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☆ The advertising environment is getting tougher to navigate. How these investors are trading it
▼ + stars: | 2023-11-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

A strong advertising market may be starting to feel the pressure from geopolitical risks erupting aboard and a higher-for-longer interest rate environment. But comments from some major technology players last week led to increasing questions that some investors have struggled to shake off. META 5D mountain Meta shares in recent trading sessions That concern added to declines in other ad-focused technology names, with Alphabet dropping nearly 10%. Instead, Tengler favors companies such as Amazon and Microsoft , which offer some, but less concentrated, exposure to advertising. Technology investor Paul Meeks is also shying away from the most popular advertising players — and big technology as a whole — until he sees a better setup for interest rates.

Persons: Susan Li, Gene Munster, Laffer, Nancy Tengler, Paul Meeks, Meeks, Roth, Rohit Kulkarni, Kulkarni, Michael Bloom Organizations: Apple, Meta, YouTube, Federal, Investments, Microsoft, Technology Locations: Israel, Munster, Ukraine

His statement confirmed the widening scope of a conflict that has unnerved states including the world's biggest oil exporter Saudi Arabia, hardening fears of spillover as Israel seeks to destroy Hamas in its Gaza Strip stronghold. The Houthis have demonstrated their missile and drone capabilities during the Yemen war in attacks on Saudi Arabia and the United Arab Emirates. Saudi Arabia has been holding talks with the Houthis in a bid to exit the war, as Riyadh focuses on economic priorities at home. But Houthi missile and drone attacks on Israel have increased the risks of conflict for Saudi Arabia. Saudi analyst Aziz Alghashian said Saudi Arabia would be worried about the conflict spilling across its own borders.

Persons: Yahya Saree, spillover, Saree, Tzachi Hanegbi, Hossein Amirabdollahian, Mohanad Hage Ali, Aziz Alghashian, Nadine Awadalla, Nayera Abdallah, Tom Perry, Henriette Chacar, Ari Rabinovitch, Mohamed Ghobari, Angus MacSwan, Gareth Jones Organizations: Resistance, Mideast DUBAI, ., Israeli National Security, U.S, Lebanese, United, United Arab Emirates, Zionist, Carnegie Middle East Center, Thomson Locations: Iran, Israel, Sanaa, Saudi, Saudi Arabia, Gaza, Egypt, America, United States, Iraq, Syria, Yemen, United Arab, Iranian, Qatar, SAUDI, Riyadh, Jordan, Tehran, Dubai, Beirut, Parisa, Jerusalem, Aden

In London, girls in a playground are told they are "stinking Jews" and should stay off the slide. In China, posts likening Jews to parasites, vampires or snakes proliferate on social media, attracting thousands of "likes". She was describing what was in the minds of those behind antisemitic incidents. The most chilling antisemitic incident globally was the storming of an airport in Russia's Dagestan region on Sunday by an enraged crowd looking for Jews to harm after a flight arrived from Tel Aviv. Rabbi Alexander Boroda, president of Russia's Federation of Jewish Communities, said in response that anti-Israeli sentiment had morphed into open aggression towards Russian Jews.

Persons: Anna Gordon, Anthony Adler, Adler, Nonna Mayer, France's, Israel, Mayer, Rabbi Alexander Boroda, Shneor Segal, Akiva Carr, Layli Foroudi, Julia Harte, Chen Lin, Maytaal Angel, Andrew Osborn, Carien du Plessis, Steven Grattan, Eliana, Wa Lone, Thomas Escritt, Stephanie Van Den Berg, Estelle Shirbon, Angus MacSwan Organizations: REUTERS, Russia's Federation of Jewish, Cornell University, Center for Jewish, Thomson Locations: Golders Green, London, Britain, Gaza, Los Angeles, China, Israel, United States, France, Germany, South Africa, Russia's Dagestan, Tel Aviv, Azerbaijan, Caucasus, Buenos Aires, New York, Johannesburg, Western Europe, Dagestan, Wa

☆ Oil rises ahead of key central bank meetings amid heightened Mideast tensions
▼ + stars: | 2023-10-31 | by ( ) www.cnbc.com time to read: +1 min

Oil prices rose in early Asian trade on Tuesday ahead of global central bank meetings and as tensions in the Middle East remained high. Israeli troops and tanks attacked Gaza's main northern city from the east and west on Monday, three days after it began ground operations in the Palestinian enclave. Traders were also keeping a close eye on global monetary policy, with rate-setting meetings of major central banks scheduled for this week. The U.S. Federal Reserve will meet on Wednesday and the Bank of England on Thursday to discuss monetary policy and decide on potential future inflation-busting interest rate hikes. Investors are also expecting Chinese purchasing managers index data and third quarter gross domestic products figures from Hong Kong and Taiwan.

Organizations: Brent, West Texas, Traders, Bank of Japan, Nikkei, U.S . Federal Reserve, Bank of England, Investors Locations: Gaza, Israel, Hong Kong, Taiwan

DUBAI, United Arab Emirates (AP) — Yemen's Houthi rebels for the first time Tuesday claimed missile and drone attacks targeting Israel, drawing their main sponsor Iran closer into the ongoing Israel-Hamas war in the Gaza Strip and further raising the risks of a regional conflict erupting. There also has been at least one attack that the Houthis claimed where suspicion later fell fully on Iran. In 2019, cruise missiles and drones successfully penetrated Saudi Arabia and struck the heart of its oil industry in Abqaiq. While the Houthis claimed the Abqaiq attack, the U.S., Saudi Arabia and analysts blamed Iran. Iran's mission to the U.N. did not immediately respond to a request for comment on the Houthi attacks.

Persons: Yemen's, Israel, Tuesday's salvos, Yahya Saree, “, ” Saree, Jack Jeffrey, Sam Magdy Organizations: United Arab Emirates, U.S . Navy, Arrow, Yemeni Armed Forces, Israel, Washington -, Strategic, International Studies, Navy's, Pentagon, Bloomberg, Hezbollah, United Nations, Associated Press Locations: DUBAI, United Arab, Israel, Iran, Gaza, Eilat, The, Sanaa, U.S, Taba, Palestine, Washington, Iranian, Bataan, Saudi Arabia, Jazan, Tehran, Abqaiq, Cairo

☆ Magnificent Seven are masking a rough market. Jim Cramer says these 3 stocks are buys
▼ + stars: | 2023-10-30 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

The "Magnificent Seven" mega-cap tech names that grab all the headlines and rule Wall Street with their outsized influence have been masking a pretty rough year for everything else. However, under the hood, the S & P 500 index that gives all its stocks the same power may be more reflective of these risks than some strategists are giving them credit for. We do take cues from the overall market on whether the market is overbought or oversold. Coming into Monday, our closely watched S & P 500 Short Range Oscillator continued to flash oversold. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Morgan Stanley, Mike Wilson, Wilson, Jim Cramer, Jim, there's, Jim Cramer's, Michael Nagle Organizations: Microsoft, Nvidia, Club, Apple, Broadcom, Honeywell, CNBC, Bloomberg, Getty Locations: Ukraine, AVGO

The most recent week saw sales of Brent (11 million barrels), NYMEX and ICE WTI (4 million) and U.S. diesel (4 million) only partially offset by purchases of U.S. gasoline (3 million) and European gas oil (1 million). Short positions in NYMEX WTI climbed to 41 million barrels on Oct. 24 up from a 16-month low of 19 million barrels on Oct. 3. U.S. NATURAL GASFund managers were still struggling to become outright bullish about the outlook for U.S. gas despite futures prices being very low in real terms. Hedge funds and other money managers sold the equivalent of 125 billion cubic feet (bcf) of gas futures and options over the seven days ending Oct. 24. From a statistical perspective, the very low inflation-adjusted base means there must be more potential for prices to rise rather than fall.

Persons: Brent, WTI, Cushing, NYMEX WTI, John Kemp, Kirsten Donovan Organizations: ICE Futures, U.S . Commodity Futures Trading Commission, ICE, U.S ., OPEC, Fund, Thomson, Reuters Locations: NYMEX, Brent

In addition, 239 hostages were taken from Israel into Gaza by the militant group. Security Council resolutions are legally binding. Violence has surged in the West Bank since the war between Israel and Gaza broke out on Oct. 7. The besieged Gaza Strip’s 2.3 million people don’t have access to clean, running water after Israel cut off water and electricity to the enclave. Israel said it has opened two water lines in southern Gaza within the past week.

Persons: Israel, Biden, OCHA, hunches Organizations: Health Ministry, West Bank, UN, GAZA, UNITED NATIONS, . Security Council, United, United Arab Emirates, The, General Assembly Locations: Gaza, Israel, Russia, israel, United Arab, The UAE, United States, China, Western Sahara, Colombia, JENIN CAIRO, Jenin, Egypt

WASHINGTON (AP) — The World Bank reported Monday that oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas intensifies, which could result in increased food prices worldwide. The World Bank report simulates three scenarios for the global oil supply in the event of a small, medium or large disruption. But during a “medium disruption” — equivalent to the disruptions experienced during the Iraq war — the global oil supply would decline by 3 million to 5 million barrels per day, driving oil prices up possibly by 35%. Ayhan Kose, the World Bank’s deputy chief economist, said higher oil prices will inevitably result in higher food prices. Overall, oil prices have risen about 6% since the start of the conflict.

Persons: Benjamin Netanyahu, Indermit Gill, ” Gill, Ayhan Kose, Kose, —, Janet Yellen, Biden, ”, Fatih Birol Organizations: WASHINGTON, World Bank, Hamas, Israel, Bank, Bloomberg, ” International Energy Agency Locations: Israel, Gaza, Iran, Lebanon, Iraq, Ukraine, U.S

It's one, he argues, where finally finding agreement on a long-sought two-state solution to the Israel-Palestinian conflict should be a priority. The White House says Biden conveyed the same message directly to Netanyahu during a telephone call this past week. “It also means that when this crisis is over, there has to be a vision of what comes next, and in our view it has to be a two-state solution,” Biden said. In an updated version of the Foreign Affairs essay posted online, Sullivan wrote that the administration was “committed to a two-state solution." One presidential hopeful, biotech entrepreneur Vivek Ramaswamy, said Israel should feel free to abandon “the myth of a two-state solution."

Persons: ” Biden, Biden, Netanyahu, —, It's, Jake Sullivan, Sullivan, “, Israel’s, Aaron David Miller, ”, “ It’s, Biden's, Vivek Ramaswamy, Dennis Ross, George H, Bush, Bill Clinton, Ross, it’s, John Kirby, Israel, Rami Nashashibi, ” Nashashibi, Republican Donald Trump, Democrat Hillary Clinton, he’s, Bernie, Michelle L, Price Organizations: Middle, West Bank, Authority, Democratic, Republican, Republican Jewish Coalition, White House, Hamas, Israel, White, National Security, Gaza, Ministry, Inner, Muslim Action Network, Democratic Party, Arab, Michigan Democratic Party, Michigan, Democrat, Associated Locations: Israel, American, Gaza, Las Vegas, Biden's Israel, United States, Palestinian, U.S, Chicago, Eastern, Michigan

☆ Thai policy rate is right for now, Mideast war is a concern - c.bank chief
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +2 min

The central bank's growth forecast of 4.4% for 2024 will be revised if there is any change in the government's stimulus plan, he added. Sethaput said the Bank of Thailand is concerned about the fallout from the conflict in the Middle East. "A new factor that I'm quite wary about is Middle East problems as evaluating the impact of this risk is very difficult," he said, but added that the current policy rate is appropriate. The rate has been raised by a total of 200 basis points since August last year to rein in elevated inflation. ($1 = 36.11 baht)Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Sethaput Suthiwartnarueput, Sethaput, Orathai Sriring, Kitiphong, Shri Navaratnam Organizations: Bank of, Bank, Thomson Locations: BANGKOK, Bank of Thailand, outflows

Mr. Biden has made repeated gestures of support to Muslims and Arab Americans: In an Oval Office address on Oct. 20, he denounced Islamophobia and the death of Wadea Al-Fayoume, a 6-year-old who was fatally stabbed in Illinois in what authorities have called a hate crime. “In 2020, the Muslim community was instrumental in turning out the vote for Joe Biden,” said Ms. Al-Hanooti, the Michigan executive director of Emgage, a national organization that seeks to strengthen the political power of Muslim Americans. Muslim voters turned out in significant numbers — 145,000 voted in the presidential election, according to Emgage. An exit poll commissioned by the Council on American-Islamic Relations found that roughly 69 percent of Muslims nationwide voted for Biden. Ms. Al-Hanooti said Muslims turned out in large numbers for Mr. Biden mainly because they were motivated to help defeat President Trump.

Persons: Mr, Biden, Wadea, ”, Ammar Moussa, Biden “, Biden’s, Benjamin Netanyahu, ” Nada, “, Joe Biden, ” Mr, Hanooti, Trump Organizations: Biden, Arab, Palestinian, Council, Islamic Relations Locations: Michigan, Wayne County, Hamtramck, Dearborn, Arab, Illinois, Israel, Palestinian American

☆ Oil set for first weekly drop in three as Mideast situation holds
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: +2 min

In an aerial view, oil storage tanks are shown at the Enterprise Sealy Station on August 28, 2023 in Sealy, Texas. Oil prices rose on Friday, regaining ground after tumbling more than $2 a barrel in the previous session as concerns of a wider Middle East conflict eased while the United States, the world's biggest oil consumer, showed signs of weakening demand. Both contracts are on track to post their first weekly drop in three weeks as the geopolitical premium built on fears that the Israel-Gaza conflict could involve more countries in the Middle East and disrupt oil supply has eased. Israeli forces carried out their biggest Gaza ground attack in their 20-day-old war with Hamas overnight, angering the Arab world. Prices could jump 20% in the less likely scenario of an interruption of trade through the Strait of Hormuz where 17% of global oil production transit, they said in a note.

Persons: Kelvin Yew, Benjamin Netanyahu, Helima Croft, Goldman Sachs, Brent Organizations: Enterprise, Brent, West Texas, Ocean, Investments, RBC Capital Locations: Sealy , Texas, United States, Israel, Gaza, Hormuz, Saudi Arabia, Russia

☆ We had a busy week of trades in an oversold market. Here's the day-by-day breakdown
▼ + stars: | 2023-10-27 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

Elevated bond yields and geopolitical uncertainty continued to be negative for stocks this week as the overall market moved into oversold territory. The closely followed S & P 500 Short Range Oscillator first flashed oversold Monday and went deeper and deeper into oversold territory as the week went along. ORCL YTD mountain Oracle YTD However, shares fell on worries that cash flows from AI workloads would be further out in the future. CTRA YTD mountain Coterra Energy YTD We bought 200 more shares of Coterra Energy (CTRA). META YTD mountain Meta Platforms YTD We also on Thursday decided to upgrade Meta Platforms (META) to our buy-equivalent 1 rating as the stock riding a two-day losing streak.

Persons: Jim Cramer, Jim Cramer's, Jim, Squawk, Virginia Sherwood Organizations: Treasury, Oracle, Constellation Brands, Constellation, Coterra Energy, Natural Resources, Exxon Mobil, CNBC Locations: oversold, Danaher

☆ Mideast in Focus as US, China Meet to Pave Way for Biden-Xi Summit
▼ + stars: | 2023-10-26 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +6 min

But whether Beijing will use it remains to be seen and experts say China may instead watch from the sidelines for a while longer. Blinken, during a whirlwind Middle East trip last week, spoke by phone to Wang and asked him to use Beijing's clout to ensure the conflict does not widen. On Wednesday, Xi said whether Washington and Beijing could establish the "right" way of getting along and managing their differences would be crucial to the world. U.S. and Chinese officials held a virtual meeting on Monday on macroeconomic developments, talks the U.S. called "productive and substantive" and China called "in-depth, frank and constructive." U.S. officials said Taiwan and the South and East China Seas, where they accused Beijing of "destabilizing and dangerous actions" against rival territorial claimants, would also be on the agenda.

Persons: Humeyra Pamuk, David Brunnstrom, Laurie Chen WASHINGTON, Wang Yi, Joe Biden, Xi, Biden, Antony Blinken, Wang, Jon Alterman, WANG, BIDEN Shi Yinhong, Shi, Israel, Zhang Jun, Wang's, Blinken, Jake Sullivan, Xi's, Yun Sun, Washington, Laurie Chen, Trevor Hunnicutt, Josie Kao Organizations: State Department, . Security, Washington's Center, Strategic, International Studies, Renmin University of China, Reuters, White, PATH, BIDEN, Asia Pacific Economic Cooperation, China, Washington's, APEC, East China Seas, China's Global Times Locations: BEIJING, Washington, China, Beijing, Iran, Israel, Taiwan, South, U.S, Gaza, Asia, San Francisco, Bali, China . U.S, East

Persons: Wang Yi, Joe Biden, Xi, Biden, Antony Blinken, Wang, Jon Alterman, WANG, BIDEN Shi Yinhong, Shi, Israel, Zhang Jun, Wang's, Blinken, Jake Sullivan, Xi's, Yun Sun, Washington, Humeyra Pamuk, David Brunnstrom, Laurie Chen, Trevor Hunnicutt, Josie Kao Organizations: State Department, . Security, Washington's Center, Strategic, International Studies, Renmin University of China, Reuters, White, PATH, BIDEN, Asia Pacific Economic Cooperation, China, Washington's, APEC, East China Seas, China's Global Times, Thomson Locations: WASHINGTON, BEIJING, Washington, China, Beijing, Iran, Israel, Taiwan, South, U.S, Gaza, Asia, San Francisco, Bali, China . U.S, East

☆ EU calls for humanitarian pauses for Gaza aid as Israel raids enclave
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +5 min

Israel's military, which has been carrying out limited raids into Gaza as it prepares for a ground incursion of the enclave, said early on Friday it was "currently conducting raids in the Gaza Strip as part of preparations for the next stage of the operation." Unlike in the Security Council where resolutions on Gaza aid failed this week, no country holds a veto in the General Assembly. Israel has bombarded the densely populated Gaza Strip following the Oct. 7 Hamas attack on Israeli communities. EU COMPROMISEIn Brussels, the 27 leaders of the EU reached a compromise declaration after days of wrangling, expressing the "gravest concern for the deteriorating humanitarian situation in Gaza". They called for "continued, rapid, safe and unhindered humanitarian access and aid to reach those in need through all necessary measures including humanitarian corridors and pauses for humanitarian needs".

Persons: Khan Younis, Abu Mustafa, Joe Biden, Iran's, U.N, Mamadou Sow, Israel, Washington, Biden, Ayatollah Ali Khamenei, Hossein Amirabdollahian, Yoav Gallant, Nidal al, Tala Ramadan, Emily Rose, Adam Makary, Jeff Mason, Phil Stewart, Michelle Nichols, Gabriela Baczynska, Andrew Gray, Grant McCool, Cynthia Osterman Organizations: United Nations, Hamas, REUTERS, Gaza Biden, Union, Reuters, General, Security, EU, International Committee, Cross, UNRWA, United, Pentagon, Iran's, U.S, Iranian, Thomson Locations: Israel, Palestinian, Gaza, Al, Rafah, Brussels, Jeddah, West, Tehran, U.S, Iraq, Syria, Iran, Lebanon, United States

In Europe, inflation peaked at a painful 10.6% in October for the 20 countries that use the euro currency as Russia's war in Ukraine took a toll. But with inflation now down to 4.3%, analysts expect the ECB to hold off on more hikes during its meeting in Athens. Political Cartoons View All 1218 ImagesSurveys of purchasing managers by S&P Global indicate that economic activity fell in October. Its biggest economy, Germany, is forecast by the International Monetary Fund to shrink by 0.5% this year, making it the world's worst performing major economy. “The ECB won’t be in any rush to take further action,” said Carsten Brzeski, global head of macro at ING bank.

Persons: hasn't, ”, Carsten Brzeski, Christine Lagarde, aren't Organizations: European Central Bank, ECB, U.S . Federal Reserve, Bank of England, European Union, ABN Amro, International Monetary Fund, IMF, “, ECB won’t, ING Locations: FRANKFURT, Germany, Israel, Europe, Ukraine, Athens, Frankfurt, Russia, East, Iran

For the international bankers, executives and officials who had gathered in the Saudi capital, Riyadh, to make deals, the war raging in Gaza and Israel felt like a distant backdrop. Instead, when speakers took the stage, they praised Prince Mohammed bin Salman’s plan to remake Saudi Arabia and focused on the future: artificial intelligence, longevity science, renewable energy. Israel has laid siege to the Gaza Strip and unleashed a fierce bombardment. That has prompted protests across the region, reinvigorating vocal Arab support for the Palestinian cause — including among many Saudi citizens. Yet Saudi officials have made it clear that they are determined to prevent all of that from casting a pall over Prince Mohammed’s plans for the kingdom, which include reshaping the economy to reduce dependence on oil and turning the country into a global hub for business and tourism.

Persons: —, Prince Mohammed bin Salman’s, ”, Yasir al, Prince Mohammed’s Organizations: Future Investment, Hamas, Gaza, Saudi Locations: Saudi, Riyadh, Gaza, Israel, Saudi Arabia, East

☆ Opinion: A path to peace in Middle East is possible. Here’s how
▼ + stars: | 2023-10-25 | by ( Opinion Miriam Sapiro | ) edition.cnn.com time to read: +9 min

She has served at the National Security Council, at the State Department as a negotiator for the Bosnia Peace Accords, and as Deputy US Trade Representative. A similarly firm hand — and robust US leadership — will also be necessary for any peace deal to be forged in the Middle East. Similarly, Hamas’ current leadership would certainly not be welcome at the table should Mideast peace talks resume. That should compel them to help increase isolation of Hamas as well as play an active and useful role in future peace talks. With the key players thinking strategically and acting tactically — as eventually happened in Bosnia — peace in the Middle East may have a chance.

Persons: Miriam Sapiro, Miriam Sapiro Sard, Biden’s, Bosnians, —, ’, Madeleine Albright, Israel, Benjamin Netanyahu’s Organizations: Center for Strategic, International Studies, National Security Council, State Department, Accords, US Trade Representative, CNN CNN, Hamas, US, UN, Bosnian, Bosnian Serbs, —, Belgrade, West Bank, Bosnia Contact, EU, United Arab, CNN, Twitter, Palestinian, European Union, Bank, Authority Locations: Bosnia, Israel, Balkans, Yugoslavia, Bosnian, Washington, Dayton , Ohio, — Serbia, Croatia, Dayton, Gaza, Saudi Arabia, United States, Egypt, Jordan, United Arab Emirates, Bahrain, Qatar, America, Iran, Oslo Accords, Ramallah

But a couple of the world’s largest oil companies beg to differ – or at least for the future that extends out about three decades. This month, Exxon Mobil and Chevron have together bet heavily on a future their CEOs think will still need a lot of black gold. Hess also has considerable oil and gas assets in the U.S., including the Bakken area of western North Dakota, eastern Montana and southern Saskatchewan in Canada. But equally critical, the moves are important statements that the age of oil remains, despite the release on Tuesday of the annual world energy outlook from the International Energy Agency that forecasts global demand for fossil fuels will peak in 2030. Although he has championed many green energy policies, President Joe Biden also has done little to block the advancement of domestic oil and gas production.

Persons: Hess, ” Chevron, “ Hess, ”, Dan Pickering, we’re, it’s, ’ –, Fatih Birol, Mike Wirth, “, Pickering, Joe Biden Organizations: White, Exxon Mobil, Chevron, Natural Resources, Republican Party, “ Investors, Pickering Energy Partners, Hamas, International Energy Agency, Financial Times, French, U.S . Energy, Administration, Republicans Locations: Brussels, Chevron, U.S, Guyana, North Dakota, Montana, Saskatchewan, Canada, Texas, New Mexico, Saudi Arabia, Russia, Israel, Iran, Europe

Biden administration officials, worried that a growing conflict in the Middle East could send global oil prices soaring, are looking for ways to hold down American gasoline prices if such a jump occurs. President Biden tapped the reserve aggressively last year after Russia’s invasion of Ukraine sent oil prices skyrocketing, leaving the amount of oil in those reserves at historically low levels. The conflict in the Middle East has not yet sent oil prices surging. Administration officials are wary of the possibility that prices could again jump above $5 a gallon, a level they briefly touched in the spring of 2022. “In some ways, they’ve missed the boat.”

Persons: Biden, That’s, Mr, ”, Amrita Sen, Sen, “, they’ve Organizations: Biden, nation’s Strategic Petroleum Reserve, AAA Locations: Saudi Arabia, Gulf of Mexico, Ukraine, Israel, Iran

☆ Elite Universities Face Donor Revolt Over Mideast Conflict
▼ + stars: | 2023-10-24 | by ( Rachel Louise Ensign | Juliet Chung | ) www.wsj.com time to read: 1 min

David Magerman was in Israel celebrating a holiday by dancing with a Torah in synagogue when Hamas attacked the country earlier this month. When his alma mater, the University of Pennsylvania, put out a statement a few days later that called the assault “horrific” but didn’t explicitly condemn Hamas, he was incensed. Magerman, a hedge-fund veteran turned venture capitalist who has donated millions to the school, has since cut his ties with Penn. “I was just pushed over the edge by the equivocation of the response,” he said.

Persons: David Magerman, didn’t, Magerman, “, ” Organizations: University of Pennsylvania, Penn Locations: Israel

Without directly referencing the devastation of the Israel-Hamas war, the first lady announced Tuesday that "we’ve made a few adjustments to the entertainment portion” of the dinner. Albanese is the fourth world leader to be honored with a state visit during Biden's term, after the leaders of France, South Korea and India. Hundreds of lawmakers, business titans and celebrities are typically invited to state dinners, but the White House keeps the guest list secret until just before people start arriving for the black-tie affair. The dinner program, including an exchange of toasts, will unfold in a temporary pavilion being built on the White House lawn. The White House said postponing was not an option, casting Albanese's visit as part of the important diplomatic balancing act that a president must undertake with U.S. allies worldwide.

Persons: Jill Biden, we’ve, Anthony Albanese, Katie Button, Joe Biden, Albanese, Biden, Karine Jean, Pierre, “, John Kirby, ” Albanese, Jodie Haydon Organizations: WASHINGTON, White House, Army and Air Force, Australian, House, Washington, Republican, White, Press, Biden, National Security Council Locations: Israel, Asheville , North Carolina, Australia, France, South Korea, India, Washington, United States

“Today we are again facing a crisis in the Middle East that could once again shock oil markets," said IEA Executive Director Fatih Birol. That comes on top of the stress on energy markets from Russia's cutoff of natural gas to Europe over its invasion of Ukraine, he said. Political Cartoons View All 1215 ImagesFossil fuel prices are down from 2022 peaks, but “markets are tense and volatile," said the IEA in the report. “Some of the immediate pressures from the global energy crisis have eased, but energy markets, geopolitics, and the global economy are unsettled and the risk of further disruption is ever present,” it said. “We have solar, wind, nuclear power, electric cars.

Persons: Fatih Birol, “, ” Birol, Birol, ” Organizations: International Energy Agency, Associated Press, Hamas, Israel, Nations, IEA, AP Locations: FRANKFURT, Germany, Gaza, Europe, Ukraine, Israel, China

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