Global

Oil prices were little changed on Friday, staying on track for weekly gains, but the markets remained jittery with tensions persisting in the Middle East after Israel rejected a ceasefire offer from Hamas, according to Reuters. Brent crude futures slipped 1 cent to $81.62 a barrel by 6:34 a.m. Saudi time, while US West Texas Intermediate crude futures rose 3 cents to $76.25 a barrel. Both benchmarks rose about 3 percent in the previous session as Israeli forces bombed the southern border city of Rafah on Thursday after Prime Minister Benjamin Netanyahu rejected a proposal to end the war in the Palestinian enclave. The tensions have kept oil prices elevated, with Brent and WTI both set to gain more than 5 percent for the week. “The move yesterday seemed a bit excessive on the back of not very much at least in terms of fundamentals,” ING’s head of commodities research Warren Patterson said. “I still expect the rangebound trading that we have become accustomed to recently will continue given the comfortable oil balance.” US officials made their most pointed criticism so far of Israel’s civilian casualties in Gaza as it turned the focus of its offensive to Rafah. A Hamas delegation arrived in Cairo on Thursday for ceasefire talks with mediators Egypt and Qatar. While the conflict has propped up prices, there has been no impact on oil production. Non-Organization of the Petroleum Exporting Countries output from Norway and Guyana is increasing while Russia is exporting more crude in February than it planned following a combination of drone attacks and technical outages at its refineries that could undermine its pledge to curb sales under a pact from OPEC and its allies, known as OPEC+ Under the deal, Russia committed to capping crude output at 9.5 million barrels per day. It is also voluntarily cutting crude exports by 300,000 bpd and fuel exports by 200,000 bpd from the average May-June level.

The BBC is reporting that more than 800 serving officials in the US and Europe have signed a statement warning that their own governments' policies on the Israel-Gaza war could amount to "grave violations of international law". Many are describing the statement as an unprecedented move that reflects great concern in official circles in western countries about the the position of their governments on the situation in Gaza. The "transatlantic statement", a copy of which was passed to the BBC, says their administrations risk being complicit in "one of the worst human catastrophes of this century" but that their expert advice has been sidelined. It is the latest sign of significant levels of dissent within the governments of some of Israel's key Western allies. One signatory to the statement, a US government official with more than 25 years' national security experience, told the BBC of the "continued dismissal" of their concerns. "The voices of those who understand the region and the dynamics were not listened to," said the official. "What's really different here is we're not failing to prevent something, we're actively complicit. That is fundamentally different from any other situation I can recall," added the official, who spoke on condition of anonymity. The statement is signed by civil servants from the US, the EU and 11 European countries including the UK, France and Germany.

Israeli accusations that staff of the UN Humanitarian agency UNRWA which works in Gaza, were involved in the 7 October attacks on Israel need to be taken seriously, and the UN leadership must flash out any bad apples amongst the many, and restore the reputation of the organisation for professionalism. But the knee-jerk reaction of several Western governments in suspending funding to UNRWA is unacceptable, especially given the dire situation of millions of Palestinians, made much worse by the recent war in Gaza. Stopping the work of UNRWA will make an already significant humanitarian disaster much worse. In this regard, countries like Norway and Spain are to be commended. They kept a cool head and reiterated their commitment and support to UNRWA, whilst others were more hasty in halting or suspending support for the agency. There are two problems here: financial and political. The financial aspect is solvable. Gulf states need to step in and compensate for any shortfall in UNRWA’s budget. Other countries need also to step up. But the bigger problem is political. The support of Western countries for UNRWA gives it the necessary prestige that allows its leadership to negotiate the stormy waters of the Middle East. This should not be lost. Countries like UK, Netherlands, Germany and Italy, need to quickly reconsider their position and restore the funding to UNRWA. UNRWA was established in 1948 as a temporary measure to provide relief to the Palestinian people. That seventy-five years later it is still needed more than ever is a testimony of the failure of the international community to do justice to the Palestinians. From the tragedy and suffering of the last five months a new reality must emerge that must necessarily include the creation of a viable Palestinian state. It is time for the EU and European countries in particular, but also the US, to think strategically and act firmly.

On Friday (26 January) the International Court of Justice (ICJ) in the Hague ruled on whether emergency measures are required until a final decision is taken on the South Africa’s genocide case against Israel. The judges ruled that Israel must act to stop genocide in Gaza and allow the flow of humanitarian aid and basic services. Although this verdict is legally binding on the parties involved and a step in the right direction, the ICJ lacks enforcement power. The Court needs the U.N. Security Council (UNSC) to enforce its decision through mechanisms such as sanctions or even military intervention, however, the UNSC is unlikely to do so given the United States’ traditional shielding of Israel through the veto power. Moreover, the Court did not demand a ceasefire that would require Israel to stop its operation in the Gaza Strip. This disappointed many who consider an immediate ceasefire by all parties as being essential in order to end the suffering on civilians.

In an incident that is likely to further aggravate the already tense situation in the Red Sea and the Gulf of Aden, Yemen's rebel Houthi Movement on early on Saturday (27 January) fired a missile at an American naval vessel patrolling in the Gulf of Aden. The group, which has been attacking commercial shipping off the coast of Yemen in response to the ongoing conflict between Israel and Hamas, fired an anti-ship missile toward the U.S. destroyer USS Carney, according to a statement from U.S. Central Command. A terse statement from the US Central Command in Tampa said, On Jan. 26, at approximately 1:30 p.m. (Sanaa time), Iranian-backed Houthi militants fired one anti-ship ballistic missile from Houthi-controlled areas of Yemen toward Arleigh-Burke class destroyer USS Carney (DDG 64) in the Gulf of Aden. The missile was successfully shot down by USS Carney. There were no injuries or damage reported.  On Friday, the Houthi rebels also struck an oil tanker with an anti-ship ballistic missile, according to the ships operator, Trafigura. "The crew is continuing efforts to control the fire in one of the ship’s cargo tanks with support from military vessels," the company said in a statement.

Walking through the temples of Angkor Wat, the sound of musical instruments was making its way through the jungle, complementing the birds. Once I got closer to the musical instruments, I realised that that the singers were victims of landmines, trying to bring awareness to this danger through music. They were not looking for pity or money, simply to share flyers on the history of landmines in Cambodia and its terrible effects that continue to affect civilians. This encounter sparked my interest as Cambodia is rarely mentioned in news or research papers.

Turkmenistan, for decades considered one of the most closed countries in the world, is moving towards modest attempts at opening up its economy. Western sanctions against Russia which caused a gradual halt to energy supply from Russia to Europe and swelling Russian gas supplies to China, once Turkmenistan’s almost-exclusive client, made Ashgabat face a new reality that challenged its longstanding economic model, resulting in a significant deterioration of living standards and social discontent. Against this background, the country had to start considering options for diversifying its gas export geography and attracting foreign investment, writes Murad Muradov in this analysis prepared for commonspace.eu. The big question remains however whether the long-cherished idea of the Transcaspian pipeline, a link which would bring Turkmenistan’s gas to European markets, will finally come to fruition after many years of aborted attempts and uncertainty. This may be within reach sooner and faster than expected.

The chairmanship of the Non-Aligned Movement, a grouping of 120 countries, mainly in the global South, passed on Friday morning from Azerbaijan to Uganda. President Yoweri Museveni was elected by acclamation as the chair of the 19th NAM Heads of State and Government Summit taking over from Ilham Aliyev. Azerbaijani foreign minister, Jeyhun Bayramov, represented the outgoing president Aliyev. He congratulated Uganda and President Museveni for assuming the NAM chairmanship and promised that his country will extend all the necessary support to ensure success of the movement. “Azerbaijan chairmanship has done its best to make the voice of our members heard in all possible platforms with successful initiatives and there’s no doubt that Uganda’s chairmanship will continue with this legacy, even further building upon it,” he said. “At this historic moment, after four years of proudly chairing the movement, we are handing over the chairmanship to the Republic of Uganda with a rich substantial and institutional legacy and we are confident that Uganda will further enhance the development feasibility of the movement and strengthen unity among its member states. I would like to reiterate that our passion and determination for the success of NAM will always remain strong and we will continue to contribute to the just cause.”