Three news stories summarized & contextualized by analytic journalist Colin Wright.
Turkey imposes export restrictions on Israel until Gaza ceasefire
Summary: The Turkish government announced a wide range of export restrictions on Israel earlier this week, saying it would lift them as soon as a ceasefire in Gaza is agreed upon; Israel said they would respond in kind.
Context: This is the first significant measure taken against Israel by Turkey since the former’s invasion of Gaza half a year ago, despite the strong rhetoric Turkish leader Erdogan has been using, and the measures it has been supporting within international bodies, including support for taking Israel to court for genocide.
—Reuters
The odds of $100 oil are rising as supply shocks convulse the market
Summary: Oil prices hit around $90 per barrel earlier this week due primarily to concerns about a potential conflict between Israel and Iran, which would almost certainly expand to encompass much of the Middle East, at minimum, but global supply shocks are now being eyeballed as potential sources for longer-lasting, escalating price-hikes.
Context: Sanctions on Russian oil following their invasion of Ukraine have long impacted the market, but the potential resumption of sanctions on Venezuelan oil, Houthi attacks on crude oil-carrying vessels in the Red Sea, and a recent move by Mexico to reduce their oil exports, resulting in fewer exports from the US, are all contributing to a sense of unease on the energy market, and that sense—and folks making investments based on it—is heightening the possibility that we could see Brent crude oil hit $100 per barrel for the first time in almost two years sometime in the near future, marking a renewed period of high oil prices, complicating all sorts of industries, and also potentially impacting the upcoming US election.
—Bloomberg
Haiti finalizes deal to form transitional council in bid to end gang chaos
Summary: A deal to form a transitional government to manage things in Haiti until order can be reestablished and a more permanent government can be elected has been struck, but the current authorities, who would be giving up their positions as part of the deal, have to approve it first.
Context: This accord would establish a nine-member council, seven of them voting members, two of them observers, who would represent different political parties, the private sector, and civil society, and they would elect a prime minister, and form a temporary government that would be tasked with figuring out how to bring order to what’s been a chaotic and deadly several years in the country, leading up to a planned presidential election in February of 2026.
—France 24
The degree to which reusable rocket components and other efficiency-generating developments in the space launch industry have changed things over the past few years cannot be overstated, and the majority of these benefits are originating within (and primarily benefitting companies and entities based in) the US.
—Chartr
40-60%
Drop in internet traffic along the eclipse path of totality (where the eclipse was full, rather than partial) in the US on Monday, according to cloud computing company Cloudflare.
Traffic was lowest in areas where the view was the best, so it’s thought that this means people looked away from their screens (albeit for only a few minutes) to take in the rare and beautiful view.
—The New York Times
One Sentence News / April 11, 2024