Israeli credit rating poised to deteriorate, oil prices soar

By Al Mayadeen English
Source: Agencies
20 Oct 2023 09:03

Geopolitical tensions have gripped the entire region as Israeli occupation forces persist with their genocidal aggression against Gaza.

Israeli flag lowered to half mast, occupied Al-Quds, May 2, 2021 (AP)

Moody's Analytics has placed "Israel’s" A1 foreign-currency and local-currency credit ratings on review, the financial services company announced in a statement.

Moody’s warning follows a similar move by Fitch Ratings, which placed "Israel's" credit score on a negative watch earlier this week.

Furthermore, oil prices have steadily increased for the second week due to the ongoing tensions in West Asia. The global benchmark has risen to more than $93/barrel as of today.

Meanwhile, "Israel's" leading financial media, The Marker, posted on X: "'We entered the war in a recession, and trade is currently at zero. The feeling is that everyone is in an existential war:' The second week of the war is about to end, and the second week, trade in "Israel" stands at zero, with many trying to keep their heads above water, fearing the future - and still do not know who will compensate them or when."

״נכנסנו במיתון למלחמה, יש כרגע אפס מסחר. התחושה היא שכולם במלחמה קיומית": השבוע השני למלחמה עומד להיגמר, וזה שבוע שני שאין כמעט מסחר בישראל, ורבים מנסים להישאר עם הראש מעל המים, חוששים מהעתיד לבוא - ועדיין לא יודעים מי יפצה אותם, ומתי https://t.co/VM99JpKHRs
— TheMarker (@TheMarker) October 20, 2023

Geopolitical tensions have gripped the entire region as Israeli occupation forces persist with their genocidal aggression against Gaza.

Skirmishes between Israeli forces and the Lebanese Resistance have been ongoing across the Lebanese-Palestinian border. The US has sent its aircraft carrier to the Western side of the Mediterranean. Meanwhile, Iran has threatened to intervene if Israeli aggression persists. Iraqi and Yemeni Resistance factions have targeted US military sites in the region.

Masses of Arab people have been protesting against Israeli aggression in front of Israeli and American embassies and consulates. Egypt and Jordan fear a second Palestinian exodus (akin to the 1948 Nakba) which would forcibly displace Palestinians from Gaza and the West Bank respectively.

Abu Obeida, the military spokesperson of Hamas' al-Qassam Brigades, issued another warning to the Israeli occupation on Thursday, promising a significant, "painful and harsh" retaliation as payback for the crimes committed against the Palestinian people and the desecration of al-Aqsa Mosque.

He emphasized that the Resistance is in good shape and that its leadership knows how and when to strike the enemy.

Abu Obeida called on the Ummah to defend al-Aqsa Mosque against its desecration, adding that the Israeli occupation military is currently in its worst-ever state.

He called on the masses, outside of Palestine, to march together toward Palestinian borders and confront the occupation's expansionist project.

In his address, Abu Obeida reaffirmed that the Palestinian Resistance in Gaza is in excellent condition and is prepared for a long battle against the occupier.

Additionally, Israeli Security Minister Yoav Gallant warned that a ground invasion of Gaza will start soon.

"You see Gaza now from a distance, you will soon see it from inside. The command will come," the Minister said.