"Somalia closes Bab al-Mandab Strait to Israeli shipping", IRNA reports; "The move comes as a direct response to Israel’s recognition of the breakaway region of Somaliland, Yemen Press Agency reported on Wednesday"
Somalia's closure of the Bab al-Mandab Strait to Israeli shipping signals a significant geopolitical escalation, potentially disrupting maritime trade routes and impacting global oil and commodity markets.
Iran’s Supreme Leader Khamenei opposes extending negotiations under current conditions, according to an Iranian parliament national security member
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"Somalia closes Bab al-Mandab Strait to Israeli shipping", IRNA reports; "The move comes as a direct response to Israel’s recognition of the breakaway region of Somaliland, Yemen Press Agency reported on Wednesday"
According to industry sources, SK Hynix (000660 KS) is expected to set a new all-time high operating margin in Q2 on the back of the continuing memory supercycle
IEA's Birol says expect nuclear power to get a "big boost" following Iran war, via CNBC TV
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- "external meddling could lead to countermeasures, such as restricting access to the key maritime route of Bab al-Mandab."
This move could lead to higher shipping costs and uncertainties in the energy sector, affecting pricing in both WTI and gold. Traders should monitor how this impacts broader risk sentiment and currency flows, particularly in relation to the USD and regional currencies.
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