Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: Five killed in the Israeli bombing of a civilian vehicle on Al-Qassam Street in Khan Younis, south of the Gaza Strip
Hamas confirms that it has no connection to the shooting incident in Rafah and affirms its commitment to the ceasefire agreement
Al Mayadeen's correspondent: Two civilians were killed and four others, including a child and an infant, were injured in an Israeli bombing of a house belonging to the Al-Banna family in the al-Sabra neighborhood, south of Gaza City
Al Mayadeen's correspondent: An Israeli airstrike targets the vicinity of Al-Shifa Medical Complex, west of Gaza City
Al-Qassam: We will postpone the handover of the body of the Israeli captive we found, which was scheduled for today, due to the occupation's violations
Al Mayadeen's correspondent in Gaza: Israeli occupation aircraft launch airstrikes on the city of Rafah in the southern Gaza Strip
Netanyahu's office: At the end of the security consultations, the prime minister instructed the military to launch massive military strikes on the Gaza Strip immediately
President Aoun: We urge the activation of the monitoring committee, the cessation of hostilities, ongoing Israeli violations, attacks
Lebanese President Joseph Aoun to US Envoy Morgan Ortagus: Southerners must be enabled to return to their homes and rebuild
Syrian sources: The Israeli occupation has begun withdrawing from the areas it infiltrated last night in the Quneitra countryside.

Oil prices around the world soar following Operation Al-Aqsa Flood

  • By Al Mayadeen English
  • Source: Agencies
  • 9 Oct 2023 16:52
  • 6 Shares
2 Min Read

Global equity markets experienced a shake ever since the launch, even though energy firms were given a push by higher oil prices, giving them higher profits.

  • x
  • Fire and smoke rise above buildings in Gaza City during an Israeli airstrike on October 8, 2023 (AFP)
    Fire and smoke rise above buildings in Gaza City during an Israeli airstrike on October 8, 2023 (AFP)

The world witnessed oil prices skyrocket on Monday following the launch of Operation Al-Aqsa Flood, with benchmark oil contracts of Brent and WTI soaring over 5% in Asian deals before gradually easing back.

Global equity markets have been experiencing a shake ever since the launch, even though energy firms were given a push by higher oil prices, which in turn gave them higher profits.

Currencies like the dollar, yen, and Swiss franc, in addition to gold, have seen support while benefiting from their status as a haven investment during severe geopolitical turmoil.  

The current events in the region have triggered fear with regard to inflation and spiked prices with central banks trying to soothe interest rate hikes to avoid recessions.

The occupation's economy under the rubble

Related News

'Israel' responsible for hindering captive body recovery: Exclusive

Hamas denies any link to Rafah incident, 'Israel' shatters Gaza truce

For the first time, the Bank of Israel intends to sell foreign exchange and provide dollar liquidity to local lenders after it allowed the shekel to trade freely as part of an unanticipated move to support markets following Operation Al-Aqsa Flood.

Read next: Al-Qassam reveals locally manufactured missile used in operation

According to a statement on Monday, as reported by Bloomberg, as much as $30 billion will be sold, which may extend up to $15 billion through swap mechanisms, with the end goal being to smooth out volatility in the currency's exchange rate and provide the necessary liquidity.

The Shekel plunges 

At the open and after the launch of Hamas' Operation Al-Aqsa Flood, "Israel’s" currency shortly erased losses after plunging as much as 2% and then traded 1.6% weaker at 3.9099 per dollar as of this morning.

The occupation's shekel currency faced big losses this year, according to data by Bloomberg, among 31 major currencies.

As of this morning, the IOF stated that the points of conflict between the IOF and Hamas remain ongoing in seven to eight locations around the Gaza Strip.

Earlier, Al Mayadeen's correspondent reported that the Israeli occupation forces waged brutal and indiscriminate airstrikes on the Gaza Strip using thermobaric weapons, not to mention phosphorus bombs, which are banned under international law.

  • Palestine
  • Operation Al Aqsa Flood
  • Gaza
  • Oil prices

Most Read

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Arab League chief exposes secret US deal shielding 'Israel’s' nukes

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

  • Politics
  • 27 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Delta Air Lines flight lands at Harry Reid International Airport, Wednesday, April 9, 2025, in Las Vegas (AP)
Politics

Nearly 3,800 US flights disrupted amid ongoing government shutdown

FILE - The Amazon logo is pictured at the Amazon Robotic Sorting Fulfillment Center in Madison County, Miss., Aug. 11, 2022. (AP Photo/Rogelio V. Solis, File)
Economy

Amazon to cut 30,000 jobs in largest layoff in company history

Eurofighter Typhoon Spain's Air Force fighter jets fly above the military parade marking 'Día de la Hispanidad', or Hispanic Day, in Madrid, Spain, Sunday, Oct. 12, 2025. (AP)
Politics

UK sells 20 Eurofighter jets to Türkiye in £8bln defense agreement

Smoke billows after drone strikes by the paramilitary Rapid Support Forces (RSF) targeted the northern port in the Red Sea city of Port Sudan, Sudan, May 6, 2025 (AP)
Politics

RSF tighten El Fasher siege as Sudan risks fragmentation: Reuters

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS