(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.
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
Angry Leftists Plot to Tank Trump Economy by Not Spending Any Money Once He’s in Office
by The Gateway Pundit
Most people are expecting the economy to improve under Trump and these people don’t want that to happen, or at least don’t want Trump to get any credit for it. They would rather that people remain miserable than see Trump and the country do well. Breitbart News reports: Leftists Pledge…
Ohio Man Faces Prison Term for Laundering More Than $300 Million in Bitcoin
by The Epoch Times
Ohio-based Larry Dean Harmon has been sentenced to three years in prison for operating a cryptocurrency service used by criminals for laundering millions of dollars, according to the U.S. Department of Justice (DOJ). Harmon, 41, ran a Bitcoin mixer called Helix that was “highly sought after by online drug dealers…
Sabotage: Two Undersea Internet Cables Connecting Four NATO Nations Were Severed
by Publius
Many in the international community are claiming sabotage as the only viable explanation for two fiber optic internet cables in the Baltic Sea being severed less than 24-hours apart. Fingers are being pointed at Russia as one of the the cables connected NATO nations Germany and Finland. The latter was…
“Massive Breach”: T-Mobile Network Hacked by Chinese State Sponsored Intelligence
by Tyler Durden, Zero Hedge
(Zero Hedge)—Where’s John Legere in a pink t-shirt when you need him? Among the multiple stories over the last few weeks about Chinese intelligence and hackers either attempting to, or outright gaining access, to U.S. cell phone networks (with reports stating President Trump and his team were targeted), comes news…
Income Needed to Afford a Home Hits Record High in U.S. Cities
by Dallas Express
Owning a single-family home in the U.S. now requires an average annual income of $107,700, nearly double the income needed in 2019, according to a new report by Oxford Economics. This increase is attributed to soaring home prices and nearly doubled mortgage rates over the past five years, the New…
Senators Ask Cyber Review Board to Conduct Investigation on Chinese Hack Group
by The Epoch Times
A bipartisan group of senators has urged a federal review board to immediately begin an investigation into a Chinese hacking group’s attacks against the United States, according to a recent letter sent to Robert Silvers, undersecretary for policy at the Department of Homeland Security (DHS). Led by Sen. Eric Schmitt…
Russian Officials Believe That “NATO Has Gone to War With Russia”
by Michael Snyder
Editor’s Commentary: Before we get into the article and video below by Michael Snyder, I want to make an important note. I do not believe that Russia is in any condition to actually go to war with NATO. I also do not believe that Donald Trump is, in any way,…
‘That’s Not Helpful’: Harris Faulkner Slams Dem Guest After He Claims Americans Don’t Understand How Strong Economy Is
by Daily Caller
Fox News host Harris Faulkner called out a Democratic guest Monday after he claimed American voters didn’t understand that the economy was “strong.” President-elect Donald Trump defeated Vice President Kamala Harris, securing more than the 270 electoral votes necessary to win the presidency in the early morning of Nov. 6…
Global Propagandists Find Out: AP to Slash Staff by 8% as Major News Outlets Stop Buying Its Content
by JD Rucker
Everyone in legacy corporate media is struggling with the possible exception of Fox News. Following Donald Trump’s election victory, the writing on the wall that legacy media has been pretending wasn’t there became too bright to ignore. The people don’t trust the media. It’s not because of the Trump victory….
Trump to Declare a National Emergency to Conduct Mass Deportations
by Tyler Durden, Zero Hedge
(ZeroHedge)—President-elect Donald Trump confirmed Monday that he will declare a national emergency to carry out mass deportations. In response to Judicial Watch president Tom Fitton’s post on Truth Social that Trump was “prepared to declare a national emergency and will use military assets to reverse the Biden invasion through a…
Gov. Youngkin’s Executive Order Seeks to Address Virginia’s Housing Shortage
by Just The News
From now on, economic and housing development will be tied more closely together in Virginia, according to the latest executive order from the governor. Gov. Glenn Youngkin issued and announced Executive Order 42 in Thursday at the annual Virginia Governor’s Housing Conference. The order brings the commonwealth’s economic development and…
“Hopefully No More”: How Trump Appointments Could Sway the Balance of Power in the House
by Owen Klinsky, DCNF
(DCNF)—President-elect Donald Trump’s cabinet picks could temporarily jeopardize the GOP’s slim majority in the House of Representatives. The GOP has held on to control of the House, securing the 218 seats needed for a majority with five races still yet to be called, according to The Associated Press. However, Trump…
Ramaswamy Expects ‘Mass Reductions’ in Federal Government Under Trump
by Daily Wire
There will be “mass reductions” in the federal government under President-elect Donald Trump‘s second administration, Vivek Ramaswamy predicted this weekend. Ramaswamy, whom Trump picked to lead the brand new Department of Government Efficiency (DOGE) along with Elon Musk, spoke to Fox News anchor Maria Bartiromo on “Sunday Morning Futures” about…
Texas Again Breaks Its Own Jobs Records
by Bethany Blankley, The Center Square
(The Center Square)—Texas continues to break jobs records every month and October was no different. Texas again grew jobs at a faster annual rate than the national job growth rate over the year in October. It also set a new record high for the greatest number employed in the civilian…
Congresswoman Nancy Mace to File Resolution Banning New Trans Congressman From Women’s Restrooms
by JD Rucker
Despite all of the amazing victories the GOP had on Election Day in the ongoing battle against wokeness, there was one conspicuous loss. Delaware elected “Sarah” McBride (born “Tim”) as the first trans member of Congress. Congresswoman Nancy Mace is calling on her GOP colleagues to pass a resolution banning…
