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Israel Hamas War Live News Updates: Oil prices ease as aid convoys arrive in embattled Gaza Strip
23 Oct, 2023 | 08:34:53 AM IST
Israel Hamas War Live News Updates: In recent developments, oil prices have seen a decline as efforts have been made to provide aid to the Gaza Strip and to contain the conflict between Israel and Hamas from spreading to the oil-rich region. Brent crude futures dropped by 60 cents to $91.56 per barrel, and U.S. West Texas Intermediate crude futures lost 61 cents to trade at $87.47 a barrel.
Over the past week, oil contracts saw a rise of over 1% for the second consecutive week. This increase was driven by concerns of potential supply disruptions if the Israel-Hamas conflict were to escalate into a broader confrontation in the Middle East, which is a major oil-supplying region.
ANZ Research reported, "Israel agreed to hold off its attack on Hamas following pressure from the U.S. This eased concerns that the Israel-Hamas war would spread across the Middle East and disrupt supplies."
To address the already tight supply situation, partly due to output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the U.S. has temporarily suspended sanctions on OPEC member Venezuela after a government deal between Venezuela and the opposition.
Additionally, aid convoys have started arriving in the Gaza Strip from Egypt, coinciding with a summit in Cairo where Arab leaders and foreign ministers gathered, though they were unable to issue a joint statement.
U.S. President Joe Biden, who recently visited Israel, held discussions with leaders from Canada, France, Britain, Germany, and Italy. He had earlier spoken with Israeli Prime Minister Benjamin Netanyahu and Pope Francis.
This week, leaders of France and the Netherlands are expected to visit Israel in search of a solution for the conflict that began on October 7th following a Hamas attack. Notably, Israel has carried out air strikes on Gaza, and its aircraft have struck Lebanon.
Over the past week, oil contracts saw a rise of over 1% for the second consecutive week. This increase was driven by concerns of potential supply disruptions if the Israel-Hamas conflict were to escalate into a broader confrontation in the Middle East, which is a major oil-supplying region.
ANZ Research reported, "Israel agreed to hold off its attack on Hamas following pressure from the U.S. This eased concerns that the Israel-Hamas war would spread across the Middle East and disrupt supplies."
To address the already tight supply situation, partly due to output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the U.S. has temporarily suspended sanctions on OPEC member Venezuela after a government deal between Venezuela and the opposition.
Additionally, aid convoys have started arriving in the Gaza Strip from Egypt, coinciding with a summit in Cairo where Arab leaders and foreign ministers gathered, though they were unable to issue a joint statement.
U.S. President Joe Biden, who recently visited Israel, held discussions with leaders from Canada, France, Britain, Germany, and Italy. He had earlier spoken with Israeli Prime Minister Benjamin Netanyahu and Pope Francis.
This week, leaders of France and the Netherlands are expected to visit Israel in search of a solution for the conflict that began on October 7th following a Hamas attack. Notably, Israel has carried out air strikes on Gaza, and its aircraft have struck Lebanon.
1 New Update
Israel Hamas War Live News Updates: US advises Israel to delay Gaza invasion, officials say
Israel Palestine War Live: The Biden administration has recommended to Israel that it postpones a ground invasion of the Gaza Strip. This advisory aims to create a window for hostage negotiations and to facilitate the delivery of more humanitarian assistance to the Palestinian population in the isolated region. Several U.S. officials have confirmed this development.
U.S. officials also expressed the need for additional time to prepare for potential attacks on U.S. interests in the region by Iran-backed groups. These officials believe that such attacks may become more intense once Israel deploys its forces fully into Gaza.
It is essential to note that the U.S. administration is not issuing a demand to Israel. It continues to support Israel's intention to pursue a ground invasion with the goal of eliminating Hamas, the group that holds control in Gaza. Hamas was responsible for a series of terrorist attacks on October 7th, resulting in the deaths of approximately 1,400 people.
U.S. officials also expressed the need for additional time to prepare for potential attacks on U.S. interests in the region by Iran-backed groups. These officials believe that such attacks may become more intense once Israel deploys its forces fully into Gaza.
It is essential to note that the U.S. administration is not issuing a demand to Israel. It continues to support Israel's intention to pursue a ground invasion with the goal of eliminating Hamas, the group that holds control in Gaza. Hamas was responsible for a series of terrorist attacks on October 7th, resulting in the deaths of approximately 1,400 people.
Israel Hamas War Live News Updates: Hamas leaves behind booby-trapped children's bags
Israel Palestine War Live: The Israeli Defense Forces' (IDF) Yahalom Unit, a combat engineering special forces division, remains committed to the challenging and meticulous work of removing explosives and weapons left behind by Hamas terrorists after the October 7th massacre. Hamas deliberately planted numerous booby traps, further complicating the process of securing Israeli territory from any remaining terrorists and explosives, as well as recovering the bodies of the victims.
Tragically, some of the victims' bodies were found rigged with explosives. For instance, the IDF shared images of a child's school bag discovered in a field, which had been booby-trapped and contained a 7 kg remote-activated explosive device. It is evident that Hamas deliberately chose to booby-trap an innocent child's backpack, likely in the hope that a well-intentioned civilian would pick it up.
The Yahalom Unit's tireless efforts underline the ongoing challenges and dangers associated with ensuring the safety of Israeli territory and its citizens in the aftermath of such a heinous act. The IDF's dedication to this difficult mission is unwavering, despite the hazards posed by these hidden threats.
Tragically, some of the victims' bodies were found rigged with explosives. For instance, the IDF shared images of a child's school bag discovered in a field, which had been booby-trapped and contained a 7 kg remote-activated explosive device. It is evident that Hamas deliberately chose to booby-trap an innocent child's backpack, likely in the hope that a well-intentioned civilian would pick it up.
The Yahalom Unit's tireless efforts underline the ongoing challenges and dangers associated with ensuring the safety of Israeli territory and its citizens in the aftermath of such a heinous act. The IDF's dedication to this difficult mission is unwavering, despite the hazards posed by these hidden threats.
Israel Hamas War Live News Updates: Indian shares set to open lower tracking Asian peers
Israel Palestine War Live: Dalal Street is poised to open lower, mirroring the trend in Asian markets. This decline is attributed to the escalating conflict in the Middle East, which has disrupted investor sentiment. Additionally, market participants are eagerly awaiting the response to the quarterly performance reports of major private lenders.
As of 8:11 a.m. IST, India's GIFT Nifty stands at 19,479.50, showing a 0.27% increase from its previous close. However, it is slightly lower than the Nifty 50's closing figure of 19,524.65 on the preceding Friday.
Furthermore, Asian markets have experienced a 0.5% drop in response to the intensification of the conflict between Israel and Hamas, which has had a negative impact on market sentiment. The United States has also issued a warning of significant risks to its interests in the Middle East due to this situation.
In the realm of commodities, Brent crude futures dipped to $91.50 per barrel on Monday, following their previous session's brief period above $93. This drop in oil prices is a concern for countries like India, which rely on imports of this commodity.
As of 8:11 a.m. IST, India's GIFT Nifty stands at 19,479.50, showing a 0.27% increase from its previous close. However, it is slightly lower than the Nifty 50's closing figure of 19,524.65 on the preceding Friday.
Furthermore, Asian markets have experienced a 0.5% drop in response to the intensification of the conflict between Israel and Hamas, which has had a negative impact on market sentiment. The United States has also issued a warning of significant risks to its interests in the Middle East due to this situation.
In the realm of commodities, Brent crude futures dipped to $91.50 per barrel on Monday, following their previous session's brief period above $93. This drop in oil prices is a concern for countries like India, which rely on imports of this commodity.
Israel Hamas War Live News Updates: Second aid convoy reaches Gaza as Israel attacks targets in Syria and occupied West Bank
Israel Palestine War Live: The second humanitarian aid convoy destined for Palestinian civilians in need arrived in Gaza on Sunday. Simultaneously, Israel expanded its attacks to include targets in Syria and the occupied West Bank. Israeli Prime Minister issued a warning to Lebanon's Hezbollah militant group, stating that if they initiate a conflict, Israel will respond with overwhelming force. In recent days, Israel has been poised for a potential ground offensive in Gaza, prompted by Hamas' actions on October 7, when they carried out a violent incursion into Israeli communities. Tanks and troops have been positioned at the Gaza border, awaiting orders to advance.
Israel Hamas War Live News Updates: Copper dips amid Middle East worries, rising stocks
Israel Palestine War Live: Copper prices began the week with a decline, influenced by growing concerns surrounding the Middle East conflict and an increase in metal stocks. On the London Metal Exchange (LME), the three-month copper fell by 0.4% to $7,918 per metric ton as of 0152 GMT. Meanwhile, the most-traded December copper contract on the Shanghai Futures Exchange experienced a 0.8% decrease, reaching 65,840 yuan ($9,000.93) per ton.
These price drops can be attributed to mounting fears that the Israel-Hamas conflict might escalate into a broader Middle East crisis, with Washington warning of significant risks to U.S. interests in the region. Israel's actions in Gaza and clashes on its border with Lebanon have contributed to these concerns.
It's worth noting that stocks on the LME have been on the rise since mid-July, reaching a two-year peak by the end of last week. Additionally, copper stocks on the SHFE increased for a second consecutive week as of Friday. Other metal prices also exhibited various changes, with LME aluminum decreasing by 0.2% to $2,176.50 a ton, tin remaining relatively stable at $24,995, zinc sliding by 0.7% to $2,420, lead decreasing by 0.3% to $2,093.50, and nickel gaining 0.1% to reach $18,600.
On the SHFE, aluminum fell by 0.4% to 18,910 yuan a ton, zinc slid by 0.4% to 18,900 yuan, lead increased by 0.5% to 16,580 yuan, nickel remained relatively stable at 149,050 yuan, and tin experienced a 1.1% decline, reaching 214,220 yuan.
These price drops can be attributed to mounting fears that the Israel-Hamas conflict might escalate into a broader Middle East crisis, with Washington warning of significant risks to U.S. interests in the region. Israel's actions in Gaza and clashes on its border with Lebanon have contributed to these concerns.
It's worth noting that stocks on the LME have been on the rise since mid-July, reaching a two-year peak by the end of last week. Additionally, copper stocks on the SHFE increased for a second consecutive week as of Friday. Other metal prices also exhibited various changes, with LME aluminum decreasing by 0.2% to $2,176.50 a ton, tin remaining relatively stable at $24,995, zinc sliding by 0.7% to $2,420, lead decreasing by 0.3% to $2,093.50, and nickel gaining 0.1% to reach $18,600.
On the SHFE, aluminum fell by 0.4% to 18,910 yuan a ton, zinc slid by 0.4% to 18,900 yuan, lead increased by 0.5% to 16,580 yuan, nickel remained relatively stable at 149,050 yuan, and tin experienced a 1.1% decline, reaching 214,220 yuan.
Israel Hamas War Live News Updates: Israel says it's stepping up attacks on the Gaza Strip
Israel Palestine War Live: Israeli warplanes have carried out airstrikes in various locations across the Gaza Strip, including two airports in Syria, and a mosque in the occupied West Bank, which was allegedly used by militants. Simultaneously, a second convoy of humanitarian aid reportedly commenced its journey into Gaza from Egypt on Sunday afternoon.
Israel's military spokesperson has stated that the country is intensifying its air attacks, and there is a growing anticipation of a potential ground offensive.
This ongoing conflict, now in its 16th day, stands as the deadliest of the five Gaza wars for both the Israeli and Palestinian sides. The Palestinian Health Ministry reported on Sunday that the death toll in Gaza has reached a staggering 4,651 individuals, with an additional 14,254 people sustaining injuries in the besieged region.
Israel's military spokesperson has stated that the country is intensifying its air attacks, and there is a growing anticipation of a potential ground offensive.
This ongoing conflict, now in its 16th day, stands as the deadliest of the five Gaza wars for both the Israeli and Palestinian sides. The Palestinian Health Ministry reported on Sunday that the death toll in Gaza has reached a staggering 4,651 individuals, with an additional 14,254 people sustaining injuries in the besieged region.
Israel Hamas War Live News Updates: Tokyo shares fall on Middle East worries
Israel Palestine War Live: Monday saw Tokyo stocks opening with a decline, driven by investor concerns about a potential worsening of the Middle East crisis. The benchmark Nikkei 225 index dropped by 0.47%, equivalent to 146.06 points, settling at 31,113.30. Simultaneously, the broader Topix index saw a decrease of 0.35%, or 7.96 points, closing at 2,247.69.
This dip follows New York shares ending the previous week in negative territory due to apprehensions about a possible ground invasion by Israel in Gaza. Nomura Securities expressed that the Middle East situation is expected to exert downward pressure on the market throughout the week.
This dip follows New York shares ending the previous week in negative territory due to apprehensions about a possible ground invasion by Israel in Gaza. Nomura Securities expressed that the Middle East situation is expected to exert downward pressure on the market throughout the week.
Israel Hamas War Live News Updates: US, UK & allies extend support to Israel while urging it to uphold humanitarian laws
Israel Palestine War Live: Leaders of the United States, the United Kingdom, France, Canada, and Italy have expressed their support for Israel's right to defend itself against the Palestinian militant group Hamas. In a joint statement following a call initiated by U.S. President Joe Biden with several world leaders, they emphasized the importance of upholding international humanitarian laws and protecting civilians. The recent conflict, triggered by attacks by Hamas militants on October 7, has led to Israel launching a significant counter-offensive against the group that has governed Gaza since 2007.
Additionally, the leaders welcomed the release of two American hostages and called for the immediate release of all remaining hostages. They committed to close coordination to support their nationals in the region, particularly those wanting to leave Gaza. Humanitarian assistance reaching Palestinians in Gaza was also welcomed, and they pledged continued coordination to ensure sustained and safe access to essential resources.
The leaders expressed their commitment to close diplomatic coordination to prevent the conflict from spreading, preserve stability in the Middle East, and work toward a political solution and lasting peace. U.S. President Biden further discussed these matters with Israel's Prime Minister, Benjamin Netanyahu, and appreciated Israel's support in securing the release of the American hostages. They discussed efforts to secure the release of all remaining hostages taken by Hamas and provide safe passage for U.S. citizens and other civilians in Gaza who wish to depart.
Additionally, the leaders welcomed the release of two American hostages and called for the immediate release of all remaining hostages. They committed to close coordination to support their nationals in the region, particularly those wanting to leave Gaza. Humanitarian assistance reaching Palestinians in Gaza was also welcomed, and they pledged continued coordination to ensure sustained and safe access to essential resources.
The leaders expressed their commitment to close diplomatic coordination to prevent the conflict from spreading, preserve stability in the Middle East, and work toward a political solution and lasting peace. U.S. President Biden further discussed these matters with Israel's Prime Minister, Benjamin Netanyahu, and appreciated Israel's support in securing the release of the American hostages. They discussed efforts to secure the release of all remaining hostages taken by Hamas and provide safe passage for U.S. citizens and other civilians in Gaza who wish to depart.
Israel Hamas War Live News Updates: Canada's Trudeau speaks to Israel's Herzog about Hamas' attacks
Israel Palestine War Live: Canadian Prime Minister Justin Trudeau stated on Sunday that he had a conversation with Israeli President Isaac Herzog regarding the attacks by the Palestinian Islamist group Hamas. In a post on the social media platform X (formerly known as Twitter), Trudeau mentioned, "We discussed the hostages held by Hamas and the urgent need for their release." The post also emphasized Canada's support for Israel's right to self-defense in accordance with international law.
Israel Hamas War Live News Updates: Israel strikes West Bank mosque, killing 2
Israel Palestine War Live: The Israeli military conducted an unusual airstrike on a mosque in the occupied West Bank overnight, resulting in the death of at least two individuals. Palestinian officials have labeled this action a "dangerous escalation."
The strike targeted a mosque located in the densely populated Palestinian refugee camp of Jenin in the northern West Bank.
The Israeli military claimed that the strike aimed at an underground "terror compound" beneath the mosque, which, according to them, was being used by Hamas and Islamic Jihad for planning an imminent attack. Lt. Col. Richard Hecht, an Israeli military spokesperson, referred to the activities beneath the mosque as a "ticking time bomb." It is essential to note that these claims have not been independently verified.
The strike caused significant damage to the mosque, and at least two people lost their lives, with three others sustaining injuries, according to the Palestinian health ministry. The Palestinian Foreign Ministry characterized the strike as a "dangerous escalation in the use of warplanes," suggesting that Israel is applying tactics used in the Gaza Strip to the occupied West Bank.
The strike targeted a mosque located in the densely populated Palestinian refugee camp of Jenin in the northern West Bank.
The Israeli military claimed that the strike aimed at an underground "terror compound" beneath the mosque, which, according to them, was being used by Hamas and Islamic Jihad for planning an imminent attack. Lt. Col. Richard Hecht, an Israeli military spokesperson, referred to the activities beneath the mosque as a "ticking time bomb." It is essential to note that these claims have not been independently verified.
The strike caused significant damage to the mosque, and at least two people lost their lives, with three others sustaining injuries, according to the Palestinian health ministry. The Palestinian Foreign Ministry characterized the strike as a "dangerous escalation in the use of warplanes," suggesting that Israel is applying tactics used in the Gaza Strip to the occupied West Bank.
Israel Hamas War Live News Updates: Israeli airstrike launched on Lebanon's southern outskirts of Aitaroun town - state media
Israel Palestine War Live: Late on Sunday, Israeli fighter jets conducted an airstrike in the southern part of Aitaroun town in southern Lebanon, as reported by Lebanon's state media, NNA.
Israel Hamas War Live News Updates: Hamas leader, Iran's FM discuss means of stopping Israeli 'brutal crimes' in Gaza
Israel Palestine War Live: Hamas leader Ismail Haniyeh and Iranian Foreign Minister Hossein Amirabdollahian held discussions on how to halt what they referred to as "Israeli brutal actions" in the blockaded Gaza enclave, according to a statement released by the group on Sunday.
Israel Hamas War Live News Updates: Sixth flight arrives from Israel under Operation Ajay
Israel Palestine War Live: Union Minister Faggan Singh Kulaste personally greeted 143 passengers who arrived in Delhi from Israel on an Indian flight amid the ongoing conflict involving the terrorist group Hamas. This marked the sixth flight as part of 'Operation Ajay,' an ongoing initiative by the Indian armed forces to bring back Indian citizens stranded in Israel due to the ongoing Israeli counter-offensive against Hamas.
The Union Minister, responsible for Steel and Rural Development, expressed his happiness and relief at the safe return of stranded Indians from Israel as the sixth flight landed in the national capital. Speaking to ANI at the Delhi airport, he said, "I am here to welcome everyone arriving from Israel. I am pleased to have this opportunity to welcome fellow citizens who are being repatriated from Israel. Personally, it's a great relief that 143 Indians have returned safely from the conflict zone."
Regarding the Indians still stranded and awaiting repatriation, the Union Minister assured that efforts were ongoing to evacuate every citizen who wished to return. He added that as soon as the necessary formalities are completed, arrangements will be made to bring them back home.
The Union Minister, responsible for Steel and Rural Development, expressed his happiness and relief at the safe return of stranded Indians from Israel as the sixth flight landed in the national capital. Speaking to ANI at the Delhi airport, he said, "I am here to welcome everyone arriving from Israel. I am pleased to have this opportunity to welcome fellow citizens who are being repatriated from Israel. Personally, it's a great relief that 143 Indians have returned safely from the conflict zone."
Regarding the Indians still stranded and awaiting repatriation, the Union Minister assured that efforts were ongoing to evacuate every citizen who wished to return. He added that as soon as the necessary formalities are completed, arrangements will be made to bring them back home.
Israel Hamas War Live News Updates: Blinken, Austin say US is ready to respond if US personnel become targets
Israel Palestine War Live: Secretary of State Antony Blinken and Defense Secretary Lloyd Austin stated on Sunday that the United States anticipates an escalation of the Israel-Hamas conflict involving Iranian proxies. They emphasized the Biden administration's readiness to respond if American personnel or armed forces are targeted in such hostilities.
Blinken expressed that while escalation is not desired, the U.S. is prepared for the protection of its forces and personnel if the need arises, saying, "We don't want to see our forces or our personnel come under fire. But if that happens, we're ready for it."
Austin supported this stance, highlighting the potential for a significant increase in attacks on U.S. troops and personnel in the region. He asserted the U.S.'s right to self-defense and the willingness to take appropriate action.
These warnings from senior U.S. officials came as Israel's military response to a Hamas attack on civilians in southern Israel on October 7th entered its third week.
Blinken expressed that while escalation is not desired, the U.S. is prepared for the protection of its forces and personnel if the need arises, saying, "We don't want to see our forces or our personnel come under fire. But if that happens, we're ready for it."
Austin supported this stance, highlighting the potential for a significant increase in attacks on U.S. troops and personnel in the region. He asserted the U.S.'s right to self-defense and the willingness to take appropriate action.
These warnings from senior U.S. officials came as Israel's military response to a Hamas attack on civilians in southern Israel on October 7th entered its third week.
Israel Hamas War Live News Updates: Dwindling fuel supplies for Gaza's hospital generators put premature babies in incubators at risk
Israel Palestine War Live: In the neonatal ward of al-Aqsa Hospital in the central Gaza Strip, a premature baby struggles for survival inside an incubator. Connected to intravenous lines, a ventilator assists in breathing, while a catheter administers vital medication, and monitors closely track the fragile signs of life. However, the very lifeline of these infants relies on a continuous supply of electricity, which is at imminent risk of running out due to fuel shortages for the hospital's generators. Hospital director Iyad Abu Zahar expresses deep concern that if the generators fail, these vulnerable infants, unable to breathe independently, may not survive.
Doctors in neonatal units across Gaza face similar challenges, with around 130 premature babies in six units considered to be at severe risk due to the ongoing fuel shortages. These shortages are a direct consequence of the Israeli blockade of Gaza, initiated after Hamas militants launched attacks on Israeli towns on October 7. The situation has also left approximately 50,000 pregnant women in Gaza unable to access crucial healthcare services.
Doctors in neonatal units across Gaza face similar challenges, with around 130 premature babies in six units considered to be at severe risk due to the ongoing fuel shortages. These shortages are a direct consequence of the Israeli blockade of Gaza, initiated after Hamas militants launched attacks on Israeli towns on October 7. The situation has also left approximately 50,000 pregnant women in Gaza unable to access crucial healthcare services.
