US Markets
Wednesday, October 11th, 2023 2:00 pm EDT
Key Points
- Fuel Shortage in Gaza Power Plant: The Gaza Strip’s only operational power plant has depleted its fuel supply due to a prolonged “complete siege” imposed by Israel. Israel has ceased sending supplies to the region, affecting over 2 million inhabitants.
- Escalating Hostilities and Military Response: The article reports a rising death toll in both Israel and the Gaza Strip as missiles continue to be fired, and hostilities enter the fifth day. The Israeli military is amassing troops near the Gaza Strip in response to a multi-pronged attack by the Palestinian militant group Hamas, leading to an intensification of the conflict.
The Gaza Strip’s sole operational power plant has exhausted its fuel supply due to an ongoing “complete siege” imposed by Israel, which has ceased sending supplies to the region, home to more than 2 million people. In the midst of escalating hostilities, the death toll is mounting in both Israel and the Gaza Strip as missiles continue to rain down. The Israeli military has been amassing troops near the Gaza Strip in response to a multi-pronged attack launched by the Palestinian militant group Hamas over the weekend.
The United States, with Secretary of State Antony Blinken scheduled to visit Israel, is in discussions with Egypt regarding a potential humanitarian corridor from the Gaza Strip. The United Nations has expressed concerns about civilian casualties resulting from the conflict, including a Hamas attack on a music festival.
The crisis in Israel has raised concerns in the financial sector, particularly in the oil markets. A senior Russian official has warned that the Israeli crisis could impact oil prices, as political instability in the Middle East, a major hub of global oil production, often leads to fluctuations in crude oil prices.
For full original article on CNBC, please click here: https://www.cnbc.com/2023/10/11/live-updates-latest-news-on-gaza-and-israel-hamas-conflict.html
