Israel Says Iran Is Hacking Private Security Cameras
Iran is tapping into private security cameras in Israel to gather real-time intelligence about its adversary, exposing a recurrent problem with the devices that has emerged in other global conflicts. Bloomberg's Michael Shepard reports. (Source: Bloomberg)
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Yahoo
an hour ago
- Yahoo
The Decline of Oil Power in Middle East Geopolitics
Despite expectations, the recent geopolitical turbulence in the Middle East—especially the events of October 7, 2023, and the escalation between Israel and Iran—did not deliver a severe blow to global energy markets. Compared to past regional crises or major global shocks like the Russia–Ukraine war, the impact was surprisingly muted. This apparent inability of oil-rich Middle Eastern nations to wield their petroleum power as a political weapon may mark the start of a deeper shift in global dynamics—one that emboldens Western-aligned states to more confidently pursue political and economic transformation in the region. For decades, oil served as the cornerstone of power for Middle Eastern rulers—a strategic lever to secure both domestic control and international backing. But as its political weight diminishes on the global stage, the fading support from major world powers may compel these leaders to reconsider their grip on authority. In response, they might shift focus inward, embracing reforms to strengthen their political and economic governance—not by oil wealth alone, but through more sustainable, accountable leadership. Since the 1970s, oil wealth has been the backbone of Middle Eastern states' power, shaping both their economies and political influence. Leveraging their pivotal role in OPEC and their ability to sway the global energy balance, these nations gained undeniable leverage in international affairs. Strategic partnerships with major oil corporations—spanning upstream operations to global trade—opened direct channels to the world's most powerful governments. Fueled by resource-driven wealth, many regional rulers modernized their states, entrenched authoritarian rule, and secured foreign backing—even as their regimes often stood in stark contrast to Western ideals like democracy and human most Middle Eastern oil-exporting nations, petroleum revenues account for over 70% of government income and roughly a third of GDP—with countries like Iraq and Kuwait even surpassing these levels. Despite political shifts in some states, such as Iraq's regime change, the region's governments continue to rely heavily on the oil sector as a cornerstone of economic stability and a tool for maintaining authority and influence across their territories. The political use of oil can be traced back to 1960, when Middle Eastern oil-rich states joined forces with Venezuela to establish the Organization of the Petroleum Exporting Countries (OPEC). However, the first major deployment of oil as a political weapon occurred during the 1973 Arab-Israeli War, when Arab countries imposed an oil embargo that triggered a historic energy crisis and skyrocketed oil prices from around USD 3 to nearly USD 12 per barrel, quadrupling in just five months. The second major shock came in 1979 with the Iranian Revolution, which slashed Iranian oil exports and sent global prices soaring again, effectively doubling and shaking international markets. Just a year later, the Iraq–Iran War broke out in 1980, further escalating fears of regional supply disruptions and pushing prices up to approximately USD 40 per barrel by early that year. A decade later, in 1990, Iraq's invasion of Kuwait—another oil-rich Persian Gulf state—drove prices from USD 17 to USD 36 per barrel. The situation prompted Western nations to release strategic petroleum reserves to mitigate further spikes. The 2003 U.S.-led invasion of Iraq caused immediate market volatility and long-term uncertainty. This geopolitical instability pushed oil prices from the USD 26–30 range in the early 2000s to over USD 31 in 2003, continuing a sharp upward trend that reached USD 66 by 2006. Unlike most global economic crises, such as the 2008–2009 financial meltdown—which depressed oil demand and caused prices to fall—Middle Eastern conflicts have historically triggered price surges. The next major spike occurred in 2011 during the Arab Spring. The unrest pushed prices from around USD 90 at the end of 2010 to USD 120 in early 2011. Libya's civil war disrupted oil flows to Europe, and fears over the security of the Suez Canal further heightened global supply anxieties. Another shockwave hit in 2019 when a drone strike targeted Saudi Aramco's Abqaiq and Khurais facilities, knocking out 5.7 million barrels per day—about 5% of global supply. This event caused oil prices to surge by 19.5% in a single day, jumping from USD 60 to USD 72—the largest single-day percentage increase since the 1991 Gulf War. A rare non-Middle Eastern event followed in 2022 when Russia invaded Ukraine. Oil prices surged to over USD 120 per barrel in March, marking a 15% increase from pre-war levels and underlining the global market's sensitivity to major geopolitical disruptions. However, the reaction to more recent Middle Eastern conflicts after 2023—mostly involving the so-called 'resistance axis'—has been substantially muted. On October 7, 2023, Hamas launched a surprise attack on Israel. Initially, prices rose from around USD 80 to USD 90 per barrel within a week, but the upward trend quickly reversed. By the third week, prices had dropped to USD 74 per barrel. Although the conflict zone wasn't central to global oil production or transport, concerns about potential escalations involving Iran, Lebanon, or Iraqi factions did raise alarms—but these were short-lived, and the market stabilized quickly. A similar trend was observed following Israel's strike on Iran: oil prices rose modestly—just 7% in the first week—before declining in the second. This subdued reaction came despite Iran's status as the world's fourth-largest holder of oil reserves, a leading oil producer, the second-largest holder of natural gas reserves, and one of the top five gas producers globally. Moreover, Iran's critical geopolitical position—adjacent to the Strait of Hormuz, the world's most vital oil transit chokepoint—adds weight to the surprising resilience of the global energy market. Even after the U.S. attacked Iranian nuclear sites and Iran retaliated, the market absorbed the shock swiftly, with prices returning to pre-conflict levels within hours. These recent responses suggest a shift in the global energy market's sensitivity to Middle Eastern tensions—possibly reflecting changes in global supply diversity, strategic reserves, and the political recalibration of major energy consumers and producers. While Middle Eastern conflicts have traditionally triggered sharp and prolonged oil price shocks, the market's response to recent regional crises reflects a notable shift—both in the scale of price increases and the duration of their impact. Even when a major historical oil exporter like Iran is directly involved, the market has shown a remarkable degree of resilience and short-term volatility rather than sustained disruption. Since 2001, the United States has significantly reduced its dependence on Middle Eastern oil, while Europe has actively diversified its energy sources—particularly in response to Russia's gas leverage and the fallout of the Russia–Ukraine war. As a result, geopolitical tensions in the Middle East today tend to provoke far milder reactions in the global oil market, especially when Western-aligned oil exporters remain unaffected. This shift was evident when comparing the market's sharp reaction to the 2019 attack on Saudi Aramco to its much more restrained response to the 2023 Hamas–Israel conflict and the Israeli strike on Iran. These patterns suggest that the global energy market is now more tightly managed and stabilized by major Western-aligned producers, chiefly Saudi Arabia. When Saudi Arabia—the de facto leader of OPEC and OPEC+—is not directly involved or its infrastructure is not at risk, the market remains confident in the continuity of supply. However, any threat to the Kingdom's facilities still triggers immediate and emotionally charged market responses. This not only highlights the success of Western strategies to diversify their energy dependencies but also signals the emergence of a new era in oil market governance—one dominated by OPEC+ leadership and strategic stability mechanisms. Consequently, future regional conflicts in the Middle East may increasingly be analyzed apart from oil price shocks. This decoupling could give the U.S. and EU greater flexibility in shaping their political responses and re-evaluating their relationships with Middle Eastern governments, without being constrained by energy security concerns. By Shahriar Sheikhlar for More Top Reads From this article on
News24
an hour ago
- News24
‘We are not going to stand for this': Trump demands Israel drops ‘witch hunt' case against Netanyahu
Donald Trump demanded that Israel drop its corruption case against Prime Minister Benjamin Netanyahu. Trump hinted that the US would tie the case to US aid to Israel. Netanyahu and his wife Sara are accused of accepting more than $260 000 worth of luxury goods in exchange for political favours. US President Donald Trump on Saturday lashed out at prosecutors in Israel over the corruption trial that Israeli Prime Minister Benjamin Netanyahu has faced, saying Washington, having given billions of dollars worth of aid to Israel, was not going to 'stand for this'. Netanyahu was indicted in 2019 in Israel on charges of bribery, fraud and breach of trust - all of which he denies. The trial began in 2020 and involves three criminal cases. 'It is INSANITY doing what the out-of-control prosecutors are doing to Bibi Netanyahu,' Trump said in a Truth Social post, adding that the judicial process was going to interfere with Netanyahu's ability to conduct talks with Palestinian militants Hamas, and Iran. Trump's second post over the course of a few days defending Netanyahu and calling for the cancellation of the trial went a step further to tie Israel's legal action to US aid. 'The United States of America spends Billions of Dollar a year, far more than on any other Nation, protecting and supporting Israel. We are not going to stand for this,' Trump said. READ | Trump demands Israel pardons 'great hero' Netanyahu, or abandons corruption case against him Netanyahu 'right now' was in the process of negotiating a deal with Hamas, Trump said, without giving further details. On Friday, the Republican president told reporters that he believed a ceasefire is close. Various sources/AFP Hamas has said it is willing to free remaining hostages in Gaza under any deal to end the war, while Israel says it can only end if Hamas is disarmed and dismantled. Hamas refuses to lay down its arms. Interest in resolving the Gaza conflict has heightened in the wake of the US and Israeli bombing of Iran's nuclear facilities. A ceasefire to the 12-day Israel-Iran conflict went into effect early this week. AFP reported that an Israeli court on Friday rejected Netanyahu's request to postpone giving testimony in his corruption trial, ruling that he had not provided adequate justification for his request. In one case, Netanyahu and his wife Sara are accused of accepting more than $260 000 worth of luxury goods such as cigars, jewellery and champagne from billionaires in exchange for political favours. In two other cases, Netanyahu is accused of attempting to negotiate more favourable coverage from two Israeli media outlets. AFP Netanyahu has denied any wrongdoing and has thanked Trump for his support in Israel's war with Iran, which saw a ceasefire agreement earlier this week. His lawyer had asked the court to excuse the leader from hearings over the next two weeks, saying he needs to concentrate on 'security issues'. Trump on Wednesday sprung to Netanyahu's defence, describing the case against him as a 'witch hunt'. On Saturday, he described Netanyahu as a 'War Hero' and said the case would distract the prime minister from negotiations with Iran and with Hamas, the Gaza-based Palestinian armed group that Israel is at war with. 'This travesty of 'Justice' will interfere with both Iran and Hamas negotiations,' said Trump, although it was unclear what negotiations he was referring to with regard to Iran. Yair Palti/Anadolu via Getty Images The US leader also likened Netanyahu's legal troubles to his own before he took office for his second term. 'It is a POLITICAL WITCH HUNT, very similar to the Witch Hunt that I was forced to endure,' said Trump. The Republican was convicted on 34 counts of falsifying business records in May 2024 in a case related to hush money payments to a porn star. Trump also faced two federal cases, one related to his alleged efforts to overturn the results of the 2020 presidential election, which he lost to Democrat Joe Biden.
CNN
2 hours ago
- CNN
Israeli forces kill 15-year-old Palestinian boy after settlers attack West Bank towns, officials say
Israeli forces shot dead a Palestinian teenager in the West Bank on Wednesday, Palestinian health authorities said, as settler violence against Palestinians surged in the occupied territory. The military shot 15-year-old Rayan Tamer Hawshiya in the neck, the Ministry of Health in Ramallah said, after troops raided Al Yamoun, near Jenin. Residents in the northern town reported 'heavy Israeli gunfire,' according to the minstry. The Israeli military said that 'terrorists hurled explosive devices at IDF forces' in Al Yamoun on Wednesday, adding that no IDF injuries were reported. 'Afterward, the forces identified terrorists approaching them while holding additional explosives,' the military told CNN. 'The forces responded with fire, and hits were identified.' Separately, a 66-year-old Palestinian woman died from injuries after Israeli police shot her in the head in occupied East Jerusalem, according to local media reports. Zahia Joudeh al-Obeidi 'succumbed to her wounds' after Israeli police stormed Shuafat refugee camp, Palestinian news agency WAFA reported. Israeli police said they launched an investigation into the circumstances of the death of an 'East Jerusalem resident,' adding that the resident was 'pronounced dead' by medical officials upon arrival at Shuafat checkpoint. The killings came on the heels of a spate of attacks in the West Bank town of Kafr Malik, where Israeli settlers set fire to Palestinian homes and vehicles in what one Israeli opposition politician called a 'violent Jewish pogrom.' Several people were killed and wounded, according to Palestinian and Israeli authorities. The details of the deaths in Kafr Malik are unclear. The Palestinian foreign ministry said the settlers opened fire on Palestinian residents, while Israeli authorities said there was a firefight between Palestinian gunmen and Israeli security forces. At least three Palestinians were killed and several were wounded, according to Palestinian officials. The Israeli military said 'several' people were killed in the central town, but did not specify whether they were Palestinian or Israeli. Israel has ramped up military operations in the West Bank, displacing thousands of Palestinians and razing entire communities as it targets what it says are militants operating in the territory. Last year, Israeli Defense Minister Israel Katz said the state 'must deal with the threat (in the West Bank) just as we deal with the terrorist infrastructure in Gaza, including the temporary evacuation of Palestinian residents.' He later warned that the tens of thousands of Palestinians who have fled their West Bank homes would not be allowed to return. Human Rights Watch has accused Israel of inflicting 'massive, deliberate displacement of Palestinian civilians' and making 'much of the territory unlivable' in violation of international law. Israeli settlers have also increased attacks on Palestinian communities and their properties, according to the United Nations' human rights office. Israeli troops or settlers have killed at least 947 Palestinians, among them 200 children, in the West Bank, including East Jerusalem, between October 7, 2023 and June 12, the UN reported on June 20. Between October 7, 2023 and June 26, at least 39 Israeli civilians have been killed in the West Bank, according to Israeli government officials. Israel has occupied the West Bank since seizing the territory from Jordan in 1967. In late May, the Israeli government approved the largest expansion of Jewish settlements in the area in decades. The settlements are considered illegal under international law, In Kafr Malik, social media video geolocated by CNN showed residents panicking as a fire consumed a home and a loud pop rang in the distance. Another video showed a parked car in flames as a resident attempted to extinguish it with a water hose. The IDF said security forces were deployed to the scene after 'dozens of Israeli civilians' had set properties on fire. On arrival, the IDF said, the security forces were met with gunfire and rocks hurled by what it described as 'terrorists' and they returned fire. 'Hits were identified, and it was later reported that there were several individuals injured and fatalities,' the IDF said, adding that five Israelis were arrested. Israeli opposition politician Yair Golan condemned the settler attack, saying: 'What happened this evening in Kafr Malik was a violent Jewish pogrom – dozens of rioters set fire to homes and vehicles, and assaulted Palestinians and security forces.' Shortly after the violence in Kafr Malik, there was another settler attack close to the nearby village of Taybeh, according to the Israeli rights organization B'Tselem, which shared footage of masked men torching a parked car. Three people were injured and three cars were set on fire, it said. A third settler attack took place around Jericho, according to the Palestine Red Crescent Society, which said eight people were injured due to smoke inhalation after a house was set on fire. A UN official warned there has been 'no respite' for Palestinian people in the northern West Bank, where he accused Israel of imposing 'systematic forced displacement' on refugee communities in 'violation of international law.' 'Out of the spotlight of the regional escalation, camps in the northern West Bank have faced ongoing destruction, with dozens of buildings demolished in the last twelve days,' Roland Friedrich, the director of affairs for UNRWA, the UN agency for Palestine refugees in the West Bank and East Jerusalem, posted on X on Wednesday. 'Even now, Israeli security forces are continuing to demolish homes and buildings in Jenin, Tulkarm, and Nur Shams camps. Stripped of basic dignity, many families have not even been able to save their belongings ahead of anticipated bulldozing.' CNN's Tamar Michaelis and Billy Stockwell contributed reporting.
