Source: Bloomberg
Security & Justice
Panic Grips Lebanon Amid Evacuation Call Hoax: Who’s Behind the Fear Campaign?
Lebanon witnessed a wave of panic on Friday as residents across various regions received alarming phone calls from foreign numbers warning of imminent Israeli strikes and urging them to evacuate their homes. These warnings, which extended even to areas far from conflict zones, have raised questions about the credibility of the messages and concerns over potential Israeli access to Lebanon's telecommunications infrastructure.
Sunday, November 24, 2024
With Destruction at Lebanon Border, Israel Could Seek Buffer Zone
Israel appears to be trying to create a buffer zone in south Lebanon to remove the threat from Hezbollah but its effectiveness in preventing cross-border attacks remains to be seen, observers say.
Saturday, November 23, 2024
Opinion
Power Vacuum Enables Speaker Berri’s Unchecked Negotiation Role
Ceasefire negotiations between Hezbollah and Israel, spearheaded by Lebanese Parliament Speaker Nabih Berri, have ignited a storm of controversy among political circles, with critics accusing Berri of overstepping constitutional bounds.
Thursday, November 21, 2024
Lebanon's Economy—Not Battlefield—May Have the Final Word
Time and again during this most recent war in Lebanon, we hear the phrase, “The battlefield has the final word”. It has become the sole and wholly unsatisfactory refrain of Hezbollah and the so-called 'Axis of Resistance'.
Wednesday, November 20, 2024
Sports
Israel Face France in Paris Football Match Under Tight Security
Israel face France in a Nations League football match in Paris on Thursday surrounded by a huge security operation to prevent a repetition of the attacks on Israeli fans in Amsterdam last week.
Thursday, November 14, 2024
Alcaraz Beats Rublev to Open ATP Finals Account
Carlos Alcaraz opened his account at the ATP Finals on Wednesday with an entertaining 6-3, 7-6 (10/8) win over Andrey Rublev which boosted his hopes of reaching the semifinals.
Wednesday, November 13, 2024
Monday 26 August 2024 11:37:21
Oil Rises as Israeli Strikes on Lebanon Ratchet Tensions Higher
Oil advanced after an Israeli strike on Hezbollah targets in southern Lebanon raised tensions in the Middle East.
Global benchmark Brent rose toward $80 a barrel, while West Texas Intermediate climbed past $75. Israel sent more than 100 warplanes to take out thousands of Hezbollah missile launchers on Sunday, after which the militant group responded by firing more than 200 projectiles that did limited damage, according to Israeli officials.
Hezbollah, which is backed by Iran and designated a terrorist organization by the US, said it had concluded its military operation for the day, but that it will continue hostilities with Israel until the country agrees to a cease-fire in Gaza.
Oil is now marginally higher for the year, aided by the geopolitical risks, and a likely US interest-rate cut next month. Federal Reserve Chair Jerome Powell gave his most decisive signal yet that his inflation-fighting mission has been accomplished at his speech in Jackson Hole, Wyoming, on Friday, saying that “the time has come for policy to adjust.” The address cemented expectations for a rate cut next month.
In a sign of relative calm after the exchanges of fire, negotiations in Cairo aimed at establishing a pause in the fighting between Israel and the Palestinian militia Hamas commenced as planned on Sunday. Israel also relaxed safety restrictions on its population on Sunday night, after earlier imposing a state of emergency and shutting its main airport for several hours.
Oil fundamentals have been relatively unperturbed by the flare-up in the Middle East, which provides about a third of the world’s crude. Volatility has remained below a peak at the start of the month, and options skews are still showing a bias toward puts — which profit from lower prices.
“While risks in the Middle East are building following the latest escalation, the market is becoming increasingly immune to these tensions,” said Warren Patterson, head of commodities strategy at ING Groep NV. “It has been going on for almost a year now and is yet to have an impact on oil supply.”