Hochstein: US Wants to Avoid 'Greater War' along Tense Lebanon-Israel Border

Israeli firefighters work following rocket attacks from Lebanon, amid ongoing cross-border hostilities between Hezbollah and Israeli forces, near the border on its Israeli side, June 13, 2024. REUTERS/Avi Ohayon
Israeli firefighters work following rocket attacks from Lebanon, amid ongoing cross-border hostilities between Hezbollah and Israeli forces, near the border on its Israeli side, June 13, 2024. REUTERS/Avi Ohayon
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Hochstein: US Wants to Avoid 'Greater War' along Tense Lebanon-Israel Border

Israeli firefighters work following rocket attacks from Lebanon, amid ongoing cross-border hostilities between Hezbollah and Israeli forces, near the border on its Israeli side, June 13, 2024. REUTERS/Avi Ohayon
Israeli firefighters work following rocket attacks from Lebanon, amid ongoing cross-border hostilities between Hezbollah and Israeli forces, near the border on its Israeli side, June 13, 2024. REUTERS/Avi Ohayon

The United States is trying to avert a greater war between Israel and Lebanon's Hezbollah movement, US envoy Amos Hochstein said on Tuesday, following an escalation in cross-border fire between the foes along Lebanon's southern frontier.

Iran-backed Hezbollah has been trading fire with Israel for the last eight months in parallel with the Gaza war. Last week, the group fired the largest volleys of rockets and drones of the hostilities so far at Israeli military sites, after an Israeli strike killed the most senior commander yet.

Hochstein, special envoy to US President Joe Biden, said he had been dispatched to Lebanon immediately following a brief trip to Israel because the situation was "serious".

"We have seen an escalation over the last few weeks. And what President Biden wants to do is avoid a further escalation to a greater war," Hochstein said on Tuesday.

He had met the head of Lebanon's army earlier on Tuesday and spoke to reporters following a meeting with parliament speaker Nabih Berri, who heads the armed Amal movement, which is allied to Hezbollah and has also fired rockets on Israel.

The US and France are engaged in diplomatic efforts to secure a negotiated end to the hostilities along Lebanon's border. Hezbollah says it will not halt its attacks unless there is a ceasefire in the Gaza Strip.

"Whether diplomatically or militarily one way or another, we will ensure the safe and secure return of Israelis to their homes in northern Israel. That is not up for negotiation. Oct. 7 cannot happen again anywhere in Israel or on any of Israel's borders," Israeli government spokesman David Mencer said.

He added that Israel was "impeding Hezbollah's military buildup and their stockpiling of weapons for terror against Israelis".

Hezbollah began trading fire with Israel on Oct. 8, a day after its Palestinian ally Hamas attacked southern Israel, sparking the Gaza war. Tens of thousands of people have fled both sides of the border.

DRONE ATTACK

Hochstein urged Hamas to accept a US-backed proposal for a ceasefire in Gaza, which he said "also provides an opportunity to end the conflict across the Blue Line", a reference to a demarcation line between Lebanon and Israel where parts of the international border are disputed.

Hochstein met caretaker Lebanese Prime Minister Najib Mikati, who told him that "Lebanon does not seek escalation", according to comments issued by Mikati's office.

The increase in attacks last week was followed by a brief respite during the Eid al-Adha Muslim holiday, which concludes on Tuesday. Hezbollah announced a drone attack against an Israeli tank on Tuesday afternoon - its first announced attack since Saturday.

The group used more of its extensive arsenal against Israel last week, prompting United Nations officials in Lebanon to warn over the weekend that the "danger of miscalculation leading to a sudden and wider conflict is very real".

UN human rights chief Volker Turk said on Tuesday that he too was worried about the escalation, and called "for a cessation of hostilities and for actors with influence to take all possible measures to avert a full-scale war".



Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
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Oil Heads for Weekly Gains on Anxiety over Intensifying Ukraine War

Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo
Pump jacks operate in front of a drilling rig in an oilfield in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford/File Photo

Oil prices extended gains on Friday, heading for a weekly uptick of more than 4%, as the Ukraine war intensified with Russian President Vladimir Putin warning of a global conflict.
Brent crude futures gained 10 cents, or 0.1%, to $74.33 a barrel by 0448 GMT. US West Texas Intermediate crude futures rose 13 cents, or 0.2%, to $70.23 per barrel.
Both contracts jumped 2% on Thursday and are set to cap gains of more than 4% this week, the strongest weekly performance since late September, as Moscow stepped up its offensive against Ukraine after the US and Britain allowed Kyiv to strike Russia with their weapons.
Putin said on Thursday it had fired a ballistic missile at Ukraine and warned of a global conflict, raising the risk of oil supply disruption from one of the world's largest producers.
Russia this month said it produced about 9 million barrels of oil a day, even with output declines following import bans tied to its invasion of Ukraine and supply curbs by producer group OPEC+.
Ukraine has used drones to target Russian oil infrastructure, including in June, when it used long-range attack drones to strike four Russian refineries.
Swelling US crude and gasoline stocks and forecasts of surplus supply next year limited price gains.
"Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price upside, and the price elasticity of OPEC and shale supply limiting price downside," Goldman Sachs analysts led by Daan Struyven said in a note.
"However, the risks of breaking out are growing," they said, adding that Brent could rise to about $85 a barrel in the first half of 2025 if Iran supply drops by 1 million barrels per day on tighter sanctions enforcement under US President-elect Donald Trump's administration.
Some analysts forecast another jump in US oil inventories in next week's data.
"We will be expecting a rebound in production as well as US refinery activity next week that will carry negative implications for both crude and key products," said Jim Ritterbusch of Ritterbusch and Associates in Florida.
The world's top crude importer, China, meanwhile on Thursday announced policy measures to boost trade, including support for energy product imports, amid worries over Trump's threats to impose tariffs.