“Iran and its proxies could attack Israel within 24 hours.”
On the 12th (local time), Fox News in the United States cited a Middle Eastern source and mentioned the possibility of Iran attacking Israel. In addition, the New York Times (NYT) and Reuters reported that Iran could attack Israel within this week.
The Israeli military immediately raised its alert level to the highest level. The United States decided to dispatch Secretary of State Tony Blinken to the Middle East and deploy the nuclear-powered aircraft carrier Abraham Lincoln, equipped with the latest stealth fighter, the F-35C, to the Middle East.
As reports emerged that a full-scale war between Iran and Israel was imminent, the price of West Texas Intermediate (WTI) crude oil for September delivery on the New York Mercantile Exchange closed at $80.06. It had been at $72.94 on the 5th, but rose 9.76% in just one week. Domestic import prices also rose for two consecutive months in June and July due to the rise in international oil prices.
● Israel on highest alert for Iranian attack
According to Fox News, Iran, the Lebanese Shiite militant group Hezbollah, and the Yemeni Shiite Houthis are weighing the possibility of attacking Israel within the next 24 hours in retaliation for the killing of Ismail Haniya, the political leader of the Palestinian militant group Hamas, in a suspected Israeli attack in Tehran on March 31. “Israel is predicting an attack will occur within a few days. We share that concern,” White House National Security Adviser John Kirby said on the 12th.
According to the Times of Israel and others, Israeli Army Chief of Staff Herzi Halevi approved a “multi-front battle plan” on the same day in preparation for attacks from Iran, Hezbollah, and others. Israeli Army spokesman Daniel Hagari also said, “We are on the highest alert for both offense and defense, including increasing fighter jet patrols over Lebanon, Hezbollah’s stronghold.” On that day, the Israeli military also conducted an airstrike in the Wadiyeh area of southern Lebanon and destroyed Hezbollah’s rocket launchers.
The United States plans to dispatch aircraft carriers and submarines to the Middle East to prepare for an attack by Iran. U.S. Defense Secretary Lloyd Austin ordered the deployment of the guided missile submarine USS Georgia to the Middle East on the 11th, and also ordered the deployment of the Lincoln to be expedited. The Lincoln, currently near the South China Sea, will take at least a week to reach the Middle East, Reuters reported.
The American political media outlet Axios reported that Secretary Blinken will visit Israel, Qatar, and Egypt starting on the 13th. Qatar and Egypt have been mediating ceasefire negotiations between Israel and Hamas.
The international community also came together to dissuade Iran from attacking. On the 12th, the five Western countries of the United States, the United Kingdom, France, Germany, and Italy issued a joint statement urging them to “stop threatening attacks on Israel.” British Prime Minister Keir Starmer, German Chancellor Olaf Scholz, and Cardinal Pierre Perolin, the Vatican’s No. 2, each called Iranian President Masoud Pezeshkian to dissuade Iran from attacking Israel.
However, President Pezezkian dismissed the remark to Chancellor Scholz, saying, “We have the right to respond to the aggressor (Israel). We will not succumb to pressure, sanctions, or bullying.” This is interpreted to mean that retaliation against Israel is inevitable in one way or another.
● Soaring oil prices, rising price instability
As the Middle East is gathering steam, international oil prices are also soaring. On the 12th, West Texas Intermediate (WTI) crude oil for September delivery on the New York Mercantile Exchange closed at $80.06 per barrel, up $3.22 (4.2%) from the previous trading day. On the same day, Brent crude oil for October delivery on the European ICE Futures Exchange also closed at $82.30, up $2.64 (3.3%) from the previous trading day.
According to the Bank of Korea on the 13th, the July import price index, which is sensitive to oil price fluctuations, rose 0.4% from the previous month. It is the second consecutive month of increase following June (0.6%). The import price index has been rising this year except for May (-1.3%). Since import prices usually affect consumer prices with a certain time lag, it can act as an upward pressure on domestic prices.
Reporter Lee Ki-wook [email protected]
Reporter Shin A-hyung [email protected]
2024-08-13 09:11:47