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☆ Opinion: What Iran wants — and fears
▼ + stars: | 2024-02-13 | by ( Opinion Hussein Ibish | ) edition.cnn.com time to read: +7 min

Iran has backed Hezbollah’s efforts to avoid an all-out war with Israel despite consistent Israeli escalation and threats. Hezbollah doesn’t want a war with Israel and Iran agrees. The potential for such US or Israeli airstrikes is among the most significant reasons Iran wants to avoid a broader conflict. Tehran has already restrained its Iraqi proxies, is working to help Hezbollah climb down and avoid a devastating Israeli attack. And Iran is probably urging the Houthis to take great care not to kill Americans or otherwise go too far.

Persons: Hussein Ibish, Read, Hussein Ibish It’s, Biden, Israel, Kataib, Saleh Al, Wissam, Amos Hochstein, Ebrahim Raisi, Shannon Stapleton, It’s Organizations: Gulf States Institute, Israel, CNN, Washington, Radwan Force, Iranian Locations: Washington, Iranian, Iran, Iraq, Syria, Lebanon, Gaza, Yemen, United States, Saudi Arabia, Russia, China, Saudi, That’s, Israel, Jordan, Hezbollah’s, Beirut, Tehran, Yemeni, Suez, Strait, Hormuz, Bab, Mandab

FRANKFURT, Germany (AP) — Missiles and drones are flying in the Red Sea, disrupting one of the world's key trade arteries and a chokepoint for energy shipments headed for Europe. Last year, 12.9% of Europe's LNG went through the Red Sea from suppliers in the Middle East, mainly Qatar. That means “an extended shut-in of the Red Sea route from the Middle East poses a supply risk to Europe,” said Kaushal Ramesh, vice president at Rystad Energy. So far, there's been little to no impact on natural gas prices. Europe is getting a break because demand for natural gas is weak amid a sluggish economy.

Persons: Yemen's Houthi, it's, ”, Kaushal Ramesh, there's, ” Rystad's Ramesh, Simone Tagliapietra, Tagliapietra, Biden, Vladimir Putin, Joe Biden, Jennifer Granholm, Eurogas, Tagliapeitra, Claudia Kemfert, ___ Daly Organizations: Missiles, Union, SEA, Italy's, Europe's, Rystad Energy, WHAT'S, Energy, Industry, German Institute of Economic Research, Leuphana University Locations: FRANKFURT, Germany, Red, Europe, Italy, Russia, Ukraine, Mandab, Israel, U.S, Yemen, Africa, Suez, Qatar, China, Norway, Azerbaijan, Brussels, Iran, Hormuz, Persian, That's, ”, Asia, ” U.S, USA, EU, Washington

☆ Oil prices steady as Fed moves carefully on rate cuts, U.S. pushes for pause in Gaza war
▼ + stars: | 2024-02-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Oil prices were largely flat Monday as the Federal Reserve moves carefully on interest rates cuts, and the U.S. pushes for an extended pause in the Israel-Hamas War. The West Texas Intermediate contract for March dropped 31 cents, or 0.46%, to trade at $71.95 a barrel Monday morning. Powell's comments came after a much stronger jobs report than expected Friday, with the labor market adding 353,000 jobs compared to 185,000 expected. "With the economy strong like that, we feel like we can approach the question of when to begin to reduce interest rates carefully," Powell told CBS' "60 Minutes." Lower interest rates typically boost economic growth which would imply stronger crude oil demand.

Persons: Brent, Jerome Powell, Powell's, Powell, Antony Blinken, Blinken Organizations: Safeway, Federal Reserve, West Texas Intermediate, Federal, CBS, West Bank, Iran's Islamic Revolutionary Guard Corps, U.S, Houthi Locations: Hercules , California, U.S, Israel, Gaza, East, Saudi Arabia, Egypt, Qatar, Iran, Strait, Hormuz, The U.S, Iraq, Syria, Yemen, Red

☆ Oil edges up as geopolitical concerns support prices
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose in early trade on Tuesday as escalating geopolitical tensions in the Middle East continued to fuel supply concerns. "If U.S.-Iran tensions escalate, particularly through a direct confrontation, the risk rises that Iran's oil supply is adversely impacted. Iran exported 1.2-1.6 million barrels per day of crude oil through most of 2023, Dhar added, representing 1-1.5% of global oil supply. The key concern is Iran threatening a blockade of the Strait of Hormuz, which sees the transit of 15-20% of global oil supply," he added. Meanwhile, U.S. crude oil and distillates inventories were expected to have fallen last week while gasoline stocks were seen rising, a Reuters poll showed.

Persons: Brent, Vivek Dhar, Dhar Organizations: . West Texas, Commonwealth Bank of Australia, U.S, ANZ, Traders, Federal, Market, American Petroleum Institute, Energy Information Administration, U.S . Department of Energy Locations: Hong Kong, China, Washington, Jordan, Iran, Israel, Gaza, Hormuz, Red, U.S

JERUSALEM (AP) — Iran is “very directly involved” in ship attacks that Yemen's Houthi rebels have carried out during Israel's war against Hamas, the U.S. Navy's top Mideast commander told The Associated Press on Monday. The tempo of Houthi attacks on shipping appears to have slowed for the time being as the U.S. and its allies have increased their naval patrols in the region. A series of attacks blamed on Iran and ship seizures by Tehran followed the collapse of Iran's nuclear deal with world powers. However, Cooper maintained Iran had been directly fueling the Houthi attacks on shipping. There’s no secret there.”Cooper described the ship attacks striking the Mideast as the worst since the so-called Tanker War of the 1980s.

Persons: Yemen's, Adm, Brad Cooper, Cooper, ”, Houthi, that's, Israel —, they’re resourcing, ” Cooper, George Wikoff Organizations: JERUSALEM, Hamas, Associated Press, AP, United Nations, U.S ., Fleet, United, United Arab Emirates, 5th Fleet, Navy, military's, Command Locations: Iran, U.S, Tehran, Aden, Persian, Hormuz, Yemen's, Sanaa, Iranian, Suez, Asia, Europe, Saudi, Israel, Africa's, Egypt, Gulf, Gaza, Washington, America, American, Yemen, Abu Dhabi, United Arab, Bahrain

☆ Surging U.S. oil production may set a record in 2024, shielding consumers from Mideast war and pressuring OPEC
▼ + stars: | 2024-01-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +7 min

Supply is forecast to grow by 1.5 million barrels per day to a new high of 103.5 million barrels per day, according to the IEA. Demand will grow by 1.2 million barrels daily, down from 2.3 million in 2023, with the post-pandemic recovery over and major economies set to slow. WTI and Brent closed out 2023 down more than 10% and OPEC+ production cuts have so far failed to lift prices. Goldman Sachs, for example, says oil prices could double if there is a prolonged disruption to shipments through the Strait of Hormuz. 'Golden era' Stronger U.S. oil production in 2023 surprised even oil industry CEOs such as Chevron's Wirth and Occidental's Vicki Hollub, they told CNBC in recent interviews.

Persons: Michael Wirth, Wirth, CNBC's Brian Sullivan, Goldman Sachs, Walt Chancellor, Daniel Yergin, Brent, Adi Imsirovic, Imsirovic, Yergin, Bob Yawger, Yawger, Matt Smith, Smith, Chevron's Wirth, Occidental's Vicki Hollub, I'm, Macquarie, Chancellor, Hollub, — Organizations: P, Energy Information Agency, Chevron, P Global, CNBC, Economic, West Texas, Center for Strategic, International Studies, OPEC, Bank of America, Oil, International Energy Agency, IEA, Brent, Mizuho, Gulf, Americas, Western Hemisphere Locations: East, U.S, Macquarie, Davos, Switzerland, Canada, United States, United Kingdom, OPEC, Brazil, Guyana, Americas, Europe, Red, Kpler, Iran, Hormuz

How Houthi Attacks Have Upended Global ShippingShipping routes before attacks After attacks EUROPE ASIA Suez Canal Red Sea Gulf of Aden Malacca Strait AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE ASIA Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic Ships diverted after attacks Cape of Good Hope Note: To show the changing paths of ships that regularly traverse the Red Sea, 3,461 cargo vessels recorded at entrances to the Red Sea in the last three months are shown. Those detours, and the Houthi attacks, have persisted despite airstrikes by the United States and its allies against the Houthis. Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Three commercial vessels were struck in one day on Dec. 3. Nov. 15, 2023 Dec. 1 Dec. 15 Jan. 1, 2024 Jan. 15 Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Nov. 15, 2023 Armed Houthi fighters boarded a commerical vessel. The Houthi attacks have delayed China’s annual surge in exports before its factories are idled next month for the Lunar New Year.

Persons: Cape, Jan, JPMorgan Chase, Port Said Organizations: Global Shipping Shipping, Atlantic, Ships, Good Hope Shipping, Shipping, United States Central Command Shipping, Ikea, East, JPMorgan, Maersk, U.S . Energy Information Administration, Rotterdam EUROPE Venice, Good Hope, EUROPE Venice, International Monetary, Trade, Galaxy Leader, U.S . Navy, America Locations: ASIA Suez, Aden Malacca Strait AFRICA, ASIA Suez Canal Gulf, Aden Red, Suez Canal Gulf, Suez, Africa, Yemen, Israel, Gaza, United States, U.S, Asia, Europe, China, Northern Europe, East Coast, Maersk Hong Kong, The Singapore, Singapore, Slovenia, Port Said, Egypt, Port, Russia, Ukraine, India, Rotterdam EUROPE, Rotterdam EUROPE Venice Barcelona, Istanbul ASIA SYRIA LEBANON IRAN ISRAEL IRAQ Strait, Hormuz GAZA Suez, Kuwait, Red, Mumbai Malacca, YEMEN AFRICA, Aden, Good, Good Hope EUROPE ASIA SYRIA LEBANON ISRAEL IRAN IRAQ GAZA Suez, Strait, Hormuz Red, YEMEN, EUROPE, EUROPE Venice Tokyo Barcelona, Istanbul Shanghai ASIA SYRIA LEBANON IRAN ISRAEL IRAQ GAZA, Hormuz Hong, Suez Canal Kuwait, AFRICA Red, Mumbai Bangkok YEMEN Malaca, Istanbul Shanghai SYRIA LEBANON IRAN ISRAEL IRAQ ASIA GAZA, Suez Canal AFRICA Kuwait City Red, Red Sea, Beijing

☆ Red Sea shipping crisis unlikely to lift inflation much, UBS says. Here's why
▼ + stars: | 2024-01-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Inflation is unlikely to rise much in the U.S. as a result of global shipping costs spiking due to militant attacks in the Red Sea, according to UBS. U.S. freight costs have soared 64% since mid-November when Houthi militants in Yemen began to target commercial vessels transiting the Red Sea, according to the bank. "The impact from shipping costs alone to inflation is likely very small," Kapteyn said. But Kapteyn said the Red Sea disruptions will have less of an effect than the supply chain disruptions that helped fuel inflation during the pandemic. The attacks in the Red Sea come as traffic is also restricted through the Panama Canal due to low water levels from a drought.

Persons: Arend Kapteyn, Kapteyn, Good Hope, Goldman Sachs Organizations: UBS, U.S, Daily, Shipping, JPMorgan, Macquarie, Wall Locations: U.S, Red, Yemen, Suez, Bab, Mandeb, Good, Africa, Panama, Iran, Macquarie, Persian, Hormuz, Strait

☆ Iran struck Pakistan with missiles and drones as the 2 countries held a joint naval exercise
▼ + stars: | 2024-01-17 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +2 min

Read previewIran's missile and drone attack on neighboring Pakistan earlier this week came as the two countries reportedly held a joint naval exercise in the Persian Gulf. "We targeted Jaish al-Adl, not Pakistani citizens," Amirabdollahian said, per the Islamic Republic News Agency (IRNA), Iran's state news agency. Related stories"We respect the sovereignty and territorial integrity of Pakistan, but we won't allow Iran's security to be compromised," he added. While Iran was attacking Pakistan from the air, the two nations held joint military exercises in the Strait of Hormuz and the Persian Gulf. We will react from any area that threatens Iran," said the minister.

Persons: —, Hossein Amirabdollahian, Amirabdollahian, General Mohammadreza Ashtiani Organizations: Service, Business, Economic, Adl, Islamic Republic News Agency, Iranian Navy, Pakistani Navy, Islamic Revolutionary Guard Corps, ISIS, Defense Locations: Pakistan, Persian, Iran, Davos, Switzerland, Strait, Hormuz, Iraq, Syria, Israeli

☆ The 2 Navy SEALS lost at sea were reportedly conducting an operation to find smuggled Iranian weapons
▼ + stars: | 2024-01-16 | by ( Jake Epstein | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe two Navy SEALs who went missing off the coast of Somalia last week were conducting an operation to find smuggled Iranian weapons when the incident occurred, according to a report. US Central Command, or CENTCOM, said the pair were reported missing at sea on Thursday evening while "conducting operations" near Somalia and that a search-and-rescue mission was underway. White House National Security Council spokesperson John Kirby appeared to confirm on Sunday that the SEALs were involved in an operation of this type when they went missing last week. The Gulf of Aden, where the SEALs went missing, has warm but powerful waters.

Persons: —, CENTCOM, John Kirby, we've, Kirby Organizations: Service, Navy, Business, US Central Command, 5th Fleet, Washington Post, White, National Security, CBS Locations: Somalia, Strait of Hormuz, Yemen, Aden, Iran, Tehran, Gulf

☆ Oil ticks up as Middle East crisis escalates, tankers divert
▼ + stars: | 2024-01-16 | by ( ) www.cnbc.com time to read: +1 min

An aerial view of a crude oil storage facility is seen on May 4, 2020 in Cushing, Oklahoma. Oil prices edged slightly higher on Tuesday as the Middle East crisis escalated and ship tracking data showed more tankers altering course away from the Red Sea in response to attacks in the area by Yemen's Houthi movement. U.S. West Texas Intermediate crude was down 17 cents, or 0.2%, at $72.52 per barrel after a U.S. public holiday on Monday. More oil tankers were steering clear of the southern Red Sea on Monday, due to the disruptions, increasing the cost of shipping and the time it takes to move oil from one place to another. Oil prices rose 2% last week in response to the rising conflict in the region, but the lack of direct impact on oil production could be limiting gains, according to analysts.

Persons: Yemen's, INTERTANKO Organizations: Brent, . West Texas, Combined Maritime Forces Locations: Cushing , Oklahoma, ., U.S, Iran, Yemen, Bahrain, Mandab, Hormuz

☆ Oil slips; investors eye Mideast developments
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: +2 min

Brent crude futures fell 31 cents, or 0.4%, to $77.98 a barrel by 0124 GMT after settling up 1.1% on Friday. The U.S. later said it shot down a missile fired at one of its ships from Houthi militant areas of Yemen. "As the Middle East conflict is currently not affecting oil production, the geopolitical risk premium priced in oil prices now appears modest based on the implied volatility of options," Goldman Sachs analysts said in a note. "While unlikely to materialize in our view, we estimate that oil prices would rise 20% in the first month of a Strait of Hormuz interruption, and may temporarily double in a less likely extended disruption." In Libya, people protesting against perceived corruption threatened to shut down two more oil and gas facilities after shutting the 300,000 barrel-per-day Sharara field on Jan. 7.

Persons: Joe Biden, Goldman Sachs, Martin Luther King Organizations: U.S, . West Texas, British Locations: Yemen, Red, Iran, Gaza, United States, Strait, Hormuz, Libya, U.S

☆ Why ISIS has unleashed its suicide bombers against Iran
▼ + stars: | 2024-01-14 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +7 min

By the day's end of the day, scores of supporters of the rulers of Iran were dead, and hundreds were injured in a twin suicide bombing. AdvertisementHe was considered a hero, she said, by many in Iran for driving ISIS out of Iraq and helping to defeat them in Syria. Stringer/Anadolu via Getty ImagesIt was the latest in a string of attacks by the ISIS affiliate that has been targeting Iran for five years. The Iranian intelligence ministry sought to blame its old enemy Israel for the atrocity and said one of the bombers had Israeli citizenship, the Times of Israel reported. AdvertisementThey will continue to attempt attacks against Iran "no matter what," Washington Institute for Near East Policy expert, Aaron Zelin, told the VoA.

Persons: Qassem, —, Qassem Soleimani, Kerman, Barbara Slavin, Soleimani, Stringer, Khomeini's, Abdollah Tajiki, Slavin, It's, it's, White, John Kirby, Ayatollah Ali Khamenei, Saudi King Salman, Prophet Mohammed, Salvin, Donald Trump, Aaron Zelin Organizations: Sunni, Service, Revolutionary, Reuters, The Stimson Center, Iran Initiative, Asia Center, ISIS, Anadolu, Getty, Iranian, Ministry of Intelligence, Revolutionary Guard, Saudi, US, UK, Red, Quds Force, The Stimson, Washington Institute for Near East, VoA Locations: Kerman, Iran, Iraq, Syria, Afghanistan, Asia, Kerman City, Tehran, Tajik, Israel, Saudi Arabia, Hormuz, Soleimani, Iranian, Fars, Republic, Yemen, Iran's, United States, al Qaeda, American

☆ Oil prices rise as US-led strikes in Yemen raise fears of wider conflict
▼ + stars: | 2024-01-12 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —US-led airstrikes on Houthi targets in Yemen rattled energy markets on Friday, sending oil prices sharply higher. Oil prices rose sharply after US-led strikes on multiple Houthi targets in Yemen in response to repeated attacks on commercial shipping in the Red Sea. Another concern is that oil facilities in Saudi Arabia could get hit by a retaliatory strike from the Houthis. In 2019, roughly 5% of world oil supply was briefly knocked offline in a large-scale drone attack on Saudi oil facilities. Despite Friday’s gains, oil prices remain lower than where they were before the October 7 attacks by Hamas against Israel due to concerns about oversupply.

Persons: Brent, “, ”, Robert Yawger, ” Yawger, John Kirby, CNN’s Becky Anderson, ” Kirby, ” Matt Smith, ” Helima Croft, Croft, ” Croft Organizations: New, New York CNN, Mizuho Securities, White House National Security Council, RBC Capital Markets, CIA Locations: New York, Yemen, East, Red, Iran, Saudi Arabia, Saudi, Gulf of Oman, Hormuz

☆ Oil prices rise more than 2% after US, Britain strikes in Yemen
▼ + stars: | 2024-01-12 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose more than 2% on Friday as the United States and Britain carried out strikes against Houthi military targets in Yemen in retaliation for attacks by the Iran-backed group on shipping in the Red Sea starting from late last year. The Houthi attacks in the Red Sea have disrupted international commerce on the key route between Europe and Asia, which accounts for about 15% of the world's shipping traffic. Since October, Houthis have attacked commercial vessels in the Red Sea to show support for Palestinian militant group Hamas in its fight against Israel. Shipping giant Maersk said on Thursday it will divert all vessels away from the Red Sea for the foreseeable future, warning customers of further disruptions. The Houthi attacks have been concentrated on the Bab al-Mandab Strait to the southwest of the Arabian Peninsula.

Persons: Joe Biden, Houthis Organizations: Brent, U.S, West Texas, Palestinian, Hamas, Israel . Shipping Locations: Midland , Texas, U.S, United States, Britain, Yemen, Iran, Red, Israel, Australia, Bahrain, Canada, Netherlands, Europe, Asia, Turkey, Mandab, Hormuz, Oman

☆ Iran seizes oil tanker in the Gulf of Oman
▼ + stars: | 2024-01-11 | by ( Mostafa Salem | Adam Pourahmadi | ) edition.cnn.com time to read: +3 min

Abu Dhabi CNN —Iran has seized an oil tanker in the Gulf of Oman and is transferring it to an Iranian port in retaliation for the United States confiscating the same vessel and its oil last year, Tasnim News Agency reported Thursday. The Strait of Hormuz at the northern end of the Gulf of Oman is the biggest oil chokepoint in the world. A maritime monitoring website, Tanker Trackers, said the vessel seized Thursday was a Marshall Islands-flagged crude oil tanker named St Nikolas, formerly known as the Suez Rajan. Almost 1 million barrels of Iranian crude oil were seized by the US government at the time, the DOJ said. The Suez Rajan transported the contraband to the United States and “incurred the significant expenses associated with the vessel’s voyage to the United States,” according to the DOJ.

Persons: St Nicholas, ”, UKMTO, Nikolas, Suez Rajan, “ Organizations: Abu Dhabi CNN, Tasnim News Agency, Islamic Revolutionary Guard Corps, Navy, United Nations, CNN, United Kingdom Maritime Trade Operations, ship’s Company, Oil, Tanker, US Department of Justice, DOJ, Emergency Economic, Navigation Locations: Abu Dhabi, Iran, Gulf of Oman, Iranian, United States, Oman, Islamic Republic, Gulf, Yemen, Gaza, Africa, Israel, Hormuz, Marshall, Suez, China

☆ U.S. crude oil falls 4% as Saudi price cut heightens global demand worries
▼ + stars: | 2024-01-08 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

An employee in a branded helmet is pictured at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. U.S. crude oil declined 4% on Monday after Saudi Arabia slashed its prices, raising renewed worries that the market is oversupplied at the same time as demand is weakening. The Saudi price cut comes amid persistent market weakness due in large part to record U.S. crude production and softening demand in China. Maybe the landing might not be so soft," Phil Flynn of The Price Futures Group wrote on Monday. U.S. crude exports also rose by more than 1 million barrels per day to 5.2 million barrels per day in the same period.

Persons: Brent, Phil Flynn, Flynn, Antony Blinken, Bob Yawger, Yawger Organizations: West Texas Intermediate, Saudi Aramco, OPEC, The Price Futures, Mizuho, CNBC PRO Locations: Saudi Aramco, Abqaiq, Saudi Arabia, Saudi, China, ., Iran, Lebanon, Strait, Hormuz, U.S, Riyadh

☆ Oil prices could spike 20%, possibly double if Middle East conflict disrupts Strait of Hormuz
▼ + stars: | 2024-01-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

Shipping can be rerouted away from the Red Sea, but crude would be essentially trapped if the strait is shut down, Struyven said. A prolonged disruption in the strait could eventually double oil prices, he said. McNally thinks the market should be factoring in a $12 geopolitical risk premium in oil prices right now. Wirth told CNBC's Sullivan that Chevron is currently working with the U.S. Navy to protect its vessels transiting the Red Sea. "Hopefully, if it doesn't escalate further, we'll be OK — even if there has to be a wholesale diversion of shipments around the Red Sea," Granholm said.

Persons: you've, Daan Struyven, Goldman Sachs, CNBC's Brian Sullivan, Struyven, Bob McNally, McNally, Bush, Antony Blinken, Daniel Yergin, Yergin, Michael Wirth, Tehran's, Wirth, CNBC's Sullivan, Joe Biden's, Jennifer Granholm, Granholm, Israel, Benny Gantz, Gantz, Biden's, Bob Yawger, Yawger, Brent Organizations: Shipping, Rapidan Energy Group, National Security Council, P Global, Brent, Chevron, U.S . Navy, NBC News . Energy, Mizuho, Energy Information Agency, Gulf Locations: Red, Iran, Hormuz, Persian, Israel, Strait, Yemen, Danish, U.S, Lebanon, Beirut, Lebanese, Islamic Republic, The U.S, Europe, South Africa, United States, East

☆ These Middle East flashpoints could trigger regional conflict that impacts oil prices
▼ + stars: | 2024-01-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +9 min

There are several key flashpoints where the Israel-Hamas war could escalate into a regional conflict that has a material impact on oil, according to the firm. Those flashpoints are the Red Sea, Lebanon and Iraq, analyst Helima Croft wrote in a note to clients this week. Crude prices fell Tuesday despite renewed attacks by Houthi militants in the Red Sea over the weekend. Maersk stopped shipping through the Red Sea again and is rerouting vessels around the Cape of Good Hope in South Africa. Some 12% of global trade and about 3 million barrels of crude oil pass through the Red Sea per day, according to RBC Capital Markets.

Persons: Helima Croft, Croft, Adi Imsirovic, Imsirovic, Steven Schoenfeld, Schoenfeld, Goldman Sachs, Tehran's Houthi, Donald Trump ratcheted, Biden, Benny Gantz, Israel, Saleh al, Joe Biden, Trump, Qasem Soleimani Organizations: RBC Capital Markets, Maersk, West Texas Intermediate, CNBC, Tuesday, Traders, Investors, Center for Strategic, International Studies, U.S, Prosperity, U.S . Navy, U.S . Central Command, JPMorgan, Israel Defense Forces, Three U.S, Washington Locations: Israel, Sea, Lebanon, Iraq, Red, Danish, Libya, Russia, Ukraine, Iran, U.S, Yemen, The U.S, Mandeb, Aden, Britain, Hangzhou, South Africa, Suez, Asia, Europe, Hormuz, Islamic Republic, Tehran, Beirut, Croft, Erbil, Three

☆ Gas prices drop more than 60 days in a row
▼ + stars: | 2023-11-28 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Gas prices have now fallen every day since the peak on September 18, AAA data shows. However, it’s normal for gas prices to cool off once the summer driving season ends because demand drops. Gas prices are now down 63 cents since hitting $3.88 in September. Yet oil prices — the main driver of retail pump prices — also have tumbled about 20% since briefly topping $95 a barrel on September 28. No matter the reason, gas prices are falling around the country.

Persons: That’s, ”, Tom Kloza, Kloza, OPIS, “ It’s, ” Kloza Organizations: New, New York CNN, AAA, Oil Price Information Service, Saudi Locations: New York, Israel, Hormuz, Iran, Ukraine, Saudi Arabia, China, OPEC, United States, Wisconsin , Ohio, South Carolina, Hawaii, Washington, California

☆ Missiles were fired toward a US Navy destroyer responding to an attempted hijacking near Yemen. The same warship was targeted in this area years ago.
▼ + stars: | 2023-11-27 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Missiles were fired from Houthi-controlled territory toward a US Navy ship responding to an attempted hijacking on Monday. The ship, the destroyer USS Mason, was targeted by the Iran-backed rebels near Yemen a few years ago. AdvertisementMissiles were fired from Houthi-controlled territory on Monday toward a US Navy destroyer that rescued a commercial vessel from an attempted hijacking off the coast of Yemen. When the Mason arrived at the scene alongside allied ships, they demanded the release of the Central Park. The Houthis have launched drones and missiles that US Navy warships in the Red Sea have had to shoot down.

Persons: Mason, —, CENTCOM, Blake Midnight, Michael Erik Kurilla, Arleigh Burke, Dwight D, Houthi, Benjamin Netanyahu Organizations: US Navy, Service, Missiles, Central Command, Pentagon, Mason Mass, U.S . Navy, AP, Eisenhower Carrier Strike, CSG, Navy, Galaxy Leader, Houthi Military, REUTERS, Business, Hamas, Israel Defense Forces Locations: Iran, Yemen, Israel, Gulf, Aden, Somalia, Suez, Hormuz, Arabian, Red, Lebanon, Iraq, Syria

A deal for a temporary cease fire was inching into view in Israel's war against Hamas, but Prime Minister Benjamin Netanyahu tempered expectations by vowing that the war would continue even if a deal is reached. “We are at war, and we will continue the war,” he said. Israel has vowed to continue the war until it destroys Hamas’ military capabilities and returns all hostages. Turkish President Recep Tayyip Erdogan, whose government maintains ties with Hamas officials, said Turkey’s foreign minister and intelligence chief were working with Qatari officials to negotiate releases. Hamas has released four hostages, Israel has rescued one, and the bodies of two were found near Shifa.

Persons: Benjamin Netanyahu, Netanyahu, Israel, Gaza — Israel, NETANYAHU, ”, “, Mostafa Madbouly, ” Madbouly, Israel —, Hadas Kalderon, Kalderon, John Kirby, Kirby, “ We’ve, ” NETANYAHU, ‘, ” Netanhayu, Khalil al, Hayya, Valdis Dombrovskis, ” BIDEN, WASHINGTON, Joe Biden, ” “, ” Biden, Biden's, Recep Tayyip Erdogan, Erdogan, Abdelmadjid Tebboune, Tebboune, ” Tebboune, ” Erdogan, Israel’s, Asad, Assad, Qassim Abdul, Bassem, Tara Copp, Benjamin Netanyahu’s, Sergey Lavrov, Lavrov, ” Lavrov, Ziad Makary, Farah Omar, Rabih Maamari, Kfar Kila, Laiqa Serhan, Reuters videojournalist, Abduallah, Qatar’s Al, Izzat, Ismail Haniyeh, Goren, Tal Chaimi, ” Netanyahu, Mosab Abu Toha, Hamza Abu Toha, Mosab, Hamza, ” Mosab Abu Toha, Abu, Abu Toha Organizations: Hamas, Senior, Palestinian, Troops, Health Ministry, West Bank, WAR, JERUSALEM, CAIRO —, Israel, White, National Security, Israel —, European Union, ” EU, HIT ISRAEL, Algerian, International Criminal, Hezbollah, Cabinet, MUSLIM, Arab League, Organization of Islamic Cooperation, United Nations Security Council, Lebanese, National News Agency, Reuters, Agence France, Jazeera, SEA DUBAI, United Arab Emirates, Galaxy Leader, U.S . Navy, OFFICIAL, PEN, Yorker Locations: Israel, United States, Qatar, Gaza, Gaza City, Gaza —, Iran, Yemen, Egypt, Cyprus, israel, Israeli, EGYPT, CAIRO, TEL AVIV, HAIFA, Beirut, EU, STRASBOURG, France, TURKEY, ALGERIA, GAZA ALGIERS, Algeria, Turkey, Turkish, BAGHDAD, Iraq, U.S, al, Baghdad, Anbar, Syria, Zahra, Bassem Mroue, Washington, JERUSALEM, “, Russian, Moscow, Russia, LEBANON, ISRAEL, BEIRUT, Lebanon, Kibbutz Manara, Kfar, IRAN, YEMEN, United Arab, Tehran, American, Red, Persian, Hormuz, Shifa

☆ Geopolitical instability and a packed election calendar have strategists wary of 2024
▼ + stars: | 2023-11-21 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

In a global risk survey carried out among 130 businesses last month by Oxford Economics, almost two fifths of respondents viewed the Israel-Hamas war as a very significant risk to the global economy over the next two years. "Deglobalisation and persistently higher oil prices, both of which could be triggered by an intensification of geopolitical tensions, are also fairly prominent in the latest survey," Oxford Economics researchers said. "Rising geopolitical tensions could trigger more trade restrictions across the globe, resulting in further economic fragmentation. "Ongoing geopolitical conflicts and tensions are likely to depress growth further, while adding to inflationary pressures that are beyond the control of central banks." "Early 2024 Taiwan elections will set the stage for the rest of the year.

Persons: Gil Cohen, Deglobalisation, Goldman, Roland Temple, Lazard Organizations: Hamas, magen, AFP, Getty, Oxford Economics, NATO, Oxford, Monetary Fund, Asset Management, West, Democratic Progressive Party, Kuomintang, KMT Locations: Gaza, Israel, China, Taiwan, Russia, U.S, South Africa, India, Ukraine, Ukrainian, Iran, Hormuz, United States, Beijing

☆ Yemen's Houthi capture ship on suspicion of Israeli connection
▼ + stars: | 2023-11-20 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Adnan Amin / 500Px | 500Px | Getty ImagesYemen's Iran-backed Houthi militants have captured what they called an Israeli ship in the Red Sea and taken it to the Yemeni coast, calling all Israeli vessels a "legitimate target." He urged the international community to avoid working with Israeli ships or owned by Israeli individuals. "Yemeni armed forces confirm that they will continue to carry out military operations against the Israeli enemy until the aggression against Gaza stops," the spokesperson said. On Monday, Japan's top government spokesperson confirmed the capture of the Nippon Yusen-operated ship, Galaxy Leader, according to Reuters. It is not an Israeli ship."

Persons: Adnan Amin, Houthi, Yahya Saree, Benjamin Netanyahu's, Netanyahu, Nasser Kanaani Organizations: Gaza, Nippon, Galaxy, Reuters, Google, Republic News Agency, Islamic Revolutionary Guard Corps Locations: Iran, Yemeni, Tokyo, Saudi, Omani, Bahamas, Yemen, Turkey, India, Israeli, British, Israel, Straits, Hormuz, Tehran

☆ U.S. crude oil fell into a bear market this week and could head lower as China 'haunts the market'
▼ + stars: | 2023-11-17 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

U.S. crude oil prices entered a bear market this week, down 22% from September highs as traders wrangle over whether the spiral is driven by market fundamentals or just speculation. Phil Flynn, an oil market analyst with the Price Futures Group, said hedge funds have piled into short positions. There is still some "grind lower" in prices in store unless more positive data comes out of China, he said. If prices keep falling, the U.S. will slip from record production because shale producers will have trouble making money and stop investing, he said. The group has blamed speculators for the recent selloff and insisted market fundamentals are strong with China demand healthy.

Persons: Leo Mariani, Roth MKM, Phil Flynn, John Kilduff, Flynn, Kilduff, Matt Maley, Miller, Daniel Yergin, Yergin, Brent, — CNBC's Pippa Stevens Organizations: West Texas, Brent, Price Futures, Energy Information Agency, Again, Traders, P Global, Organization of, Petroleum, UBS, OPEC Locations: China, U.S, Canada, Brazil, Guyana, East, Israel, Persian, Hormuz

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