NewsEscalation in the Middle East: Hamas and Hezbollah leaders killed

Escalation in the Middle East: Hamas and Hezbollah leaders killed

Oil prices reacted to the escalation of the situation in the Middle East, illustrative photo
Oil prices reacted to the escalation of the situation in the Middle East, illustrative photo
Images source: © Getty Images | Simon Dawson
ed. LOS

31 July 2024 09:28

The leader of Hamas has been killed in Tehran, according to the Iranian Revolutionary Guard Corps. The Palestinian organization reported that its leader died as a result of a "Zionist" attack. Reuters noted that the escalation in the Middle East has led to an increase in oil prices.

The situation in the Middle East is escalating. The Iranian Revolutionary Guard Corps reported that Hamas leader Ismail Haniyeh was murdered in the country's capital, Tehran. The Palestinian organization confirmed that its leader died as a result of a "Zionist" attack.

This is not the end. On Saturday (July 27) at 3:00 PM EST, a rocket attack was carried out from Lebanon on the Golan Heights, a disputed region under Israeli control. The Hezbollah organization was accused of this, although it did not claim responsibility.

As announced, Tel Aviv retaliated. Fuad Shukr, the chief military commander of Hezbollah, was killed in an airstrike on Beirut, according to the Israeli army. In a statement, it was reported that the fighter was responsible, among other things, for the advanced weapons programs of the Iran-supported group. Oil prices reacted.

Israel's retaliation. Oil prices shift

The Middle Eastern crisis also affects Poland, as it influences oil prices, among other things. As Reuters notes, these prices have risen on global markets despite concerns about demand in China. And this comes after seven weeks of declines.

Brent crude oil futures rose by 39 cents, or 0.5%, to $79.02 per barrel, while the more active October contract amounted to $78.54, an increase of 47 cents," the agency writes.

Brent crude oil prices in the last three months
Brent crude oil prices in the last three months© Stooq.pl | Stooq.pl

Reuters adds that US West Texas Intermediate crude oil futures rose by 52 cents, or 0.7%, to $75.25 per barrel.

Israel's longest war since 1948

The situation in the Middle East has been tense since October 7 last year, when a terrorist attack on Israel was carried out by the Palestinian organization Hamas. The immediate consequence is the war in the Gaza Strip, which, among other things, disrupts international trade through the Red Sea.

Talks are underway on a ceasefire brokered by the US, Egypt, and Qatar, but both sides have yet to reach an agreement, resulting in the continued deaths of civilians. The fighting continues not only in the Gaza Strip.

Marek Matusiak from the Centre for Eastern Studies notes that there is a lack of support among Israelis for opening another front. The United States also does not want a major war in the Middle East.

The coordinator of the "Israel-Europe" project at the OSW cited statistics showing that since the beginning of the war in the Gaza Strip in October, there have been more than 7,000 attacks from both sides of the Lebanese-Israeli border, with the vast majority of the attacks coming from Israel toward Lebanon and Hezbollah.

There are many indications that escalation may occur, but there are many restrictions and contraindications on the Israeli side. Some response from Israel will probably happen, but whether it will be a major war is hard to say, Matusiak said in an interview with PAP.

However, the expert noted that Israel has been waging war in the Gaza Strip since October, and this is the longest war in its history since 1948. This causes the exhaustion of units and depletion of ammunition, and a significant portion of society would like this war to end.

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