Israeli Prime Minister Benjamin Netanyahu addressed the UN General Assembly in New York this morning, stating that Israel has 'no choice' but to fight back against Iran-backed Hezbollah. His remarks come as tensions rise between Israeli officials and the Biden-Harris administration over the inaction this week of instituting a 21-day ceasefire-fire while Israel Defense Forces gear up for a potential ground invasion of Lebanon.
Then an FT report on Thursday joined the anonymous-source-citing oil manipulation game with the news that the Saudis were ready to ditch the unofficial price target of $100 a barrel for crude. Also, recent headlines surrounding a possible ceasefire in the Middle East have pressured oil prices. We must ask what exactly 'the powers that be' are afraid of Maybe Goldman analyst Lindsay Matcham's note to clients this morning shows precisely what 'the powers that be' are afraid of.
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