Concerns about the fallout from a US strike on Iran have helped to drive oil higher this year, despite expectations of a global glut. American military forces have massed in the Middle East, and the State Department on Monday ordered the evacuation of non-emergency personnel at its embassy in Beirut.“Oil markets are in a holding pattern pending updates on the Iran situation, with a healthy dose of skepticism being placed on any de-escalatory rhetoric,” said Saul Kavonic, senior energy analyst at MST Marquee. The US military build-up has added a risk premium of around $10 per barrel to prices, he said.
The whole world is expecting the resolution of the current tension in the Middle East. NASDAQ and TASE stock exchanges are unsettled, with random rises and falls of 10%.
A Democratic party post-election study says that the support for Israel caused last election loss. The left is mad at Israel to the point that only strong and vocal antisemitic positions will satisfy it. We are back to 1938, when Roosevelt found that antisemitism made it politically onerous to help European Jews. I am more and more convinced that Arthur Koestler was right in that the Holocaust happened because European peoples wanted it. A hundred years later a universal sentiment is converging that Israel (and the Jews) are an unsufferable nuisance.
Pic.: Vienna 1938. Jews publicly humiliated, forced to wash the streets. I could feel a bit of schadenfreude in the fact that the public in the photograph is barely represented today, as half of the younger Viennese are foreigners. They had ruined themselves and are semi-extinguished.
"גַּם כִּי-אֵלֵךְ בְּגֵיא צַלְמָוֶת, לֹא-אִירָא רָע"