Saudi Arabia Calls for Cool Heads to Prevail in Israel-Hamas Negotiations - OilPrice.com
Saudi Arabia Calls for Cool Heads to Prevail in Israel-Hamas Negotiations | OilPrice.com
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Saudi Arabia has warned the war between Israel and Hamas could have repercussions for the whole region and the world unless brought to a quicker end.
The kingdom called for regional stability on Sunday, at the start of talks organized by the World Economic Forum, taking place in Riyadh.
"I think cool-headed countries and leaders and people need to prevail, and you need to make sure that you actually de-escalate," Saudi Finance Minister Mohammed al-Jadaan said, as quoted by the New Arab.
A top concern within the context of the Israel-Hamas war is the security of oil supply, of course, with prices jumping every time there is news about a potential escalation of the conflict, and deflating once the danger passes.
Right now, bullish factors have the upper hand, with signs that both sides are ready to talk about a ceasefire this week. The news has weighed on oil prices, helped by the latest U.S. inflation report.
“The world is today walking a tightrope right now, trying to balance security and prosperity,” Saudi Arabia’s planning minister, Faisal al-Ibrahim told media at the event. “We meet at a moment when one misjudgment or one miscalculation or one miscommunication will further exacerbate our challenges.”
World Economic Forum president Borge Brende, however, sounded a positive note, saying that there was “some new momentum now in the talks around the hostages, and also for... a possible way out of the impasse we are faced with in Gaza”.
Reuters reported Sunday that a Hamas delegation will be traveling to Cairo today for ceasefire talks. The report came hours before the news broke that Israeli forces had attacked Rafah, killing at least 13 people. Before that, the media had reported Israel had agreed to address U.S. concerns about the humanitarian implications of such a strike.
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By Charles Kennedy for Oilprice.com
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