News

The Israel-Hamas War Remains Contained... For Now

OilPrice · Editorial Dept · last updated

The Israel-Hamas War Remains Contained... For Now | OilPrice.com

Politics, Geopolitics & Conflict

The frontier between Lebanon and Israel has become an intense second front in the Hamas-Israel conflict, which threatens to intensify though Lebanon’s Hezbollah leader Nasrallah avoided calling for an escalation of war with Israel in his speech last Friday. In the meantime, Israel has agreed to 4-hour daily ceasefires to allow for humanitarian aid in Gaza, while at the same time striking a hospital complex on Thursday, where it claims Hamas is operating. Israel also killed 14 people in the Jenin refugee camp in the West Bank. The U.S. struck a weapons facility in Syria in a pre-emptive attack on Iranian-backed militia forces targeting U.S. bases there.

The European Commission this week handed Ukraine a diplomatic victory by recommending that the EU invite Kyiv to begin accession talks. Talks would start formally as soon as Ukraine meets the remaining conditions bringing it in line with EU standards. The deal is also for Moldova. While the Commission has recommended the opening of accession negotiations with Ukraine and Moldova, Georgia will be granted candidate status (a step further than Ukraine) and Bosnia-Herzegovina was also recommended for the opening of accession negotiations. It’s still a long road, and this is mostly a headline victory for the time being.

Ukraine assassinated a member of the pro-Moscow Luhansk regional parliament in a car bomb attack on Wednesday. Kyiv took responsibility for the assassination…

Related Knowledge Center: ENERGY BASICS: petroleum

State of Play

While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

More informationabout ENERGY BASICS: petroleum