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Will the latest Middle East crisis impact oil markets?

Last week’s airstrikes in Yemen by the US and UK are prompting concerns about potential impacts on oil prices. Despite media portrayal of unrest, it is prudent to exercise caution before prematurely asserting a significant spike in oil prices. The 4% surge in crude oil futures on Friday falls within …

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Iran warns US of ‘new fronts’ in Middle East

The US could face dire consequences in the Middle East if it continues to support Israel, Iranian Foreign Minister Hossein Amir-Abdollahian has warned. His comments came amid the ongoing conflict between Israel and the Palestinian armed group Hamas, and following American strikes on military sites in the region allegedly used …

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US clears heavy arms sales to Middle East state

The US State Department greenlit a potential sale of 300 Patriot missiles and related equipment to Saudi Arabia to bolster its defenses for an estimated cost of $3.05 billion, the Defense Security Cooperation Agency said on Tuesday. The agency said that the kingdom requested to buy 300 Raytheon Technologies-made MIM-104E …

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US is ‘priority’ of every Middle East country – White House

Washington has re-established itself under President Joe Biden’s watch as the dominant security and economic partner desired by Middle East governments, halting a trend toward countries seeking closer ties with Russia and China, a senior White House official has claimed. “If you go back to this region, say, I don’t …

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Biden comments on ‘vacuum’ in Middle East

President Joe Biden told reporters on Thursday that the US would “continue to lead” in the Middle East, in order to stop Russia and China from filling a “vacuum.” Beijing took a dim view of his words, responding that only the “people in the Middle East are the masters of …

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Ukraine severs diplomatic ties with Middle East state

The Ukrainian Ministry of Foreign Affairs announced on Thursday that it’s severing diplomatic ties with Syria after Damascus recognized the independence of the Donetsk and Lugansk People’s Republics in Donbass. In a statement published on its website, the ministry said it “strongly condemns” Syria’s decision, which it considers an “unfriendly …

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