{"id":65574,"date":"2024-07-31T18:42:47","date_gmt":"2024-07-31T18:42:47","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk"},"modified":"2024-07-31T19:15:43","modified_gmt":"2024-07-31T19:15:43","slug":"oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk","title":{"rendered":"Oil jumps as killing of Hamas leader stokes geopolitical risk"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Oil jumped \u2014 extending an earlier gain \u2014 after Hamas said Israel killed its political leader, stoking tensions in a region that produces around a third of the world\u2019s crude.<\/p>\n

Global benchmark Brent rose to near $80 a barrel after tumbling by 4.5% over the previous three sessions, with West Texas Intermediate around $76. Hamas said Israel killed its political leader, Ismail Haniyeh, in an airstrike in Iran. It followed an earlier attack by Israel on Beirut that killed a senior Hezbollah commander.<\/p>\n

There\u2019s been a tit-for-tat exchange of fire in recent days, with a Hezbollah strike in the Israel-controlled Golan Heights killing 12 children, potentially putting the ongoing cease-fire talks between Israel and Hamas in jeopardy.<\/p>\n

Oil traders have been assessing the risk of an escalation in the conflict and whether it might lead to more attacks on ships traveling through the Red Sea, or affect production and exports, particularly from Iran. Crude prices have tended not to react particularly sharply to new developments in the war \u2014 that\u2019s been going since early October 2023 \u2014 recently.<\/p>\n

The attack \u201cobviously strips away the hopes of cease-fire,\u201d said Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova Pte in Singapore. \u201cSince it happened in Tehran, it\u2019s plausible that it can trigger a wider conflict and we may witness involvement from other countries.\u201d<\/p>\n

Away from the Middle East, the global demand picture remains subdued as a prolonged Chinese economic slowdown continues to weigh on sentiment. Brent is set for a monthly drop of around 8%, the biggest this year, although prices are being supported by OPEC+ supply curbs and expectations the Federal Reserve will start lowering interest rates soon.<\/p>\n

In the US, an industry group said crude inventories fell by 4.5 million barrels last week. If confirmed by official figures later on Wednesday, it would mark the longest streak of declines since January 2022.<\/p>\n

The Fed is widely expected to keep rates on hold when it meets later Wednesday, and traders will look to Chair Jerome Powell\u2019s remarks after for confirmation of bets that they will be cut in September.<\/p>\n

For More News And Analysis About Mozambique Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Oil jumped \u2014 extending an earlier gain \u2014 after Hamas said Israel killed its political leader, stoking tensions in a region that produces around a third of the world\u2019s crude. Global benchmark Brent rose to near $80 a barrel after tumbling by 4.5% over the previous three sessions, with West Texas Intermediate […]<\/p>\n","protected":false},"author":84,"featured_media":65573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[3192,283,309],"class_list":["post-65574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-eritrea","tag-mozambique","tag-tanzania"],"yoast_head":"\nOil jumps as killing of Hamas leader stokes geopolitical risk - Mozambique<\/title>\n<meta name=\"description\" content=\"Oil jumped \u2014 extending an earlier gain \u2014 after Hamas said Israel killed its political leader, stoking tensions in a regi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil jumps as killing of Hamas leader stokes geopolitical risk\" \/>\n<meta property=\"og:description\" content=\"Oil jumped \u2014 extending an earlier gain \u2014 after Hamas said Israel killed its political leader, stoking tensions in a regi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-31T18:42:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-31T19:15:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2024\/07\/sm_1722437019.971942.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"959\" \/>\n\t<meta property=\"og:image:height\" content=\"639\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil jumps as killing of Hamas leader stokes geopolitical risk\",\"datePublished\":\"2024-07-31T18:42:47+00:00\",\"dateModified\":\"2024-07-31T19:15:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk\"},\"wordCount\":364,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2024\/07\/sm_1722437019.971942.jpg\",\"keywords\":[\"Eritrea\",\"Mozambique\",\"Tanzania\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/oil-jumps-as-killing-of-hamas-leader-stokes-geopolitical-risk\",\"name\":\"Oil jumps as killing of Hamas leader stokes geopolitical risk - 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