News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
22
o
Bekaa
19
o
Keserwan
22
o
Metn
22
o
Mount Lebanon
23
o
North
22
o
South
23
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Tareeq
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
22
o
Bekaa
19
o
Keserwan
22
o
Metn
22
o
Mount Lebanon
23
o
North
22
o
South
23
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
The Al-Aqsa Flood operation: Impact on oil and gas prices
News Bulletin Reports
2023-10-17 | 10:07
High views
Share
Share
3
min
The Al-Aqsa Flood operation: Impact on oil and gas prices
Whenever there is tension or a war anywhere in the world, all eyes turn to oil and gas prices.
And what if the "heart of the event" is happening in the Middle East, which holds around a third of the gas reserves and is responsible for about a third of global oil exports?
The Al-Aqsa Flood operations between Hamas and Israel have added to the turmoil and uncertainties in the markets.
Gas prices in Europe have risen by more than 30 percent in the past week and a half, and one of the main reasons is the closure of the Tamar field in Israel.
This field does not just secure about half of Israel's production; it also sends about a third of its output to Egypt and, from there, to Turkey and Europe.
This one-third has dropped by 20 percent due to the Tamar shutdown, according to Bloomberg. Exports to Europe are now at risk, especially as the Leviathan field, the other main source, might also be closed.
This comes at a time when the "old continent" is still searching for alternatives to cheap Russian gas (which it lost access to after the Russian-Ukrainian war) on the verge of winter.
Regarding oil, the price per barrel has risen to about $4. However, according to analysts, this $4 can quickly turn into $40 if the war escalates, especially if it involves Iran. Why?
Firstly, Tehran controls the Strait of Hormuz, through which approximately 20 percent of the world's oil needs pass alone, and any war may push Iran to close the strait.
Secondly, if the United States decides to tighten sanctions on Tehran due to the tensions, this means Iran's oil exports will decrease, leading to less supply and higher prices.
This is without forgetting that OPEC plus countries, including Saudi Arabia and Russia, are determined to maintain the decision to reduce their oil production.
It is in their interest to maintain high prices to secure more revenue. This decision seems to be holding, according to the Russian president.
News Bulletin Reports
Middle East News
Al-Aqsa Flood
Oil
Gas
Prices
Middle East
Tamar Field
Leviathan Field
Russia
Iran
Strait of Hormuz
US
Sanctions
Next
Complex Diplomacy: Biden's Visit to Israel Amid Regional Tensions
American Families Evacuate from Israel to the United States via Cyprus
Previous
Related Articles
d-none hideMe
0
World News
2024-05-17
UK imposes sanctions over Russia-North Korea ‘arms-for-oil’ trade
World News
2024-05-17
UK imposes sanctions over Russia-North Korea ‘arms-for-oil’ trade
0
World News
2024-04-27
Kremlin: Russia seeks ways to overcome European sanctions on liquefied natural gas operations
World News
2024-04-27
Kremlin: Russia seeks ways to overcome European sanctions on liquefied natural gas operations
0
News Bulletin Reports
2024-04-21
Challenges in US-Iran Relations: New Sanctions on Iran's Oil Sector
News Bulletin Reports
2024-04-21
Challenges in US-Iran Relations: New Sanctions on Iran's Oil Sector
0
World News
2024-04-18
G7 finance leaders vow cooperation on Iran sanctions, frozen Russian assets
World News
2024-04-18
G7 finance leaders vow cooperation on Iran sanctions, frozen Russian assets
Recommended For You
d-none hideMe
0
News Bulletin Reports
12:40
Saudi-US negotiations: Can a strategic agreement pave the way for Israeli-Saudi normalization?
News Bulletin Reports
12:40
Saudi-US negotiations: Can a strategic agreement pave the way for Israeli-Saudi normalization?
0
News Bulletin Reports
12:35
Netanyahu vs. Gantz: Political showdown in Israel's war cabinet
News Bulletin Reports
12:35
Netanyahu vs. Gantz: Political showdown in Israel's war cabinet
0
News Bulletin Reports
12:30
'Gambit' of the sea: Inside Lebanon's illegal migration networks
News Bulletin Reports
12:30
'Gambit' of the sea: Inside Lebanon's illegal migration networks
0
News Bulletin Reports
2024-05-18
New aerial strategy: Hezbollah introduces advanced drone tactics against Israeli targets
News Bulletin Reports
2024-05-18
New aerial strategy: Hezbollah introduces advanced drone tactics against Israeli targets
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Middle East News
2024-05-15
Egypt receives $14 billion from UAE for second installment of Ras al-Hikma deal
Middle East News
2024-05-15
Egypt receives $14 billion from UAE for second installment of Ras al-Hikma deal
0
Lebanon Economy
2024-01-05
Lebanon's economic heads set new course for transportation allowances
Lebanon Economy
2024-01-05
Lebanon's economic heads set new course for transportation allowances
0
Lebanon News
2023-10-16
PM Mikati affirms it is not in anyone's interest to open a southern front in Lebanon
Lebanon News
2023-10-16
PM Mikati affirms it is not in anyone's interest to open a southern front in Lebanon
0
Variety and Tech
2023-08-10
Reddit’s menswear hub is the latest casualty of its battle with moderators
Variety and Tech
2023-08-10
Reddit’s menswear hub is the latest casualty of its battle with moderators
Videos
d-none hideMe
0
Lebanon News
2024-05-14
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
Lebanon News
2024-05-14
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
0
Lebanon News
2024-04-30
University Students Organize Solidarity Protest for Palestine (VIDEO)
Lebanon News
2024-04-30
University Students Organize Solidarity Protest for Palestine (VIDEO)
0
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
0
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
0
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
0
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
Middle East News
11:02
Iranian Official to Reuters: President Raisi and Foreign Minister's lives in danger following helicopter accident
Middle East News
11:02
Iranian Official to Reuters: President Raisi and Foreign Minister's lives in danger following helicopter accident
2
Middle East News
14:38
Update: Iranian Red Crescent contradicts government media on President Raisi's helicopter wreckage
Middle East News
14:38
Update: Iranian Red Crescent contradicts government media on President Raisi's helicopter wreckage
3
Lebanon News
15:12
Lebanon expresses concern over Iranian president's helicopter accident: MoFA
Lebanon News
15:12
Lebanon expresses concern over Iranian president's helicopter accident: MoFA
4
Middle East News
12:05
Iranian affairs researcher tells Al-Hadath: Israeli bases near Raisi's emergency landing site
Middle East News
12:05
Iranian affairs researcher tells Al-Hadath: Israeli bases near Raisi's emergency landing site
5
Middle East News
15:46
Precise location of President Raisi's helicopter determined, reports IRGC
Middle East News
15:46
Precise location of President Raisi's helicopter determined, reports IRGC
6
Middle East News
09:02
Helicopter in Iranian President's convoy encounters accident
Middle East News
09:02
Helicopter in Iranian President's convoy encounters accident
7
World News
14:54
Here are some reactions to the crash of Iran's president's helicopter: Reuters
World News
14:54
Here are some reactions to the crash of Iran's president's helicopter: Reuters
8
Lebanon News
05:06
Chehayeb to LBCI: Lebanon is "in the waiting room," any president would be better for the current situation
Lebanon News
05:06
Chehayeb to LBCI: Lebanon is "in the waiting room," any president would be better for the current situation
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More