Financial markets have often mis-priced major geopolitical shocks and they may have got their probabilities wrong again. The bad news is that markets seem to be placing the likelihood of regionwide non-escalation at 95%. Complacency could prove costly.
The drone came from Yemen and was heading in the direction of the USS Thomas Hudner destroyer, which was in international waters, when the shoot-down occurred, the Pentagon said.
BAGHDAD (Reuters) -U.S. Secretary of State Antony Blinken paid an unannounced visit to Iraq on Sunday, as he tours the Middle East attempting to tamp down tensions after war erupted between Israel and Palestinian militants Hamas last month. After an earlier visit to the occupied West Bank, Blinken landed in Baghdad on Sunday evening for his first visit to the country as the U.S. top diplomat and held talks with Iraqi Prime Minister Mohammed al-Sudani. Washington wants to prevent a wider regional conflict and has stepped up diplomacy with regional countries whose populations have been angered by Israel's assault on Gaza.
Repeated attacks on American troops in the Middle East risk drawing the United States into a conflict with Iran even as Washington strives to prevent fighting between Israel and Hamas from spiraling into a regional war.The United States has repeatedly said it wants to keep the Israel-Hamas war from becoming a broader conflict and has bolstered its forces in the region including with one carrier strike group that is there and another in transit as part of its deterrence efforts.
(Bloomberg) Oil and gas markets are set for another volatile week of trading after Israel began its long-anticipated ground invasion of Gaza.Most Read from BloombergIsrael Latest: Biden, Netanyahu Plan to Talk Within HoursCanada Plans College Crackdown Amid Foreign Student TroublesGM Hit With More Strikes While Stellantis Reaches Deal With UAWIsrael Warns of ‘Long’ War as Invasion of Gaza Strip BeginsHow This Israel-Hamas Conflict Is Like Nothing That’s Happened BeforeThe biggest risk to crud