Important Takeaways:
- Oil prices could reach ‘uncharted waters’ if the Israel-Hamas war escalates, the World Bank says
- The World Bank reported on 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’s Commodity Markets Outlook found that while the effects on oil prices should be limited if the conflict doesn’t widen, the outlook “would darken quickly if the conflict were to escalate.”
- And the threat of escalation looms. Israeli tanks and infantry pushed into Gaza over the weekend as Israeli Prime Minister Benjamin Netanyahu announced a “second stage” in the war. Hamas officials have called for more regional assistance from allies, including Iran-backed Hezbollah in Lebanon.
- The World Bank report simulates three scenarios for the global oil supply in the event of a small, medium or large disruption.
- Effects should be limited if the conflict doesn’t widen in a “small disruption” scenario — as oil prices are expected to decline from current levels of roughly $90 a barrel to an average of $81 a barrel next year, the World Bank estimates.
- But during a “medium disruption” — equivalent to the disruptions experienced during the Iraq war — the global oil supply of about 100 million barrels a day would decline by 3 million to 5 million barrels per day, driving oil prices up possibly by 35%.
- In a “large disruption” scenario — comparable to the Arab oil embargo of 1973 — the global oil supply would shrink by 6 million to 8 million barrels per day and prices could go up by 56% to 75%, or to $140 to $157 a barrel, according to the report.
- Indermit Gill, the World Bank’s chief economist, said Russia’s invasion of Ukraine has already had disruptive effects on the global economy “that persist to this day.”
- “If the conflict were to escalate, the global economy would face a dual energy shock for the first time in decades — not just from the war in Ukraine but also from the Middle East,” Gill said.
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Important Takeaways:
- Europe Facing Civil War?
- In Vienna, London, Paris, Berlin, Brussels and dozens of other European cities, demonstrations “in support of Palestine” were organized even before the Israelis responded the jihadist pogrom perpetrated by Iran-backed Hamas on October 7, while the corpses of more than 1,400 Israeli victims — tortured, raped, murdered and mutilated, babies decapitated or burned alive — were still warm. According to a JNS report:
- “[T]he IDF on Monday [Oct 23] published two segments from the interrogation of Hamas terrorists who participated in the massacre.
- “‘The purpose of entering Israeli territory… was to kidnap civilians; they want as many hostages as possible,’ one of the terrorists revealed. He added, ‘They [Hamas] promised us that whoever brings a kidnapped person will receive an apartment and $10,000.'”
- All the same, each and every one of these demonstrations in Europe was the scene of hate-filled slogans against Israel and Jews.
- In Brussels, those slogans were shouted, and the atmosphere of violence and blood-lust was everywhere.
- Former US Secretary of State Henry Kissinger explained in an interview recently that Europe had made a serious mistake by creating within itself, through mass immigration, populations that reject all its norms, values and a “constitutional basis”.
- Already in 2015, Jeffrey Goldberg warned in The Atlantic: “In 2014, Jews in Europe were murdered, raped, beaten, stalked, chased harassed, spat on and chased for being Jewish.”
- Finally, Europeans will have to do the unthinkable: actually apply their laws. If anyone — Muslim or non-Muslim — wants to celebrate the jihadist pogroms against Jews, well, they can go and rejoice in Iran or Qatar. Not in Europe.
- Every “Death to the Jews” or “Death to Israel” uttered in Europe, particularly after babies tortured, burned alive and beheaded, women raped and more than 200 Israelis dragged back to Gaza as hostages on October 7, is an insult not only to Jews, but to us, what we are, our laws, our democracies and the will of the people
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Important Takeaways:
- Iranian Foreign Minister Arrives in New York, Praises Hamas as Legitimate ‘Resistance Group’
- Iranian Foreign Minister Hossein Amirabdollahian arrived in New York on Thursday to attend a session of the U.N. General Assembly.
- Amirabdollahian praised the terrorists of Hamas as a lawful and legitimate “resistance group” to reporters and delivered a belligerent speech to the U.N., threatening dire consequences for the United States and Israel if the Israelis continue their assault on Hamas in Gaza.
- Amirabdollahian told reporters outside U.N. headquarters that Hamas has the right under “international law” to perpetrate whatever atrocities it desires because it is a “liberation movement” whose territory has been “occupied” by Israel.
- “Therefore, whatever concerning the action of the resistance groups and Palestinian liberation groups in confronting the occupation is completely rooted in international law and the United Nations Charter,” he said.
- Amirabdollahian went on to deliver a menacing address to the U.N. in which he said the United States will suffer if Israel continues its operation in Gaza.
- “I say frankly to the American statesmen, who are now managing the genocide in Palestine, that we do not welcome expansion of the war in the region. But if the genocide in Gaza continues, they will not be spared from this fire,” he declared.
- Amirabdollahian claimed the Hamas terrorists told their patrons in Iran they are ready to release some of the 220-plus hostages they kidnapped on October 7 – but the Iranian foreign minister said they should hold out until the world community presses for Israel to release 6,000 Palestinian prisoners in exchange.
- Amirabdollahian will reportedly meet with U.N. Secretary-General Antonio Guterres before the U.N. General Assembly votes Friday on a resolution to demand a ceasefire in Gaza.
- Guterres himself is under fire for comments on Wednesday that suggested the Hamas sneak attack was justified by Palestinian grievances against Israel
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Important Takeaways:
- Israel war: NYC school union head justifies Hamas attack in ‘private’ email to teachers
- The union chapter leader for a New York City school is under fire from teachers and members of Congress for sending an email to colleagues alleging “illegal Israeli colonialist occupation” is what “led to” the deadly Hamas terrorist attacks against the Jewish state.
- “It pains me to see the NYC Schools Chancellor and UFT making recent public statements denouncing Oct 7th’s actions of Palestinian militants, but not the last 75 years of genocidal, illegal Israeli colonialist occupation, which created the horrific, inhumane conditions that led to last weekend’s kidnappings and Hamas’ incursions,” Cheng wrote in the email, calling for the union’s teachers’ retirement system to “divest from weapons and other companies that are complicit in violations of Palestinians’ civil and land rights.”
- “Last weekend’s events didn’t start this conflict,” Cheng continued. “The conflict started long ago, in 1917 and in 1948, when Palestinian homes were taken by force. Every year, $3,800,000,000 U.S. taxpayer dollars goes to fund an illegal occupation and settler colonialist state. Until the U.S. stops its support for Israel, unless the U.N. develops greater enforcement powers, and unless we as peace-loving people begin to have honest conversations with each other about anti-Arab Zionist colonialism, innocent Palestinian men, women, children, and elders will continue to be displaced, evicted, and erased from the map. Literally.”
- The email, which totals roughly 700 words, underscores how teachers, as well as K-12 schools and universities, have expressed sympathy for Hamas on the heels of its unprecedented attack
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Important Takeaways:
- Massive rocket barrage on Tel Aviv leaves over a million Israelis scrambling for shelter
- Hamas launched a massive rocket barrage on Tuesday afternoon, injuring at least five Israelis, emergency services said.
- Israelis were wounded in separate incidents in Holon, Tel Aviv, Kfar Saba, Be’er Yaakov, and Yavne while the barrage sent more than one million running for cover. All of the wounded were said to be lightly injured.
- Magen David Adom – Israel’s National Blood and Medical Emergency Service – said it is investigating after an attack believed to be the largest since war was declared on Hamas.
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Important Takeaways:
- China deploys six warships to Middle East over fears Israel crisis could spark WW3
- China has deployed six warships to the Middle East as the conflict between Israel and Hamas escalates, according to reports.
- The 44th naval escort task force – from the People’s Liberation Army (PLA) Eastern Theatre – has been involved in routine operations in the region and spent several days in Oman last week.
- The Chinese warships left Muscat for an unspecified location on Saturday after participating in an exercise with the Omani navy.
- The task force includes the Zibo, a guided missile destroyer, the frigate Jingzhou, and the supply ship Qiandaohu – all of which will be stationed in the Middle East as Israel prepares for a ground invasion of Gaza.
- Chinese leader Xi Jinping said on Thursday that a two-state solution to establish an independent Palestine is the “fundamental way out” of the Israel-Hamas war.
- According to China’s state broadcaster CCTV, Xi said: “The top priority now is a ceasefire as soon as possible, to avoid the conflict from expanding or even spiraling out of control and causing a serious humanitarian crisis.”
- China’s deployment comes after the US sent a powerful arsenal to the Middle East earlier this week.
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Important Takeaways:
- Hamas and Israeli troops clash in Gaza as airstrikes intensify
- Hamas fighters and Israeli forces engaged in limited clashes inside Gaza on Sunday as the Israeli military ramped up airstrikes on the Palestinian enclave ahead of what its spokesperson described as the “next stage” of its war on the militant group.
- Hamas claimed its fighters had destroyed two Israeli military bulldozers and a tank in an ambush near the Gazan city of Khan Younis, forcing Israeli troops to retreat without their vehicles. The Israel Defense Forces confirmed its forces had been operating inside Gaza during the incident, and said an IDF tank struck militants who had fired on its troops.
- The episode appeared to be one of the first skirmishes between the two sides on the ground inside the strip since war broke out
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Important Takeaways:
- Crisis, What Crisis? Biden Enjoys Breezy Beach Walk as Middle East Explodes
- President Joe Biden has been seen in pictures and videos enjoying a weekend of walks on Rehoboth Beach, Delaware, as Hamas terrorists pushed their campaign of destruction against Israel and the U.S. placed additional troops on prepare-to-deploy orders to the Middle East.
- One short clip shows the octogenarian and first lady Jill Biden strolling the Atlantic beachfront on Sunday while a reporter off screen asks him about the release of Americans being held hostage by Hamas terrorists.
- Biden cheerily waves towards the reporter but does not stop to answer questions before continuing his jocund seaside perambulation.
- “Americans are still being held hostage by Hamas terrorists—and Joe Biden is at the beach,” the RNC Research group posted on X, formerly Twitter, in recording the exchange.
- Earlier in the day Defense Secretary Lloyd Austin placed additional U.S. troops on prepare-to-deploy orders to the Middle East, as Breitbart News reported.
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Important Takeaways:
- Israel At War: Day 17: 1,400+ Israelis Killed; IDF Increases Strikes Preparing For ‘Next Phase Of War’
- Over 1,400 Israelis (306 soldiers) have been killed, and over 5,400 have been injured.
- The IDF has notified families of 222 being held hostage in Gaza.
- Over 7,000 Rockets have been fired by Hamas toward Southern and Central Israel from Gaza (approximately 550 failed launches inside Gaza), with Lebanon and Syria also firing from the north.
- One day after the 50th anniversary of the Yom Kippur War, on Oct. 7th, thousands of Hamas gunmen Invaded southern Israel, kidnapping, raping, torturing, and killing Israelis, specifically targeting women, children, and the elderly.
- On Oct. 8th, the Israel Security Cabinet voted to officially declare war for the first time since the 1973 Yom Kippur War.
- In an interview with Sky News, Israeli President Isaac Herzog revealed that information was found on Hamas terrorists via USB, which provided detailed instructions on the manufacturing of chemical weapons.
- The USB contained official material from Al Qaeda, according to the President. Adding that, it shows Israel is simultaneously “dealing with ISIS, Al Qaeda, and Hamas.”
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Important Takeaways:
- U.N. Issues ‘Urgent’ Call for $294 Million to Fund Gaza Strip Aid
- The United Nations on Thursday rushed to issue an emergency appeal for $294 million to address “the most urgent needs” in the Gaza Strip as Israel fights for its very life against Hamas terrorists who call the region home.
- AFP reports the funds would be used to help more than 1.2 million people, the U.N. Office for the Coordination of Humanitarian Affairs (OCHA) said.
- There is no word yet on whether the U.N. will issue a similar call for funds to aid displaced Israelis or restore services destroyed by Hamas terrorist forces and rocket attacks.
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