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(Zero Hedge)—Israeli Prime Minister Benjamin Netanyahu addressed the UN General Assembly in New York this week, stating that Israel has “no choice” but to fight back against Iran-backed Hezbollah. His remarks come as tensions rise between Israeli officials and the Biden-Harris administration over the inaction this week of instituting a 21-day ceasefire-fire while Israel Defense Forces gear up for a potential ground invasion of Lebanon.
“As long as Hezbollah chooses the path of war, Israel has no choice, and Israel has every right, to remove this threat and return our citizens to their homes safely,” Netanyahu told the General Assembly, adding, “And that’s exactly what we’re doing.”
During his speech, Netanyahu showed world leaders two maps of the Middle East, pointing out the difference between a “blessing” and a “curse.”
“Now look at this second map,” he said, pointing out, “It’s a map of a curse. It’s a map of an arc of terror that Iran has created and imposed from the Indian Ocean to the Mediterranean.”
Netanyahu added: “There is no place in Iran that the long arm of Israel cannot reach – that’s true for the whole of the Middle East.”
Even with broadening war risks in the Middle East, the geopolitical risk premium in Brent crude has all but evaporated – overshadowed by economic slowdown fear in China and the US. Not even the China stimulus story earlier this week could ignite crude prices.
On Thursday, we noted the usual anonymous sources reporting by corporate media were back, and pressured Brent crude prices lower. The first report was published by Reuters earlier this month. In that report, journos cited anonymous sources that said OPEC+ was set to proceed with a production hike in October. Then an FT report on Thursday joined the anonymous-source-citing oil manipulation game with the news that the Saudis were ready to ditch the unofficial price target of $100 a barrel for crude.
Also, recent headlines surrounding a possible ceasefire in the Middle East have pressured oil prices. We must ask what exactly ‘the powers that be’ are afraid of?
Maybe Goldman analyst Lindsay Matcham’s note to clients this morning shows precisely what ‘the powers that be’ are afraid of…
“We’re continuing to keep a close eye on the conflict in the Middle East amid intensifying tensions between Hezbollah and Israel.”
Matcham added:
“We think further escalation in the conflict could have material market implications, especially if it involves a potential closure of the Strait of Hormuz, which would likely lead to a spike in oil prices here.”
Strait of Hormuz…
In a separate note, Goldman analyst Lina Thomas outlines four positive near-term drivers for crude markets:
- The easing in global policy.
- Inventories are still drawing.
- Positioning and valuation remain low.
- Oil markets are not pricing a significant risk of geopolitical disruptions.
Fast forward to noon today, Brent prices jumped to the mid-point of the $72 handle after IDF airstrikes targeted Hezbollah headquarters in Beirut.
Massive Israeli Airstrikes In Beirut Target Hezbollah HQ, Nasrallah https://t.co/uqp8T0VZyM
— zerohedge (@zerohedge) September 27, 2024
Broadening war risks come as speculators have placed record bearish bets in crude markets.
Brent prices hover around $72/bbl in late morning trading in the US.
The looming question for Brent traders is: When will the war risk premium return?
A potential IDF invasion of Lebanon could provoke Iran, although there are currently no signs of Tehran’s imminent closure of the Strait of Hormuz. Given the Israel-Hezbollah escalation in conflict to the end of the week, traders should monitor these events as traders hold record net-bearish bets on crude.
Mysterious “Skyquakes” Are Causing Strange “Booms” in the Sky, and Scientists Have No Explanation
by Michael Snyder
(End of the American Dream)—What is causing the extremely loud “booms” that people are hearing in the sky all over the world? We are being told that “skyquakes” are responsible, but scientists have no idea why these “skyquakes” are occurring. In some cases, the “skyquakes” cause such powerful shaking that…
The Biggest Sale on Long-Term Storage Beef EVER
by Sponsored Post
Let’s cut to the chase. Prepper All-Naturals is offering an unprecedented 40% off for it’s “Beef Steak” survival bags with promo code “steak40”. With a 25-year shelf life and a single ingredient (beef, of course), our most popular product is available for a very limited time with the biggest discount…
Seattle Is Ordered to Stop Blocking Illegal Alien Deportations in the Most Hilarious Court Decision Ever
by PJ Media
A federal court has just pooped in the oatmeal of the West Coast, Messed Coast™governors and local election officials suffering from acute cases of Trump Derangement Syndrome who think they can stop illegal alien deportations. And after this hilarious and thorough legal takedown from the 9th Circuit Court of Appeals,…
Illegal Alien Terror Suspect Found Dead in Cook County Jail Cell
by Slay News
An Islamic illegal alien has been found dead in his jail cell after being arrested on terrorism charges. According to CWBChicago, 22-year-old Sidi Mohamed Abdallahi was found dead at the Cook County jail in Illinois on Saturday. Abdallahi was arrested on felony terrorism and hate crime charges in October. He…
Trump’s Wild Bunch Is Ready for Action
by Frank Miele
If for no other reason than that it will elicit fear in the hearts of autocracy-phobics, I propose that Donald Trump’s second-term Cabinet be known as “The Wild Bunch.” The name is best known as the title of Sam Peckinpah’s classic 1969 western featuring a colorful cast of aging outlaws…
FAA Issues Flight Restrictions Over Questionable Drone Activity Near Trump’s Bedminster Golf Course
by Just The News
The Federal Aviation Administration (FAA) on Tuesday said that it has issued two flight restrictions on the area surrounding President-elect Donald Trump’s Bedminster golf club in New Jersey, following questionable drone activity. The drone sightings were first reported on Nov. 18, but have continued into this week, according to Fox…
Ex-FBI Agent Convicted for Stealing From Jan 6 Defendant During Raid
by Trending Politics
A former Houston-based FBI agent has been convicted of stealing valuables and cash while conducting searches. In one instance, the agent stole cash and silver bars from a non-violent January 6 defendant’s home. Nicholas Anthony Williams, 36, was indicted on January 31 in the Southern District of Texas. Williams, who…
Democrats, Media Elite Urge Biden to Pardon Trump’s Alleged ‘Enemies List’
by Breitbart
President Joe Biden should issue preemptive pardons to his political allies and those deemed to be on President-elect Donald Trump’s alleged “enemies list,” Democrats and their media allies believe. Delivering a preemptive pardon indicates an admission of guilt, although Democrats claim a preemptive pardon would only be intended to block…
Fani Willis Forced to Release All Communications With Jack Smith, J6 Committee
by Trending Politics
The Fulton County Superior Court has ruled against District Attorney Fani Willis, ordering her to disclose communications with Special Counsel Jack Smith and the House January 6 Committee. The decision, announced on Tuesday, follows a lawsuit brought by Judicial Watch, a conservative watchdog group, which accused Willis of violating Georgia’s…
Lindsey Graham Is the Warmongering NeoCon Leading the Charge to Upend Pete Hegseth
by JD Rucker
Pete Hegseth represents a shift away from the wokeness that has infected the United States military. This is possibly the biggest reason President-Elect Donald Trump tapped him to be the next Secretary of Defense and the vast majority of Republicans on Capitol Hill can support this, at least for the…
‘Where Are Black Democrats?’: Charles Payne Tells Personal Story to Call Out ‘Huge Double Standard’ of Biden Family
by Nicole Silverio, DCNF
(DCNF)—Fox Business host Charles Payne called out the alleged “huge double standard” of President Joe Biden’s family Tuesday by revealing that his brother, who struggles with a crack addiction, is currently serving a jail sentence. Payne said his brother, who is getting out of jail on Friday, is likely one…
Zelensky Admits Ukraine Can’t Retake All Its Land: ‘We Must Seek Diplomatic Means’
by Breitbart
Ukrainian President Volodymyr Zelensky conceded in an interview on Tuesday that Ukraine does not have “enough forces” to restore sovereignty over Russian-occupied Crimea and “must seek diplomatic means” to end the Russian invasion and regain its land. The state-run Ukrinform outlet reported that Zelensky described Crimea – which Russia colonized…
Ultra-Processed Foods: How Bad Are They for Your Health?
by Olivia Cook
(Natural News)—Despite the serious health risks associated with eating junk food, they remain the most consumed food products in many countries, particularly developed ones. But a review published in The BMJ, which studied 9.8 million people, warns that eating a lot of ultra-processed foods can increase your risk for 32 diseases. Among these are heart…
“Already Pretty Far Down the Line”: The Container Store Could File for Bankruptcy as Soon as Next Year
by Tyler Durden, Zero Hedge
(Zero Hedge)—As the retail apocalypse that started with Amazon and e-commerce continues, the latest victim is The Container Store. The retail giant could file for bankruptcy as soon as next year, according to the New York Post, who said the retailer is blaming its recent descent on “a weak housing…
Mysterious ‘Car-Sized Drones’ Over New Jersey Prompt FBI Investigation
by Zero Hedge
Several weeks of mysterious drone swarms over the skies of one New Jersey county near the military research and manufacturing facility Picatinny Arsenal have sparked concerns among residents and prompted an FBI investigation. “It’s kind of unsettling,” Mike Walsh, a Morris County resident who has spotted the drones on numerous…
UNESCO’s New Mission: Train Influencers About Combatting Online “Misinformation”
by Reclaim the Net
The UN Educational, Scientific and Cultural Organization (UNESCO) is now incorporating teaching influencers how to “fact check” into its activities. UNESCO claims that influencers have become “primary sources of news and cultural information” around the world – which prompted it to carry out a survey into how these online personalities…
