Showing posts from October 8, 2023

Oil prices and conflict in the Middle East: volatility eases, but gas prices are up

  Gaza conflict and and oil and gas prices As the war between Israel and Hamas enters the sixth day, the oil markets appear to have found the stability with the volatility that we witnessed at the outset being on the wane. As of 10:50 GMT, the prices of WTI, Brent and LNG, liquified natural gas, were at $84.29, $86.89 and $3.34 respectively. Although there was a false alarm over the prospect of opening a second front on Israel's northern border against Hezbollah, the Lebanese militant group, the situation in that particular region remains tense. Israel admitted the accumulation of red alerts on its monitoring screen was due to a human or technical error. The technical glitch: arrival of drones from Lebanon - credit: The Times of Israel Military analysts, meanwhile,  believe the arrival of the flotilla of US warships, including the world's largest ship of that kind, Gerald R Ford - a military city rather than a ship - closer to the northern border may deter the involvement of ot

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