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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:
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“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.
October September Surprises
by American Greatness
An October surprise is usually defined as the well-known (and more often left-wing) tactic of manufacturing or unloading a news story right before voting to surprise a rival without allowing them time sufficiently to respond or recover. Think of the last-minute bombshell disclosure, five days before the 2000 election, that…
Spiciest One-Minute Take On Entire COVID Sham: It Was All About Hysterical Female Energy
by Revolver News
There’s an intriguing argument being made about the COVID pandemic response, and it’s coming from a rather unexpected source—a woman. She suggests, in about one minute, that the entire reaction to the virus was driven by a distinctly female worldview. Honestly, this is the spiciest and best take we’ve ever…
NATO Prepares Mass Evacuation and Rescue Plans as Senior General Warns of World War 3 With Russia
by The Gateway Pundit
NATO is mobilizing its resources and strategic plans in anticipation of a potential all-out war, as articulated by Lieutenant-General Alexander Sollfrank, head of NATO’s logistics command. This urgent preparation underscores a grim reality: the specter of World War III is looming. In these two and a half years of war…
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Get Ready for Another Mail-in Ballot Fiasco
by Daily Signal
Many states are sending out mail-in ballots now for the Nov. 5 presidential election. Yet at the same time that so many more voters are depending on the mail to cast their ballots, the two leading national organizations of election officials wrote the U.S. Postal Service to demand immediate action…
Fact Check: Springfield, Ohio, Claims Haitian Migrants Are ‘Legal.’ Are They?
by Daily Signal
The Rust Belt community of Springfield, Ohio, now has a page on its website dedicated to answering common questions about the flood of illegal aliens, mostly Haitians, who have arrived there in recent years. “The City of Springfield has experienced a surge in our population over the last several years,…
United Nations JUST APPROVED the framework for a One World Government
by Glenn Beck
The United Nations kicked off its 2024 General Assembly by approving a group of game-changing proposals that are practically the framework for a One World Government. Glenn’s co-author for “The Great Reset,” “Dark Future,” and his upcoming book, “Propaganda Wars,” Justin Haskins, joins to break down what this “Pact for…
Reality Check: Has Telegram Bowed to Global Censorship Overlords After Founder’s Arrest in Paris?
by World Tribune
Less than a month after he was arrested by French authorities in Paris, Telegram CEO Pavel Durov announced the messaging app would bow to Western governments’ requests to provide Telegram users’ personal information. On Sept. 23, Durov said Telegram will provide users’ IP addresses and phone numbers “to relevant political…
‘Evidence Free’: Puberty Blocker Recommendation May Break Law, 21 Ags Warn Pediatrician Group
by Daily Wire
A group of nearly two dozen state attorneys general is warning the American Academy of Pediatrics that it may be breaking the law by continuing to recommend puberty blockers to children who are unhappy with their biological gender despite evidence the drugs cause harm. On Tuesday, the 21 attorneys general,…
FTC: Tech Giants Collecting Massive Amounts of Data From Kids and Teens
by Ava Grace, Natural News
(Natural News)—The Federal Trade Commission (FTC) has disclosed in a report that tech giants are collecting massive amounts of data from their young users. The FTC report published Sept. 19 expounded on how social media and streaming companies endanger children and teens who use their platforms. It also showed how “the tech industry’s…
The Vast Pharmaceutical Conspiracy to Silence Dissent Online
by A Midwestern Doctor
Story at a Glance: There has been a coordinated campaign to attack and defame anyone who has spoken out against the COVID-19 response. This has primarily been restricted to social media (e.g., getting people deplatformed) but it has also been weaponized in real life (e.g., getting medical licenses revoked). This…
Busted: Will Media Ignore Coke Censoring ‘President Trump’ but Greenlighting ‘President Harris’?
by Newsbusters
Here’s a story the liberal media won’t cover: Leftist soda giant Coca-Cola seems to have made it clear where its political loyalties lie for the 2024 election, and it may have violated federal election law in the process. When MRC researchers attempted to customize a “Personalized 12 fl oz. Can…
Texas Warns Venezuelan Prison Gang “Activity Happening Across State”
by Tyler Durden, Zero Hedge
(Zero Hedge)—Transportation Secretary Pete Buttigieg took to X on Tuesday. He wasn’t speaking about the need for racial equity in America’s highways or woke activism in the FAA, but he attempted to persuade the internet that “crime is down.” What a ‘weird’ topic for Buttigieg to discuss with X users,…
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