• Israel and Hezbollah continue to trade missiles for airstrikes in fierce fighting; Lebanon, backed by the Arab League, says the proposed Franco-American UN cease-fire resolution favors Israel and will be unacceptable if it doesn’t call for Israel’s complete retreat from Lebanon. For perspectives, see The Guardian; NPR; the Islamic Republic News Agency; the Moroccan Times; Al Bawaba (Jordan); and Fox News.
  • In the world of oil, BP has shut down Alaska’s massive Prudhoe Bay oil field, which represents about 8% of U.S. oil production, due to “unexpectedly severe corrosion” discovered on the Alaskan pipeline (see story here); meanwhile, Iran’s chief nuclear negotiator Ali Larijani, has stated that the country is prepared to cut oil exports if it feels it is being unfairly treated by the international community, as a result of its plans to persevere with its uranium enrichment activities (from TradeArabia).
  • A soft US dollar, trouble in the Middle East and higher oil prices have sent Gold higher, to $647/oz. (Finance24); and
  • I now have mathematical proof that I am not the Antichrist.