The International Energy Agency (IEA) warned of “rapidly shrinking buffers” in global oil reserves due to supply disruptions caused by the ongoing US-Israeli war on Iran. According to the IEA, 129 million barrels were drawn in March and another 117 million in April, with more releases expected.

Israel launched a new wave of attacks on southern Lebanon, claiming to target Hezbollah infrastructure. The Lebanese Health Ministry reported eight killed, including two children, in strikes on vehicles on a highway south of Beirut. The IDF issued fresh evacuation warnings for several villages.

Hezbollah leader Naim Qassem threatened to turn southern Lebanon into “hell” for Israeli troops despite a mid-April truce. Since March, over 2,800 people have been killed in Lebanon, including 200 children, according to government figures.

Iranian authorities executed Ehsan Afreshteh, convicted of passing sensitive information to Israeli intelligence. The judiciary stated he was trained by Mossad in Nepal and sold secrets to Israel. Rights groups note a surge in executions in Iran since the conflict began.

BRICS foreign ministers are meeting in New Delhi, with Iranian Foreign Minister Abbas Araghchi urging the bloc to condemn US and Israeli attacks. However, Indian Foreign Ministry spokesperson Randhir Jaiswal acknowledged the difficulty of forging consensus due to members’ direct involvement in the conflict.

The IEA warned that rapidly depleting reserves and ongoing disruptions could lead to future price spikes. Airlines are already warning of jet fuel shortages as the summer travel season approaches, with the Strait of Hormuz effectively closed by Iran.

Source: www.dw.com