{"id":65911,"date":"2023-10-10T05:48:20","date_gmt":"2023-10-10T10:48:20","guid":{"rendered":"https:\/\/olduvai.ca\/?p=65911"},"modified":"2023-10-10T05:48:20","modified_gmt":"2023-10-10T10:48:20","slug":"the-new-global-oil-market-order-hangs-in-the-balance-after-hamas-attacks-israel","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=65911","title":{"rendered":"The New Global Oil Market Order Hangs In The Balance After Hamas Attacks Israel"},"content":{"rendered":"<h3><a href=\"https:\/\/oilprice.com\/Geopolitics\/Middle-East\/The-New-Global-Oil-Market-Order-Hangs-In-The-Balance-After-Hamas-Attacks-Israel.html\">The New Global Oil Market Order Hangs In The Balance After Hamas Attacks Israel<\/a><\/h3>\n<div id=\"key_points\" class=\"wysiwyg clear\">\n<ul>\n<li><strong>Palestinian political and military organisation Hamas launched coordinated multi-pronged attacks by land, sea, and air against Israel last weekend.<\/strong><\/li>\n<li><strong>The potential for the Hamas attacks on Israel to suck in other Arab states into the conflict, and for it to then become another proxy war could have major ramifications for a large number of countries.<\/strong><\/li>\n<li><strong>Soaring oil prices as a result of renewed tensions in the Middle East could lead to economy-crippling levels of inflation in the West.<\/strong><\/li>\n<\/ul>\n<\/div>\n<div class=\"articleImageContainer\"><picture class=\"singleArticle__articleImage\"><source srcset=\"https:\/\/d32r1sh890xpii.cloudfront.net\/article\/420x175\/2023-10-09_f6ugv8l5lh.jpg\" media=\"(max-width: 480px)\" \/><source srcset=\"https:\/\/d32r1sh890xpii.cloudfront.net\/article\/718x300\/2023-10-09_f6ugv8l5lh.jpg\" media=\"(min-width: 480px)\" \/><img class=\"singleArticle__articleImage\" title=\"Missile\" alt=\"Missile\" data-src=\"https:\/\/d32r1sh890xpii.cloudfront.net\/article\/718x300\/2023-10-09_f6ugv8l5lh.jpg\" \/><\/picture><\/div>\n<div id=\"article-content\" class=\"wysiwyg clear\">\n<p>In what turned out to be extraordinary timing, October 3 saw a Western coalition of France\u2019s TotalEnergies and Italy\u2019s Eni, plus Qatar Energy, apply for the second licensing round on oil and gas blocks 8 and 10 in Lebanese waters, while only four days later Palestinian political and military organisation Hamas launched coordinated multi-pronged attacks by land, sea, and air against Israel. Lebanon is a core member of the Iran-dominated Shia Crescent of Power, which both China and Russia have long seen as the foundation stone for their expansion of power across the Middle East as a whole, as analysed in depth in\u00a0<a href=\"https:\/\/www.amazon.co.uk\/dp\/B0C2RRNWNY\" target=\"_blank\" rel=\"noopener\">my new book on the new global oil market order<\/a>. Lebanon\u2019s political and military organisation, Hezbollah \u2013 like its Palestinian counterpart Hamas \u2013 vows Israel\u2019s destruction and praised Hamas for its \u201cheroic operation\u201d against Israel on October 7. Both paramilitary groups receive multi-layered support from Iran\u2019s financial, intelligence, and military networks and each of these support facilities are inextricably linked to China and Russia, as also fully examined in\u00a0<a href=\"https:\/\/www.amazon.co.uk\/dp\/B0C2RRNWNY\" target=\"_blank\" rel=\"noopener\">my new book<\/a>. The potential for the Hamas attacks on Israel to suck in other Arab states into the conflict, and for it to then become another proxy war &#8211; to add to that still raging in Ukraine &#8211; between the U.S. and Russia (and China) appears large&#8230;<\/p>\n<p>\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The New Global Oil Market Order Hangs In The Balance After Hamas Attacks Israel Palestinian political and military organisation Hamas launched coordinated multi-pronged attacks by land, sea, and air against Israel last weekend. The potential for the Hamas attacks on Israel to suck in other Arab states into the conflict, and for it to then [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,5],"tags":[19567,1049,522,5332,1048,13351,26228],"class_list":["post-65911","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-geopolitics","tag-hamas","tag-israel","tag-middle-east","tag-oilprice-com","tag-palestine","tag-price-inflation","tag-simon-watkins"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=65911"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65911\/revisions"}],"predecessor-version":[{"id":65912,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65911\/revisions\/65912"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=65911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=65911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=65911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}