After hitting a session high just around noon, oil has since quite paradoxically tumbled to session lows following news that Israel's Prime Minister Benjamin Netanyahu has fired Defense Minister Yoav Gallant, at a time when the country continues to fight wars in Gaza and Lebanon, and is increasingly in direct confrontation with Iran. And yes, for those saying oil should be surging on the news, you are not wrong, but today little makes sense. 6park.com
“In the past months, trust has been cracked between myself and the defense minister,” Netanyahu said Tuesday in a statement released by his office. 6park.com
Netanyahu and Yoav Gallant 6park.com
The termination came after months of public disagreement between the two over the course of the war. Netanyahu said he was firing Gallant due to a breakdown in trust and gaps in positions between them. Gallant had publicly challenged Netanyahu’s failure to decide on a plan for Gaza’s long-term governance and for not prioritizing a deal to release Israeli and other hostages held in Gaza.