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Tragedy on Libya’s Coast as Migrant Bodies Wash Ashore

  FILE PHOTO: Migrants aboard an overcrowded boat are approached by the crew of the migrant search and rescue ship Sea-Watch 5, operated by the German NGO Sea-Watch, during a rescue operation in the Search and Rescue (SAR) zone in the central Mediterranean, off Libya. At least five migrants, including two women, were found washed ashore in the coastal town of Qasr al-Akhyar, east of Libya’s capital, Tripoli. Local police reported that the bodies were discovered along the Emhamid Al-Sharif shore, a location where residents first spotted them and alerted authorities.  According to police investigator Hassan Al-Ghawil, a child’s body had also briefly washed ashore but was pulled back into the sea by strong waves, prompting the coast guard to continue searching the area. All of the recovered individuals were described as dark‑skinned, underscoring the ongoing dangers faced by migrants attempting perilous Mediterranean crossings.  The incident highlights the persistent huma...
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Oil Market in for Uncomfortable Few Weeks After Drone Strike

 


On January 29, 2024, a drone strike killed three US soldiers in the Middle East, escalating regional conflicts and irritating oil markets. The attack’s near-term impact on oil supply is expected to be limited, but the situation is still volatile. Prosper Trading Academy CEO Scott Bauer and Eurasia Group Middle East Practice Head Ayham Kamel warn that this is not going to be a comfortable few weeks.

The oil market is already on its heels due to weak demand. Though geopolitical tensions could move prices, the impact appears muted as risks are already priced in. Bauer sees crude oil in a bearish macro position and is enthusiastic about the current volatility for traders, suggesting investors look to sell.

In conclusion, the drone strike has created an uncomfortable situation for the oil market. While the attack’s near-term impact on oil supply is expected to be limited, the situation is still volatile and could lead to further disruptions in the future.

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