Oil surges over $90 as UAE cuts diplomatic relations with Israel

UAE Halts Diplomatic Coordination with Israel: Tensions Soar as Oil Prices Surge

As Israel’s diplomatic relations with key Gulf nations like the UAE hang in the balance, the current state of affairs starkly contrasts with the optimism once fostered by the Abraham Accords. Recent developments have only served to exacerbate tensions in the region. Confirming reports from both international and Israeli media outlets, the UAE’s decision to halt all coordination on humanitarian aid with Israel marks a significant escalation in the situation.

The tragic death of seven World Central Kitchen humanitarian workers in Gaza has been a catalyst for these events. The UAE’s suspension of diplomatic coordination with Israel following this incident has reverberated through diplomatic circles, underscoring the gravity of the situation. Simultaneously, Israel is on high alert, intensifying security measures at its embassies worldwide. This heightened state of security comes in response to a perceived threat from Iran, stemming from an Israeli attack on the Iranian embassy in Damascus.

These unfolding events have had a direct impact on global markets, particularly the oil industry, with Brent crude prices surging above $90 for the first time since October. The looming specter of Iranian retaliation has prompted Israel’s military to implement precautionary measures, including a halt on home leave for combat troops.

Amidst these developments, the Israeli military has emphasized its readiness for war, with deployments under constant review. Reports indicate growing frustration from President Biden towards Prime Minister Netanyahu over the Gaza incident, which Israel has acknowledged as a “grave mistake.”

Despite expressions of concern from the White House, there are indications that President Biden has issued a stern ultimatum to Netanyahu, calling for an immediate ceasefire. Central to Biden’s stance is the imperative to protect innocent civilians and address the deteriorating humanitarian situation in Gaza. This stance highlights the widening schism within the Democratic base regarding US policy towards Gaza.

In this tense geopolitical climate, the call for a ceasefire represents a pivotal moment, with the Biden administration taking a firm stand against attacks on humanitarian workers and the worsening humanitarian crisis. The situation underscores the fragile nature of diplomatic relations in the region and the pressing need for swift, decisive action to de-escalate tensions and ensure the safety and well-being of all involved.