, United Arab Emirates, Zayed National Museum, Griffith University, Uganda’s Queen Elizabeth, International Space Station, NASA, Boeing, European Space Agency, James Webb Space, Penguin, —, CNN Space, Science Locations: Siberia, East Anglia, United Kingdom, Persian, Mesopotamia, Zayed, Abu Dhabi, Sweden, Denmark, Peru, Machu Picchu, Uganda’s, Stockholm, Western Australia

☆ Bronze Age-style ship sails the Persian Gulf 4,000 years after it was designed
▼ + stars: | 2024-07-12 | by ( Ashley Strickland | ) edition.cnn.com time to read: +9 min

CNN —Writings on an ancient clay tablet have allowed experts to reconstruct a Bronze Age ship made of reeds and sail it on a maiden voyage off the coast of Abu Dhabi, United Arab Emirates. It is the world’s largest reconstruction of a Bronze Age Magan boat, according to the team. The research project’s goals were to uncover ancient craftsmanship techniques, determine the connections between Bronze Age societies and better understand the role Abu Dhabi once played in Bronze Age trade. After passing five days of trials, the ship sailed toward Saadiyat Island off the coast of Abu Dhabi and the open sea on March 2 and 3. “Seeing the Magan Boat sail on the water for the first time actually took my breath away and brought tears to my eyes.”

Persons: Magan, “, ”, Eric Staples, Abu Dhabi, Emily Harris, Umm, Robert B, Jackson, ” Jackson, Peter Magee, Marwan Abdullah Al, Marzouqi, ” Marzouqi, Abdallah Alremaithi, Ayesha Almansoori, Tayla Clelland, Mohamed Khalifa Al Mubarak, ” Clelland Organizations: CNN, United, United Arab Emirates, Zayed University, Zayed National Museum, Zayed National Museum , New York University, British Museum, ., Department of Culture Locations: Abu Dhabi, United Arab, Persian, UAE, Oman, Mesopotamia, Iraq, Pakistan, India, Zayed National Museum ,, Zayed National Museum , New York University Abu Dhabi, Umm, South Asia, Girsu, what’s, Saadiyat, Tourism, “

☆ Why the Iranian Navy keeps losing warships in accidents, after its Sahand frigate capsized and sank
▼ + stars: | 2024-07-12 | by ( Paul Iddon | ) www.businessinsider.com time to read: +9 min

It was the third navy ship Iran has lost in an accident since 2018. AdvertisementIn June 2021, it lost the 680-feet-long Kharg support ship, the Iranian Navy's largest by tonnage, in a fire, injuring 33. Furthermore, it could also "be a small reflection of government prioritization" of the Islamic Revolutionary Guard Corps Navy over Iran's Navy. "Budgets are training, maintenance, and personnel." Iran has two navies: its Navy, known as the Islamic Republic of Iran Navy, and the naval arm of the powerful Islamic Revolutionary Guard Corps paramilitary organization.

Persons: —, Bryan Clark, Clark, Steven Horrell, Horrell, Damavand, Shahid Hassan Bagheri, Morteza Nikoubazl, Hudson's Clark, Nadimi Organizations: Service, Iran's Navy, Business, Hudson Institute, Transatlantic Defense, Security, Center for, UK, Islamic Revolutionary Guard Corps Navy, Navy, Islamic Republic of Iran Navy, Islamic Revolutionary Guard Corps, IRGC Navy, US Navy, Supreme, IRIN, Washington Institute for Near East Locations: Bandar Abbas, Iran, Iranian, Bandar, United Kingdom, Islamic Republic of, Hormuz

☆ My wife and I are boomers with no kids. We moved to Paris for retirement and enjoy the food and cheap travel.
▼ + stars: | 2024-07-12 | by ( Jane Ridley | ) www.businessinsider.com time to read: +7 min

AdvertisementEllen was a member of Alliance Française, an organization centered on learning French and understanding the culture in France. It helped that we belong to the Association of American Residents Overseas, which has about 1,000 members in Paris. The food markets are phenomenalOn any given day except Monday, Paris hosts huge, open-air food markets where farmers arrive to sell their fresh produce. It's a walkable cityParis is the most walkable city I've ever been in. I've heard three or four French people who have spent time in either the US or Canada and then moved back to France.

Persons: —, Rick Jones, Ellen Bryson, who've, Ellen, I'd, Jones, It's, who's, Bryson, We'll, I've, don't, Macron Organizations: Service, Navy SEAL, Business, Left Bank, Association of American Residents Overseas, Paris, Vitesse, Global, Equality Locations: Buenos Aires, Norfolk, Virginia, San Diego, London, Persian, France, Paris, San Francisco, Marseille, Liberty, Canada

☆ Welcome to the new Fightertown USA: Inside San Diego's AI-powered unmanned aircraft boom
▼ + stars: | 2024-07-10 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +12 min

But the program has since moved to another station, and its legacy in San Diego is a faint, fond memory. AdvertisementWith such a rich history of aerial dynamism, it's no surprise that San Diego has become a major hub of this technology. Defense, AI, and a warming reception from VCsLong before AI became a household buzzword, Shield AI launched in San Diego. AdvertisementBut San Diego seemed to be a better fit with its access to open land and proximity to the ocean. That pipeline continues to feed into the San Diego tech ecosystem, feeding and driving the aerial innovation it has become known for over a century.

Persons: —, Tom Cruise, Larsen Jensen, Palmer Luckey's Anduril, Brandon Tseng, VCs Long, Tseng, Ryan, presciently, Hivemind, It's, shouldn't, Jensen, Ian Muceus, Muceus, we've, Firestorm's, Firestorm, Glenn Curtiss, Grant Jordan, Andreessen Horowitz, — Jordan, Jordan, SkySafe, Tim Draper, Aleksey Matyushev, Matyushev, Oakland — Natilus, Natilus, General Atomics, Northrop Grumman, Lockheed Martin Organizations: Service, Kawasaki Ninja, hotshot Navy, US Naval Air Station, Business, Navy, Harpoon Ventures, Defense, aha, Navy SEAL, US Department of Defense, Coast Guard, Air Force, Marine Corps, BAT, SpaceX, Marque Ventures, Silent Ventures, US Navy, Soma, Oakland, San Diego International Airport, Brown Field Municipal, Northrop, Lockheed Locations: San Diego, Miramar, Diego's, Diego, Afghanistan, Persian, Israel, Caribbean, Bay, San Diego Bay, West, San Jose, San Francisco, Central Valley, Vallejo, Kona

☆ Sahand: Iranian warship rolls over in port, could be out of action for six months
▼ + stars: | 2024-07-09 | by ( Brad Lendon | ) edition.cnn.com time to read: +2 min

A photo from the semi-official Tasnim News Agency showed the warship, with a displacement of about 2,000 tons, resting on its left side in the Bandar Abbas port. Naval analyst Carl Schuster, a former US Navy captain, said it would take Iran four to six months to repair the ship once it can be refloated. Ships like the Sahand tend to have a lot of “top hamper,” weight from electronics and weapons above their center of gravity, Schuster said. The Sahand is the most recent ship to carry that name for the Iranian navy. The previous Sahand was sunk by the US Navy in 1988 during Operation Praying Mantis, which launched after a US frigate was crippled by an Iranian mine in the Persian Gulf.

Persons: “, Tasnim, Carl Schuster, ” Schuster, Schuster, ”, Capsizing, IRNA Organizations: CNN, Republic News Agency, Tasnim News Agency, US Navy, Ships Locations: Bandar Abbas, Bandar, Iran, Iranian, Persian

☆ South Korea: Flying aboard the AC-130J Ghostrider, carrying America’s biggest gun in the sky
▼ + stars: | 2024-07-09 | by ( Brad Lendon | Mike Valerio | ) edition.cnn.com time to read: +8 min

AC-130 gunners Joe Gipson (back) and Isaac Dowell tend the 105mm cannon aboard a US Air Force AC-130J during a live-fire exercise over South Korea. A 105mm howitzer is seen at the rear of a US Air Force AC-130J at Osan Air Base, South Korea, in early June 2024. ‘Spooky’ historyUS Air Force gunships trace their lineage back to the Vietnam War, when the service set up 7.62 mm guns to fire out one side of a C-47 transport aircraft. With the AC-130J model, introduced in 2017, the Air Force removed the machine guns in favor of the more precision-guided munitions. The AC-130’s crew acknowledges the dangers of ground fire to their aircraft, and some analysts question its usefulness in any potential conflict with North Korea.

Persons: Ghostrider, Joe Gipson, Isaac Dowell, Brad Lendon, John Ikenberry, Kim Jong Un, ” Ikenberry, Heath Curtis, Mike Valerio, Curtis, ”, Justin Burris, Peter Layton, Layton, Maj, Christopher Mesnard, CNN’s Yoonjung Seo, Gawon Bae Organizations: Korean Peninsula CNN, US Air Force AC, CNN, Air Force Special Operations Command, US Air Force, Osan Air Base, South, Air Force, National Museum of, Operation, US, Griffith Asia Institute, Royal Australian Air Force, Operations Command Locations: Hurlburt Field, Florida, South Korea, Seoul, North Korea, Washington, Korea, Maj, New Mexico, United States, Vietnam, Asia, Grenada, Panama, Somalia, Iraq, Afghanistan, Kunduz, Iraqi, Persian, Khafji, Saudi Arabia, Korean, Australia, Operations Command Korea

☆ Iran's Islamic Revolutionary Guard Corps gets powerful ships to confront adversaries well beyond the Persian Gulf
▼ + stars: | 2024-07-04 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +17 min

Read previewIn the last three years, Iran's Islamic Revolutionary Guard Corps Navy has commissioned hundreds of new vessels. AdvertisementThe Shahid Hassan Bagheri is one of three new Soleimani-class missile corvettes that are the most heavily armed warships in the Islamic Revolutionary Guard Corps Navy's fleet. Despite being lightly armed, it has a record of harassing US vessels and civilian ships in the Persian Gulf. AdvertisementThree Soleimani-class corvettes, Shahid Soleimani, Shahid Hassan Bagheri, and Shahid Sayyad Shirazi, have been commissioned, while a fourth, Shahid Ra'is-Ali Delvari, is under construction. AdvertisementMahdavi will eventually be joined by another converted container ship, the Shahid Bagheri.

Persons: —, Shahid Hassan Bagheri, Morteza Nikoubazl, Ayatollah Ali Khamenei, Shahid Soleimani, Nazeri, Shahid Nazeri, SAMs, Shahid Sayyad Shirazi, Shahid Ra'is, Ali Delvari, Hassan Bagheri, Abu Mahdi al, Shahid, Alireza Tangsiri, Shahid Mahdavi, 400Y8DYPlr — Mehdi H, Shahid Roudaki, Roudaki, Mahdavi, Lewis B, Puller, Shahid Bagheri, Bagheri, Tangsiri, IRGCN, Ayatollah Khamenei, Nadimi, Saviz, Diego Garcia, Benjamin Brimelow Organizations: Service, Islamic Revolutionary Guard Corps Navy, Business, Islamic Revolutionary Guard Corps Navy's, Islamic Revolutionary Guard Corps, US, Quds Force, Guard, Southern Hemisphere, American, British, Washington Institute for Near East Policy, Global Affairs, Fletcher School of Law, Diplomacy, Modern, Institute Locations: Iran, Saudi Arabia, Persian, Gulf of Oman, Hormuz, China, Russia, Taiwan, Norway, Yemen, Makran, Morteza, Israel, Lebanon, Hamas, Gaza, Syria, Mahdavi, West

☆ Houthi rebels say they've fired a new 'homemade hypersonic missile,' posting footage of its launch at a civilian ship
▼ + stars: | 2024-06-27 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

Read previewYemen's Houthi rebel group said on Wednesday that it targeted a Liberian-flagged ship in the Arabian Sea with a "homemade hypersonic missile," saying it unveiled the weapon for the first time. Houthis posted footage of the missileHouthi-linked channels posted footage of the purported launch, calling the missile the "Hatem-2" or "Hadim-2." AFP via Getty ImagesIs the 'Hatem-2' really a homemade hypersonic missile? Notably, Yemen's latest launch occurred as the USS Dwight D. Eisenhower Carrier Strike Group left the region on Saturday after defending the area for about eight months. It is due to be replaced by the USS Theodore Roosevelt Carrier Strike Group.

Persons: —, Yahya Sare'e, Sare'e, MSC Sarah V, Houthis, Hatem, SARAH V, Saddam Hussein's, Yemen's, Dwight D, Theodore Roosevelt Carrier, Roosevelt Organizations: Service, Liberian, Business, MSC, Kingdom Maritime Trade Operations, British Royal Navy, Yemeni Military Industrialization Corporation, United Nations, AFP, Getty, Tel Aviv . Naval, US, Eisenhower Carrier Strike Group, Theodore Roosevelt Carrier Strike Locations: Greek, Israel, Abu Dhabi, Persian, Iran, Tehran, Saddam Hussein's Iraq, China, Palestine, Red, Gaza, Tel Aviv, Yemen, South Korea

☆ Why an Israel-Hezbollah war would be far more dangerous today than the last time around
▼ + stars: | 2024-06-27 | by ( Ben Wedeman | ) edition.cnn.com time to read: +7 min

Since its inconclusive 2006 war with the Lebanese militant group, Israel has been planning for a re-match. During the 2006 war, in the experience of this correspondent, it was rare to encounter Hezbollah fighters. In the event of war, full-scale war, both sides will be able to inflict significant pain on the other. In the entire 34-day war of 2006 Hezbollah is estimated to have fired around 4,000 rockets – a daily average of 117. At 6 a.m. on July 13, 2006 – less than 24 hours after the start of the war – Israeli warplanes bombed and knocked out Beirut’s Rafic Hariri International Airport.

Persons: CNN —, Benny Gantz, Hassan Nasrallah, – Nasrallah, Avihu Shapira, Gantz, Beirut’s Rafic, –, Israel, Iran’s, Qais Al, Ahl Al, Haq, Lebanon “ Organizations: CNN, Reichman University, Israel, Getty, Beirut’s Rafic Hariri International Airport, Tel Aviv’s Ben Gurion International, Washington Locations: Lebanon, Herzliya, Israel, Lebanese, Haifa, Syria, Gaza, Iraq, Iran, It’s, Israel’s, Yemen, Red, Jordan, America, Tehran, Damascus, Hormuz, Persian, Germany, Sweden, Kuwait, Netherlands

☆ The US Navy's turning to its third carrier strike group as its warships react to Middle East conflicts with no end in sight
▼ + stars: | 2024-06-26 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

The USS Theodore Roosevelt Carrier Strike Group is currently in South Korea, but it will soon depart for the US Central Command area of responsibility. US Navy photo via APA carrier strike group is a naval formation that includes a carrier, its air wing, and several other warships such as cruisers and destroyers. Eisenhower strike groupThe Dwight D. Eisenhower Carrier Strike Group first deployed to the Eastern Mediterranean in October, bringing in more firepower alongside the Ford. Roosevelt strike groupSlated to replace the Eisenhower is the USS Theodore Roosevelt Carrier Strike Group. As for the other crises, the incoming Roosevelt carrier strike group has its work cut out for it.

Persons: —, Theodore Roosevelt Carrier, Gerald R, Ford refuels, Arleigh Burke, Thomas Hudner, Ramage, USS Carney, Roosevelt, Carney, Eisenhower, Dwight D, Ike, Theodore Roosevelt, Kyung, Maj, Pat Ryder, Ryder, Israel Organizations: Service, US Navy, Theodore Roosevelt Carrier Strike, US Central Command, CSG, Business, Pentagon, Ford Carrier Strike Group, AP, Ford, Ticonderoga, Eisenhower Carrier Strike Group, Eisenhower, British, European Command Locations: —, Gaza, South Korea, Gulf of Aden, Israel, Lebanon, Laramie, Normandy, Iran, Persian, Gulf, Aden, Yemen, Busan

☆ ‘They saved their whole lives for this’: American woman’s heartbreak as parents die on Hajj
▼ + stars: | 2024-06-22 | by ( Pauline Lockwood | Maija-Liisa Ehlinger | ) edition.cnn.com time to read: +6 min

CNN —Saida Wurie said it was her parents’ lifelong dream to participate in Hajj, the religious pilgrimage that brings Muslims from around the world to Saudi Arabia each year. Speaking to CNN’s Whitfield on Saturday, Wurie said she had been in close contact with her parents while they were in Saudi Arabia via a family group chat. As of Saturday, diplomats have not committed to meeting them in person in Saudi Arabia, she said. Mecca, the holy city that is central for Hajj pilgrims, saw temperatures soar to a record-setting 125 degrees Fahrenheit on Monday. Fadel Senna/AFP/Getty ImagesBut CNN has spoken to other Hajj pilgrims who said the preparations weren’t enough, with one describing seeing fellow worshipers lose consciousness and walking past bodies covered in white cloths.

Persons: Saida Wurie, They’d, “, ”, CNN’s Fredricka Whitfield, Wurie, Isatu Tejan, Alieu Dausy, Prince George’s County, CNN’s Whitfield, Arafat, Mount Arafat, Whitfield, Fadel Senna, Mina . Organizations: CNN, Kaiser Permanente, ”, Saudi Interior Ministry, US Embassy, General’s Office, US State Department, Saudi, Ahram Locations: Hajj, Saudi Arabia, Maryland, Bowie , Maryland, Kaiser, Prince George’s, Mina, Jeddah, Saudi, Mecca, AFP, Egypt, Saudi Arabian

☆ US Navy warships are stuck in a Red Sea battle they can't fight forever
▼ + stars: | 2024-06-15 | by ( Jake Epstein | ) www.businessinsider.com time to read: +11 min

Components of the Dwight D. Eisenhower Carrier Group steam in formation with the Italian navy in the Red Sea on June 7. A fighter jet parks on the deck of the USS Dwight D. Eisenhower in the Red Sea on June 11. Elements of the Eisenhower strike group have already left the Red Sea once to be rearmed and resupplied, and the Pentagon recently extended its monthslong deployment for a second time. A fighter jet is launched from the USS Dwight D. Eisenhower during a strike against Houthi military targets in Yemen on Feb. 3. A commercial ship in the Red Sea in March.

Persons: —, they've, Dwight D, Navy Carlos Del Toro, What's, Eisenhower, Bernat, National Intelligence Avril Haines, Joseph Votel, John Kirby, Jorge LeBaron, Haines, Biden, Brian Finucane, Finucane, Votel, Mohammed Hamoud, That's, Nadimi Organizations: Service, US Navy, Business, Washington, Eisenhower Carrier Group, Eisenhower Carrier Strike, Ike, Navy, Pentagon, US Central Command, AP, National Intelligence, White House National Security Council, BI, Handout, US, Crisis, US State Department, Screengrab, Ministry of Defense, Defense Intelligence Agency, Galaxy Leader, The Washington Institute for Near East Locations: Gulf of Aden, Yemen, Saudi Arabia, Israel, Western, Africa, Gaza, Persian, Bab, Red

☆ OPEC+ decision to increase oil supply is a 'bearish surprise' for the market, Goldman says
▼ + stars: | 2024-06-04 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

The detailed plan laid out by OPEC+ over the weekend to increase oil production delivered a "bearish surprise" to a market in which prices were already under downward pressure, according to Goldman Sachs. OPEC+ plan difficult to reverse The OPEC+ members said the production increases are subject to market conditions and could be reversed. Struyven described OPEC's forecast as "very bullish," with Goldman forecasting demand growth of 1.5 million bpd in 2024. Market could deteriorate in 2025 The oil market will remain in balance or in a slight deficit for the time being, according to Ryan McKay, senior commodity strategist at TD Securities. Yet those cuts have failed to limit shale oil production in the U.S., Lipow said.

Persons: Goldman Sachs, Brent, WTI, Daan Struyven, Bob Yawger, Yawger, Helima Croft, Goldman's Struyven, Andrew Lipow, Struyven, Lipow, Ryan McKay, McKay, Daan Organizations: West Texas Intermediate, Goldman, OPEC, Mizuho Securities, CNBC, RBC Capital Markets, Lipow Oil Associates, TD Securities, JPMorgan Locations: OPEC, Saudi Arabia, Russia, U.S, Brazil, Guyana, Norway, Senegal, Persian, Arabian

☆ Russia saw its oil revenue double in April despite Western sanctions
▼ + stars: | 2024-05-06 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

Russia's oil revenue soared by 90% in April compared to the previous year, Bloomberg reported. The rise comes as sanctions have struggled to curb Russian energy flows since the war in Ukraine began. AdvertisementThe major funding sources for Vladimir Putin's invasion of Ukraine — the country's oil and gas revenues —doubled in April despite sanctions. Bloomberg data also indicates Moscow will see approximately $126 billion in oil and gas tax revenue in 2024. That said, Bloomberg reported that April's oil and gas revenue to Russia's budget still dropped by about 6.4% compared to March, primarily due to substantial subsidies to the nation's fuel producers.

Persons: —, Vladimir Putin's, Bloomberg Organizations: Bloomberg, Service, Russia's Federal Tax Service, Bloomberg Economics Locations: Ukraine, Russia's, Russia, Moscow, China, India, Persian

Their friendship was tested in 2017 when then President Trump supported a blockade of Qatar led by Saudi Arabia and the United Arab Emirates. Before the Oct. 7 attack, the Saudis were in serious talks, led by the United States, to recognize Israel. 8 of 12 Israel has a major incentive to strengthen relations with Saudi Arabia. Saudi Arabia, for its part, would benefit from direct access to the Israeli military and technology sector. In March 2023, China brokered a breakthrough, re-establishing ties between two of the region’s heavyweights, Iran and Saudi Arabia.

Persons: Benjamin Netanyahu, brandished, Jake Sullivan, —, frenemies, Israel, Netanyahu’s, Trump, Biden, Saudi Crown Prince Mohammed bin, Prince Mohammed, Bashar al, Assad, Saddam Hussein, Jordan —, hesitantly, Abraham Organizations: of Friends, General Assembly, U.S, America, Hamas, United, United Arab Emirates, Saudi Crown, Arab League, Saudi Arabia, Red Sea, Iranian, Abraham Accords, United Arab, Palestine Liberation Organization, West Bank, Palestinian Authority, The, Trump, Biden, Israel Defense Forces, United Nations, New York, Facebook Locations: India, Persian, Israel, Europe, Iran, United States, U.S, East, China, Russia, Ukraine, Syria, Yemen, Turkey Syria Lebanon Afghanistan Israel Iraq Iran Pakistan Egypt India Qatar Saudi Arabia Sudan Oman, Israel Yemen Turkey Syria Lebanon Afghanistan Israel Iraq Iran Pakistan Egypt India Qatar Saudi Arabia Arabian, Sudan, Sea Oman, Israel Yemen Ethiopia Turkey Syria Lebanon Afghanistan Israel Iraq Iran Pakistan Egypt India Qatar Saudi Arabia Arabian, Sudan Oman, Israel Yemen Ethiopia, Gaza, Qatar, Saudi Arabia, United Arab, Saudi, Tehran, Iraq, Assad, Lebanon, Lebanese, Egypt, Jordan, Bahrain, United Arab Emirates, Morocco, Fatah, Israeli, Turkey, America

☆ Why the oil market shrugged as Iran and Israel appeared on the brink of war this week
▼ + stars: | 2024-04-20 | by ( ) www.cnbc.com time to read: +3 min

U.S. crude oil and global benchmark Brent finished out the week about 3% lower, despite the fact that Iran and Israel traded direct strikes against each other's territory for the first time. Fears that oil prices could shoot to $100 a barrel or above did not materialize. The market has essentially erased the risk premium associated with the Iran-Israel tensions after traders bid up prices last week on war fears. "These skirmishes did not impress the oil markets, which believe that no disruption to oil flows will occur." Papic said a sustained war between Israel and Iran is difficult to imagine and may even be practically impossible.

Persons: Ali Mohammadi, Israel, Manish Raj, John Kilduff, Marko Papic, Papic, Brent, Kilduff, CNBC's Organizations: Persian Gulf, Bloomberg, Getty, Brent, Israel's, Israel, Traders, Velandara Energy Partners, Again, International Atomic Energy Agency, Clocktower Locations: Bandar Abbas, Iran, Israel, U.S, Damascus, Syria, Tehran

☆ The week that life in Dubai ground to a halt
▼ + stars: | 2024-04-20 | by ( Abbas Allawati | Abbas Al Lawati | ) edition.cnn.com time to read: +9 min

The United Arab Emirates, of which Dubai is part, saw the heaviest rainfall in at least 75 years, with more than a year’s worth of precipitation in 24 hours. Abandoned vehicles on a flooded highway after a rainstorm in Dubai, United Arab Emirates on Wednesday. People stand as flood water caused by heavy rains covers the stairs of a residential building, in Dubai, United Arab Emirates on Wednesday. A man walks in flood water caused by heavy rains, with the Burj Khalifa tower visible in the background, in Dubai, United Arab Emirates, April 17, 2024. Residents move their belongings on a kayak at a flooded residential complex following heavy rainfall, in Dubai, United Arab Emirates on Thursday.

Persons: hadn’t, Christopher Pike, ”, Sofie, Sheikh, Avinash Babur, Amr Alfiky, Babur, Amr Alfiky Amr Alfiky, Ali Salem, “, wasn’t Organizations: UAE CNN, United, United Arab Emirates, Bloomberg, Getty, Dubai Marina, CNN, “, Dubai “, REUTERS, Reuters, . Schools Locations: Dubai, UAE, United Arab Emirates, Ras Al, Khaimah, Persian, United Arab, Western, lockdowns, freezers, United States, China, Burj Khalifa, Jumeirah

☆ Dubai flooding: Chaos as UAE records heaviest rainfall in 75 years
▼ + stars: | 2024-04-17 | by ( Brandon Miller | Nadeen Ebrahim | ) edition.cnn.com time to read: +6 min

Cars are stuck on a flooded road after a rainstorm hit Dubai, United Arab Emirates on Wednesday. Large jets looked more like boats moving through the flooded airport as water sprayed in their wake and waves rippled through the deep water. Video shared on social media showed furniture flying off balconies. Images published in local media showed traffic gridlocked on Dubai’s Sheikh Zayed Road, a 16-lane thoroughfare. Other videos from social media showed water rushing through a major shopping mall and inundating the ground floor of homes.

Persons: UAE CNN —, Rula Rouhana, Ras, Dubai International Airport –, Dubai’s Sheikh, Stringer Organizations: UAE CNN, United, United Arab Emirates, United Nations, Emergency Management, Wednesday, Dubai International Airport, Emirates, Flydubai, Dubai International, AFP, Getty, Dubai Marina, Dubai Metro, Anadolu, National, of Meteorology Locations: Dubai, UAE, United Arab, Gulf of Oman, Oman, Iran, Ras Al, Khaimah, Pakistan, Iran’s, Chabahar, Sistan, Baluchestan, Emirates, Dubai’s, Business, Persian

☆ 'Iran is in for the long haul' with oil tanker hijacks, expert says, as U.S. considers more sanctions
▼ + stars: | 2024-04-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Before this weekend's tanker seizure, the last vessel Iran hijacked was the St. Nikolas on January 1. A Planet Labs satellite image of the location of the MSC Aries and other tankers recently hijacked by Iran. Planet Labs PBCAs the U.S. considers more sanctions against Iran in response to its recent attack on Israel, Iran has been using the hijacked ships as a means of sanctions retaliation. Iran chose to do this as a way to compensate for sanctions," Madani said. In a note to clients, ClearView highlighted that the House of Representatives added several Iran sanctions bills to its calendar for consideration this week, under suspension rules, including new sanctions on Iranian oil exports to China.

Persons: Nikolas, Houthis, Samir Madani, Eyal Ofer's, Madani, Janet Yellen, Helima Croft, Andy Lipow, Brent, Lipow, Kevin Book, Book Organizations: Anadolu, Getty, MSC Aries, U.S . Naval Forces Central Command, Galaxy Leader, MSC, Planet Labs, U.S . Energy Information Agency, United Arab, JPMorgan, CNBC, Lipow Oil Associates, ClearView Energy Partners, US, UN Locations: Gulf of Oman, Hormuz, Anadolu, Iran, Israel, Gaza, U.S, Iranian, Khuran, China, Russia, Malaysia, United Arab Emirates, Oman, Strait, Tehran, East, North Africa, India, Saudi Arabia, Kuwait, Iraq, France, Germany

Donald J. Trump plans to meet with the right-wing president of Poland this week, the latest in a series of his private interactions with leaders or emissaries from countries from the Persian Gulf to Eastern Europe, many of whom share an affinity with his brand of politics. Mr. Trump is expected to have dinner in New York with Poland’s president, Andrzej Duda, on Wednesday, his one day off from court this week, according to two people briefed on the arrangements who were not authorized to discuss them publicly. The meeting was mentioned as a possibility by Mr. Duda on X shortly after The New York Times approached his office for comment. It will be a reunion for Mr. Trump and Mr. Duda, who once proposed naming a military base after Mr. Trump and who now shares power in Poland with a rival whose politics are much more aligned with those of President Biden. Mr. Trump’s other recent interactions with foreign leaders and their representatives include a phone call he had last month with King Hamad bin Isa Al Khalifa of Bahrain, which was previously undisclosed.

Persons: Donald J, Trump, Andrzej Duda, Duda, X, Biden, King Hamad bin Isa Al Khalifa, ” Organizations: New York Times, Mr, Bahraini Locations: Poland, Persian, Eastern Europe, New York, Bahrain

☆ Oil Markets Shrug Off Iran’s Attack on Israel
▼ + stars: | 2024-04-15 | by ( Stanley Reed | More About Stanley Reed | ) www.nytimes.com time to read: +1 min

Oil markets shrugged off the growing tensions in the Middle East, after Iran launched a barrage of missiles and drones against Israel over the weekend. On Monday morning, prices for Brent crude oil, the international benchmark, fell by about 1 percent, to $89.49 a barrel. So far, there has been relief that the much-anticipated attack did little damage and had no effect on supplies. Oil prices had already increased substantially in the days before the assault, rising above the symbolic $90 a barrel level last week. Rystad Energy, a consulting firm, calculates that on fundamentals, Brent should be selling for $84 a barrel.

Persons: Goldman Sachs, Brent, ”, Helima Croft Organizations: Brent, Rystad Energy, RBC Capital Markets Locations: Iran, Israel, Persian

☆ 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

☆ 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

☆ Coral bleaching: Ocean heat is driving a mass bleaching event, and it could be the worst on record
▼ + stars: | 2024-04-15 | by ( Rebecca Wright | ) edition.cnn.com time to read: +6 min

CNN —Coral reefs around the world are experiencing a mass bleaching event as the climate crisis drives record-breaking ocean heat, two scientific bodies announced Monday — with some experts warning this could become the worst bleaching period in recorded history. If ocean temperatures don’t return to normal, bleaching can lead to mass coral death, threatening the species and food chains that rely on them with collapse. Professor Ove Hoegh-Guldberg, a climate scientist specializing in coral reefs based at the University of Queensland in Australia, predicted this mass bleaching event months ago. In February, scientists at the Coral Reef Watch program at NOAA added three new alert levels to the coral bleaching alert maps, to enable scientists to assess the new scale of underwater warming. Bex Wright/CNNIn mid-February, CNN witnessed extensive coral bleaching on Australia’s Great Barrier Reef – the world’s largest coral reef system – on five different reefs spanning the northern and southern areas.

Persons: ” Derek Manzello, Ove Hoegh, “, Guldberg, ”, Lillian Suwanrumpha, Niña, El, Manzello, ” Manzello, Lady Elliot, Bex Wright, Selina Stead, ” Stead, David Ritter Organizations: CNN, Atlantic, National Oceanic, Atmospheric Administration, Reef, Reef Watch, Pacific, University of Queensland, NOAA, Getty, Niña, Australian Institute of Marine Science, Park Authority, AIMS, UN, Greenpeace Locations: Pacific, Florida, Caribbean, Mexico, Brazil, Australia, Persian Gulf, Indonesia, Africa, Seychelles, Raja Ampat, Indonesia's West Papua, AFP, El, Lady, Greenpeace Australia

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