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Amos in Middle East to Temper Israel/Hezbollah Escalations

OIL

US diplomat Amos Hochstein has traveled to the Middle East on Monday to try and ease tensions between Israel and Hezbollah.

  • He will meet Prime Minister Benjamin Netanyahu, Defense Minister Yoav Gallant and President Isaac Herzog, according to Israeli officials.
  • Oil markets have not been reacting to Middle East instability headlines lately due to a lack of impact on any oil production.
  • RBC’s head of commodity analysis Helima Croft warned in a recent interview that the Hezbollah situation was a potential main inflection point for wider escalations in the region at present, which could draw Iran further into the conflict.
  • Hochstein led negotiations between Israel and Lebanon in 2022 and resolved a maritime dispute for gas discoveries, in what was a rare diplomatic success.
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