Headline

Oil Prices Jump As Hamas-Israel Attacks Fuel Supply Fears

Published

2 years ago

October 9, 2023

Israel, reeling from the deadliest attack in half a century, formally declared war on Hamas Sunday as the conflict’s death toll surged above 1,000 after the Palestinian militant group launched a massive surprise assault from Gaza.

Oil prices rallied while the dollar and yen advanced Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh concerns about tensions in the Middle East.

The crisis fanned concerns about supplies of crude from the region at a time when supply worries are already high owing to Saudi Arabia and Russia’s output cuts.

It has also renewed fears about the impact on inflation, with energy costs a key driver of spiking prices, giving a fresh headache to central banks as they try to ease up on interest rate hikes to avoid recessions.

The surprise attack and Israel’s declaration of war in response to it have left more than 1,000 dead and raised concerns that a potential broadening of the conflict could draw in the United States and Iran.

“Key for markets is whether the conflict remains contained or spreads to involve other regions, particularly Saudi Arabia,” said ANZ Group’s Brian Martin and Daniel Hynes.

“Initially at least, it seems markets will assume the situation will remain limited in scope, duration, and oil-price consequences. But higher volatility can be expected.”

Both main contracts surged more than five percent in early Asian business before easing back as the day wore on.

However, SPI Asset Management’s Stephen Innes warned: “Historical analysis suggests that oil prices tend to experience sustained gains after the Middle East crises.

“Meanwhile, stocks tend to eventually recover and trend higher after an initial period of volatility. Safe-haven assets like gold and Treasurys, which initially see gains during such crises, tend to fade from their initial price spikes as the situation stabilises.

“But with Middle East analysts considering this to be a pivotal moment for Israel, the view looks incendiary in any current scenario.”

A decidedly risk-off mood also saw investors push into the safety of the dollar, which was up against the pound and euro, as well as the Australian and New Zealand dollars.

The yen, considered one of the safest currencies, strengthened against the greenback, though it still remains locked around 11-month lows.

Gold, another key haven, gained around one percent.

Equity markets were mixed, with Shanghai dropping on its first day back after a week-long holiday as investors continue to fret over the stuttering Chinese economy.

There were also losses in Mumbai, Singapore, Manila, Bangkok and Wellington, though Hong Kong rose in shortened trade, having been closed in the morning owing to a typhoon.

Sydney and Jakarta eked out gains. Tokyo was closed for a holiday.

London edged up while Paris and Frankfurt were lower.

The tepid performance came despite a rally on Wall Street, where traders welcomed data showing a forecast-busting jump in new jobs but wage growth slowing.

The “Goldilocks” figures — neither too strong nor too weak — lifted optimism the world’s top economy can avoid a recession even as the Federal Reserve keeps rates elevated.

Still, there are worries the bank will hike one more time before the end of the year, with officials determined to bring inflation to heel and keep it at their two percent target.
AFP

Headline

Charlie Kirk Shooter Arrested, Named

Published

14 hours ago

September 12, 2025

Editor

United States authorities have arrested a suspect in the fatal shooting of conservative activist Charlie Kirk.

Law enforcement officials identified the suspect as 21-year-old Tyler Robinson from Utah, according to NBC News, citing five senior law enforcement sources.

Kirk was fatally shot in the neck on Tuesday while speaking at a debate at Utah Valley University.

Authorities said the attacker fired a single round from a rooftop in what they described as a targeted assassination.

US President Donald Trump confirmed the arrest, telling Fox News that investigators acted “with a high degree of certainty” in taking Robinson into custody.

Trump praised the joint efforts of local police and state officials in the investigation.

Headline

FBI Releases Video Of Charlie Kirk’s Shooter, Recovers Weapons Near Scene [WATCH]

Published

23 hours ago

September 12, 2025

Editor

The FBI’s Salt Lake City Field Office on Friday released video footage of the man suspected of fatally shooting conservative activist Charlie Kirk fleeing a rooftop after the incident on September 10, 2025.

The bureau, in a statement accompanied by the video link shared on X on Friday, noted that the video shows the shooter climbing onto a rooftop shortly before the attack and then jumping off and fleeing the scene after firing the fatal shots.

Investigators also reportedly found the weapon and ammunition used in the shooting in a wooded area near the university.

The agency wrote, “The FBI has released a video and more photos of the shooter in the Utah Valley shooting. The subject is seen jumping from the rooftop of a building after the shooting.

“Around 12 pm Mountain Time on September 10, 2025, the subject climbed up to a rooftop; after he shot and killed Charlie Kirk, he jumped off and ran away. He left a gun and ammunition in a wooded area near the university.

“Trace evidence collected from the rooftop scene included shoe impressions, a forearm imprint, and a palm print. Anyone with information in this case should call the FBI at 1-800-CALL-FBI or visit fbi.gov/utahvalleyshooting.”

The bureau added that it is working closely with law enforcement partners to seek justice in the murder of Charlie Kirk.

The PUNCH reported on Thursday that the FBI released initial images of a person of interest in the fatal shooting of Kirk.

The agency also offered a $100,000 reward for information leading to the identification and arrest of those responsible for his death.

Meanwhile, two people misidentified online as suspects in the fatal shooting of right-wing US activist Charlie Kirk also told AFP Thursday they were terrified by the misinformation targeting them, as the manhunt for the real killer continued.

31-year-old Kirk, a major ally of President Donald Trump and the head of the largest conservative youth movement in the United States, was shot dead while attending an event at Utah Valley University.

Watch the video below:

https://x.com/MobilePunch/status/1966444113794109657?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1966444113794109657%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fd-186661262228333818.ampproject.net%2F2508281901000%2Fframe.html

Headline

Russia Threatens Poland Over Belarus Border Closure

Published

1 day ago

September 12, 2025

Editor

Russia, on Thursday, urged Poland to reopen its border with Belarus, Moscow’s close ally, calling the closure “destructive” and warning of consequences.

Polish Prime Minister Donald Tusk announced Tuesday the closure of the border with Belarus from 0000 on September 12 (2200 GMT on September 11), in response to the upcoming joint Russian-Belarusian war games.

“We urge Warsaw to consider the consequences of such destructive steps and to review its decision as soon as possible,” foreign ministry spokeswoman Maria Zakharova said in a statement.

The border closure was to “justify a policy of further escalating tensions in the centre of Europe”, she added.

NATO’s eastern flank members Poland, Lithuania and Latvia are on high alert due to the massive drills, which according to Tusk are designed to simulate occupation of the Suwalki corridor, a strategically important area in Poland.

Usually held every four years, the 2025 iteration of Zapad is the first during the conflict in Ukraine, and is due to run until September 16.

Belarus had said in January that 13,000 troops would be involved in the drills, but in May it said the number was to be reduced by around half.

Zakharova said Warsaw had “demonstratively” ignored the “goodwill” gestures by Moscow and Minsk to move the exercise away from the Polish border and to reduce the number of military personnel participating.