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hearing from tata steel, which owns the steelworks in october, it is bad news for the thousands of people who work at that steel facility. we have just been told that tata steel plans to close both remaining blast furnaces at the steelworks and that could come at the cost of 3000 jobs. clearly something which will devastate the local community. stay with us on bbc news for more updates on that story. tata steel says they will close the remaining port talbot blast furnaces at the steelworks with potential loss of up to 3000 jobs. news coming to us from bbc sources, ratherthan jobs. news coming to us from bbc sources, rather than confirmed by tata steel themselves. the unfolding issues around attacks on cargo ships by houthi rebels from yemen, warning from the world trade organization that it could affect developing countries the hardest. today the us has launched a fourth round of air strikes against the rebels, the us military said it targeted missiles that could be int ....
where he signalled that he is prepared, if necessary, to escalate military operations in lebanon, with 80,000 israeli s now displaced from their homes. to the south, the death toll in gaza, stands at 23,000, according to the hamas run health ministry. and so intense is the fighting that several aid agencies have now begun withdrawing medics from the only functioning hospital in central gaza. on his visit to qatar, secretary blinken said washington has an intense focus on preventing this conflict from spreading, and a warning to some members of the israeli government. palestinian civilians must be able to return home as soon as conditions allow. they cannot, they must not, be pressed to leave gaza. we reject the statements by some israeli ministers and lawmakers calling for a resettlement of palestinians outside of gaza. amanda, the american administration very conscious of what is happening. i want to show you a video, president biden hasjust i want to show you a vide ....
through those routes. 0vernight, oil prices dipped, but will it last? for a closer look at the energy markets, let s speak to rebecca babin. she is a senior energy trader at cibc private wealth. great to have you on the programme. how much other concern is this price rise? 50 how much other concern is this price rise? ~ how much other concern is this price rise? ~ , . rise? so i think the concern right now is really rise? so i think the concern right now is really kind rise? so i think the concern right now is really kind of now is really kind of concentrated on the longer shipping time. the market is not pricing in that we actually lose barrels from the market as a result of what is happening in the suez canal, what it is concerned with right now and the reason it has risen 6%, is because the shipping costs associated with travelling around the southern tip of africa to reach its destination as around 15 days of travel time. it increases freight costs. and it h ....
rebecca babin is a senior energy trader at cibc private wealth. she gave me her predictions. i think the concern right now is really concentrated on the longer shipping time. the market is not pricing in that we actually lose barrels from the market as a result of what is happening in the suez canal. what it is concerned with right now and the reason it has risen 6% because the shipping costs associated with travelling around the southern tip of africa to reach its destination adds around 15 days of travel time. it increases freight costs. and it has increased insurance costs. that is what the markets are pricing in and looking at at this point. the market has not entered a panic mode, as we have seen in the past with other geopolitical events, where it starts to pricing supply is lost from the market. right now it is a logistical rerouting what we re seeing, and not kind of that panic and fear that we re going to lose barrels. that obviously can change very rapidly. to ....
i think the concern right now is really kind of concentrated on the longer shipping time. the market is not pricing in that we actually lose barrels from the market as a result of what is happening in the suez canal. what it is concerned with right now and the reason it has risen 6% is because the shipping costs associated with travelling around the southern tip of africa to reach its destination adds around 15 days of travel time. it increases freight costs. and it has increased insurance costs. so that is what the market is pricing and looking at this point. the market has not entered a panic mode, as we ve seen in the past with other geopolitical events, where it starts to price in supply is lost from the market. right now, it is a logistical re routing, what we are seeing, and not kind of that panic and fear that we are going to lose barrels. that obviously can change very rapidly, and we have seen that obviously can change very rapidly. the venezuelan president ....