Crude oil began trade this week with a loss after Israel said it was done with bombing southern Gaza for the time being, suggesting a decline in supply disruption risk. Both Brent crude and West Texas Intermediate were modestly down after trade opened in Asia, with the decline possibly moderated by news of another Houthi …
Continue reading “Oil Prices Start the Week Lower on Hopes of a Diplomatic Solution in Gaza”
United States Ambassador to Yemen Steven Fagin said in a post on social media on Friday that the time for Yemen’s Houthi rebels is ticking before Washington’s “terrorist group” classification comes into force. “The designation of the Houthis as a terrorist group will take effect on February 16, but it can be reviewed if the …
Continue reading “US envoy: Houthis have until Feb. 16 to stop Red Sea attacks”
United States President Joe Biden issued a memorandum on Friday requiring US allies who receive military aid from the country to provide assurances of their adherence to international law amid criticism regarding the US’s support for Israel. The memorandum established that the Secretary of State and Secretary of Defense are required to obtain “credible and …
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The US national security spokesperson has warned Israel against conducting an offensive against Rafah, the last refuge of Palestinians fleeing the Israeli army’s assault on Gaza. John Kirby said the US would not support an attack on the southern town. He added that the secretary of state, Antony Blinken, had expressed his concern to Israeli …
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United States President Joe Biden expressed his view that Israel’s actions in Gaza in response to Hamas’ October 7 attacks have been “over the top.” “The conduct of the response in the Gaza Strip has been over the top…I’m pushing very hard now to deal with this hostage ceasefire because, as you know, I’ve been …
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The European Union member states are said to have agreed on the details of the Aspides operation aimed at ensuring the security of commercial shipping in the Red Sea, German news agency DPA reported on Thursday. The launch of the military operation is expected to be officially confirmed during the bloc’s foreign minister’s meeting in …
The United States Central Command confirmed on Wednesday that its forces carried out a “unilateral strike” in Iraq which killed a Kataib Hezbollah commander as a response to the attack that took the lives of three American service members in Jordan last month. The commander is said to be “responsible for directly planning” and “participating” …
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United States Secretary of State Antony Blinken met on Wednesday with Israeli Prime Minister Benjamin Netanyahu and again voiced Washington’s support for the establishment of a Palestinian state, according to a statement by State Department spokesperson Matthew Miller. During his visit to Israel, Blinken remarked that the two-state solution to the Israeli-Palestinian conflict is “the …
Continue reading “Blinken pushes for Palestinian state in meeting with Netanyahu”
Rumors and speculation appear to be driving oil markets this week, adding to volatility as the world awaits a potential ceasefire agreement between Israel and Hamas. Speculation has overshadowed market fundamentals this week, with unsubstantiated reports of an impending ceasefire between Israel and Palestine dragging Brent futures below $80 per barrel again. On the fundamental …
Continue reading “Uncertainty in Oil Markets as Speculation Overshadows Fundamentals”
The United States Central Command (CENTCOM) confirmed on Friday that the country’s forces conducted a series of strikes targeting Iran’s Islamic Revolutionary Guards Corps (IRGC) Quds Force and “affiliated militia groups.” CENTCOM noted that American forces conducted the strikes with “numerous aircraft,” employing 125 precision munitions, and struck over 85 targets. “The facilities that were …
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