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The war in the Middle East is raising oil prices toward $89.50 a barrel and giving Shell record profits from refining fuel, which could make diesel, flights and other goods more expensive. In Berlin, a former top German intelligence official was arrested on suspicion of spying and attempted treason, raising concerns among allied spy agencies, including Britain's, about leaked secrets. Three years after Hamas's October 7, 2023 attack on Israel, Israel still has not decided who was responsible for the security failures that let it happen, an unresolved question now mixed up with an upcoming election and a recently stopped attack on a flydubai airline flight.
Three stories today trace back to the same fault line: the Middle East conflict and its spreading costs, from fuel markets to Western intelligence trust to Israel's own politics.
Middle East conflict spreads to markets and politics
Shell's refining margin has hit a record and WTI crude is nearing $89.50 a barrel, as the conflict disrupts fuel supply and weather adds pressure; higher costs typically pass through to diesel, jet fuel, gasoline, shipping and airfares (more).
Three years after Hamas's October 7, 2023 attack, Israel still has not settled accountability for the failures that allowed it, now colliding with an approaching election; a foiled attack on a flydubai flight revived the fear of abandonment Israelis felt in 2023, and commentators argue the war has already redrawn the region's balance of power (more).
Western intelligence under strain
German authorities have arrested August Hanning, a former top intelligence official, on charges including attempted treason and espionage, with MI6 reportedly fearing he leaked UK secrets — a case shaking secret services across the West (more).
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