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The World Daily Brief: Iran, Israel appear to be standing down after unprecedented strikes

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The World Daily Brief: Iran, Israel appear to be standing down after unprecedented strikes

Coming up this week

  • The Philippines and the U.S. begin annual joint military exercises today, but this time the exercises take place far from Philippine territorial waters in a part of the central South China Sea claimed by China. Though international law allows the exercises to take place there, China will see them as a provocation. READ MORE
  • Passover begins at sundown today and ends at sundown next Tuesday.
  • North Macedonia votes for president on Wednesday. READ MORE
  • U.S. SecState Blinken will visit China this week with a warning to Beijing to stop Chinese companies from helping Russia make military hardware. READ MORE

Commodity Prices

  • Aluminum: $2,669/ton
  • Antimony (ingot min. 99.65% fob China): $14,200/ton
  • Cobalt: $27,830/ton
  • Copper: $9,876/ton
  • Gold: $2,337/toz
  • Lead: $2,219/ton
  • Natural Gas (Nymex): $1.77/MMbtu
  • WTI Crude Oil (Nymex): $82.77/barrel
  • Zinc: $2,852/ton

International News

Iran and Israel

  • Both Iran and Israel seem to be standing down after their tit-for-tat exchange of unprecedented direct strikes last week. Iran downplayed Israel’s drone strike on Friday and seems content to let it be the last shot in this volley. READ MORE
  • Israel’s Friday strike hit a defensive battery near some of Iran’s most important nuclear infrastructure. Western officials said Israel’s objective was to show that it could penetrate Iranian defenses undetected – and it apparently did on Friday. READ MORE
  • Some Israeli media reports suggest Israel used a supersonic “Rampage” missile in that final strike on Friday. Neither Israel nor Iran are confirming those reports: Iranian officials are happy to let the public believe the foreign minister’s comment that the weapons deployed agaisnt Isfahan were “like toys our children play with” rather than a high-tech, 1,250 lb (567 kg) missile. READ MORE
  • Separately, Iraq’s pro-Iran Popular Mobilisation Forces accused the U.S. of striking one of its bases near Baghdad, killing one militant. READ MORE
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