Israel to vote on severely restricting UN agency that is a lifeline for Gaza

The repercussions of Israel’s attack on Iran over the weekend were felt in global financial markets on Monday. Oil prices fell in a sign of relief for global supplies after Israel’s retaliatory strike targeted Iranian military sites rather than its energy infrastructure, as feared.

Oil prices had soared after Iran fired nearly 200 missiles at Israel on October 1, part of a series of rapidly escalating attacks between Israel and Iran – and the militant groups it supports – that threatened to bring the Middle East closer together. to a regional war.

Iran is the world’s seventh largest oil producer, but if the conflict in the Middle East spread, it could drag down some of the world’s largest energy producers.

It is unclear how Iran might respond to the weekend Israeli attack, which damaged at least two secret Iranian military bases. A carefully worded statement from the Iranian military on Saturday night appeared to offer some wiggle room for the Islamic Republic to back down from further escalation. He suggested that a ceasefire in the Gaza Strip and Lebanon was more important than any retaliation against Israel.

International mediators renew efforts for ceasefire in Gaza

After collapsing in late summer, international mediators were attempting to revive ceasefire efforts between Israel and Hamas. Israel said it would continue talks on ending the fighting after Mossad agency chief David Barnea returned from a meeting in Qatar with CIA chief David Burns and the Qatari prime minister.