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The Latest Breaking News from Middle East

Why oil prices are rising amid the Israel-Hamas war

To date oil and gas flows from the Middle East remain fairly unaffected – but there are concerns about escalation

The Guardian - UK

In Israel-Hamas war, there’s growing talk of a potential impact on oil prices

Human life and destruction are top concerns. But a possible rise in oil prices could affect world economics and politics, especially the re-election prospects of President Joe Biden.

Chicago Sun-Times

Stock Index Futures Drop as Investors Weigh Powell’s Remarks, Geopolitical Risks

December S&P 500 futures (ESZ23) are down -0.25%, and December Nasdaq 100 E-Mini futures (NQZ23) are down -0.32% this morning as investors digested Federal Reserve Chair Jerome Powell’s remarks while heightened geopolitical risks stemming from the Middle East continued to weigh on sentiment.

Barchart

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Rishi Sunak steps up diplomatic campaign to avoid wider Middle East war

The Prime Minister will meet regional leaders in Egypt on Friday as he seeks to prevent the Israel-Hamas conflict escalating.

The Independent UK

Aust shares drop again as yields rise, tensions soar

The local share market lost 1.2 per cent on the day and 2.1 per cent for the week on rising US bond yields and broader fighting in the Middle East.

AAP

Sunak in push to avoid Israel-Hamas conflict leading to wider Middle East war

Prime Minister Rishi Sunak encouraged Saudi Arabia to use its influence in the region to support stability.

The Independent UK

Morning Mail: Labor fast-tracks anti-racism strategy, renewables need ‘drastic’ boost, Gaza ground invasion fears

Government ‘very concerned’ by polarising referendum and Middle East tensions, and centre-right thinktank wrongfoots Coalition on energy

The Guardian - AU

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Crude Rises as Middle Eastern Geopolitical Risks Outweigh Venezuelan Oil Exports

November WTI crude oil (CLX23 ) on Thursday closed up +1.05 (+1.19%), and Nov RBOB gasoline (RBX23 ) closed up +0.82 (+0.35%). Nov WTI crude oil and gasoline prices on Thursday settled moderately higher, with gasoline posting a 2-week high. A weaker dollar Thursday was supportive of energy prices. Crude...

Barchart

Sunak pleads for Middle East stability as Israel wages ‘long war’ with Hamas

Rishi Sunak said he wanted Israel to win its war with the Gaza-based group but called for regional powers to avoid the conflict spilling over.

The Independent UK

Sunak arrives in Saudi Arabia after Israel tells UK to brace for ‘long war’

He is set to meet with Saudi leader, Crown Prince Mohammed bin Salman, during the second stop on his Middle East tour.

The Independent UK

Crude Slightly Higher on Geopolitical Risks in the Middle East

November WTI crude oil (CLX23 ) this morning is up +0.08 (+0.09%), and Nov RBOB gasoline (RBX23 ) is up +0.55 (+0.23%). Nov WTI crude oil and gasoline prices this morning are slightly higher, with gasoline posting a 2-week high. A weaker dollar today is supportive of energy prices. Crude...

Barchart

Lots of U.S. presidents have pushed for Middle East peace. Progress has been elusive

President Biden is the latest in a long line of presidents to place himself in the middle of a Middle East conflict. U.S. efforts have seen failed starts, wrong turns and dead ends, but some progress.

WEKU

U.S. Stocks Slip On Uncertainty Over Rates And Inflation

Mixed earnings, Middle East tensions, and House Speaker election stalemate add to market challenges.

Zenger

PM arrives in Israel to ‘express solidarity’ over October 7 Hamas attacks

In a meeting with President Isaac Herzog, Rishi Sunak said he has ‘not just a right’ but a ‘duty’ to restore security to the country.

The Independent UK

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The Guardian - UK

UK’s FTSE 250 index hits one-year low; crypto firms Gemini, Genesis and DCG sued – business live

Three crypto groups are being sued by New York for allegedly defrauding investors of $1.1bn, while financial markets remain on edge

The Independent UK

‘We back your right to go after Hamas – we want you to win’ Sunak tells Israel

‘We want you to win’: PM tells Israeli leaders they have ‘right and duty’ to respond with military action

The Independent UK

Sunak starts two-day Middle East trip in Israel as he calls for calm

The Prime Minister will urge leaders in the region to ‘avoid further dangerous escalation’ of the Israeli-Hamas war.

Barchart

Crude Gains as Middle East Tensions Ratchet Higher

November WTI crude oil (CLX23 ) on Wednesday closed up +1.66 (+1.92%), and Nov RBOB gasoline (RBX23 ) closed up +6.90 (+3.02%). Nov WTI crude oil and gasoline prices on Wednesday rallied to 2-week highs and settled moderately higher. Crude oil prices were underpinned by concern about an escalation of...

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The Guardian - UK

Joe Biden’s peace mission to Israel exposed the limits of US global influence

The stakes couldn’t be higher. A wider war in the Middle East could embolden Russia in Ukraine and encourage China over Taiwan, says Guardian columnist Martin Kettle

Barchart

Crude Climbs as Middle East Tensions Simmer

November WTI crude oil (CLX23) this morning is up +1.27 (+1.47%), and Nov RBOB gasoline (RBX23) is up +4.61 (+2.02%). Nov WTI crude oil and gasoline prices this morning rallied to 2-week highs and are moderately higher. Concerns about an escalation of the Israeli-Hamas conflict that could disrupt Middle East...

InsideEVs

Tesla Model Y’s Most Expensive Paint Option Is Now Cheaper Than Ever

In the latest price update that nobody bothered to officially announce, Tesla made its most expensive paint option – Midnight Cherry Red – a bit more affordable for customers in Europe and the Middle East.

Barchart

S&P Futures Plunge as Middle East Fears Weigh on Sentiment, Tesla and Netflix Earnings on Tap

December S&P 500 futures (ESZ23) are trending down -0.45% this morning as uncertainties lingered in the Middle East, and investors weighed the possibility of further rate hikes by the Federal Reserve while eagerly awaiting earnings results from U.S. heavyweights Tesla and Netflix.

The Conversation

Politics with Michelle Grattan: Kim Beazley on Albanese's US trip, Biden in the Middle East, and the Voice's defeat

The prime minister heads to Washington next week for a state visit. Talks between Anthony Albanese and President Joe Biden will canvass progress on implementing the AUKUS agreement, Ukraine, China and the situation in the Asia-Pacific region, and of course the Middle East crisis. Biden will have just returned from…

The Guardian - AU

Afternoon Update: global outrage at Gaza hospital blast; huge Mt Isa mines to close; and Kathryn Campbell’s big pay package

Protests erupt across Middle East after hospital blast kills between 300 and 500 people

The Guardian - AU

Egypt’s president agrees to open the Rafah crossing – as it happened

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