>> a very good morning, welcome to "bloomberg daybreak: australia." i am haidi stroud-watts. annabelle: i am annabelle droulers. we are counting down to major market opens. vonnie: i am vonnie quinn. israel sends troops and tanks into northern gaza in what it calls the second and longer phase of its war against hamas. the escalating middle east conflict is heading to pressure from markets amid an already heightened week. a bond rate hike amazed of the spotlight. shery: a bumpy road to be expected biden-president xi jinping summit. let's get a check of where we stand markets wise. it looks like we are getting futures pointed higher, this after stocks fell for a second week in the u.s. last week

touching their lowest level since may. the s&p 500 did rise friday, but the index done 10% from its july peak and correction territory. investors punishing companies whose profit outlook is worsening, and wc the geo political tensions as well, yields falling for a second week, rent crude -- brent crude coming up slightly down .71%. gold has been rising, it is about $2000 per ounce, and volatility in yields and oil and gas markets as well. 10 year yield at 483. we will be looking at safe havens like the u.s. dollar, treasuries, maybe the swiss franc for a little bit of a clue on where markets think they should be going with central banks meeting as well. vonnie: israel sent troops and tanks and what it calls the

second phase of a defense. prime minister netanyahu says this stage will be long and difficult. let's get more. how is this campaign different from previous ground fights between israel and hamas? >> in a lot of ways, we can look at two. past wars israel has been looking to degrade hamas, basically take it down a couple of notches so it cannot fire missiles into israel. this time after the horror of october 7 they are going into destroy hamas. that is a different order of magnitude and will take a long time. second, israel has been under a lot of pressure from the u.s. and its allies that it once you take a more cautious approach to its ground invasion. in the past it is going to with a lot of people at once to get it done quickly. now it wants to be cautious, have a day-to-day approach. two reasons for this, they are under a lot of pressure to minimize civilian casualties,

and there are 200 hostages that they would like to get out. haidi: prime minister benjamin netanyahu coming out with strong questioning over all israeli failure to detect the attack, and there was a perplexing responses to how intelligence may have missed that, and we have seen the pressurizing as you reference these mounting humanitarian losses. >> the prime minister has been under very thin ice recently. we saw the huge demonstrations against his judicial were formed the last couple of months. after october 7 he is been under incredible pressure for how is it that israel missed this attack. it was a very well coordinated attack, a lot of people. netanyahu has blamed military intelligence and has come under a lot of pressure to resign because he refuses to take

responsibility, and there was a very odd tweet last night by the prime minister in which she repeated his assertion that this was the fault of military and military intelligence. he came under quick criticism even late at night, deleted it and said he was sorry, and this does not help. haidi: ian fisher with the latest. let's get some analysis. we are joined by a senior fellow and director of conflict resolution at the middle east institute. great to have you with us. we are hearing into various ways that this ground offensive may be different from previous instances, and in some ways this is a walked back scenario from what we are expecting given that hostage negotiations are ongoing. what are your expectations of others plays out? >> i think it is going to take a long time, because as ian said this time they want to destroy

hamas military infrastructure and deny it the ability to reconstitute itself in gaza, which in my opinion will be hard to achieve. at the same time, they have to be mindful of the ongoing negotiation to release the hostages and how this can be balanced against the attacks. the campaign has already killed more than 7000 civilians in gaza . more than half of them are women and children, so we are already at the very bloody phase of the war, and going forward i expect even more civilians to bear the brunt of that attack. haidi: right, because we know the nature of hamas infrastructure in these targets that have been targeted is that they are very much embedded within civilian life and areas of gaza, right? so deciding they could going cautiously to minimize supervision -- civilian

casualties, is that realistic to you? >> the trade-off they will have to take his proportionality versus necessity of the target. at some point if they succumb -- come to assess if there is a target where civilians will be her but is a necessity they have to go after, this is the trade-off they will have to make every time they are heading. still they offered an example today, warnings were one hospital to evacuate, and according to international law hospitals should not be targeted in any form, so hospitals are being targeted, schools are being targeted. they should be off-limits. how much care is being taken up by israel to follow international humanitarian law is being questioned in many capitals around the world, not

only in the arab region, but also in the global south. haidi: there is also a big question as to what this area looks like if they are successful in destroying hamas. there has been conversations about the gaza strip will be returned to whoever ends of governing, a kind of buffer zone. we are a long way away from that i presume, but that next phase might look like? >> i think right now the focus on the northern part of gaza is basically to create this larger buffer zone for israel. going forward, it is expected they will have to go into the southern part of gaza, because that is where hamas will be moving, from the northern to the southern part of gaza, so the fear is -- and u.s. officials have been advising that -- is that there is no long-term plan. there is no day after plan. it is gaza going to be emptied

of 2.2 million people? are they going to be pushed out across the border into whoever survives into egypt? i think it is still not clear how this campaign can be carried out and achieve the objective of destroying hamas infrastructure, when as you said, hamas is deeply embedded amongst the civilians. haidi: we are talking about a long history that has been very bloody and extended, but do you see this current conflict is being something that sits quite apart from the rest? quite different in the way this has progressed? and does that bring with it new wrist we have not seen in previous iterations? >> i definitely think in terms of the scale of the violence is, yeah, it is unlike anything we

have seen in the past. the objective is unlike any previous fight between hamas and israel in the past, when the objective was to deter and punish hamas and not to destroy hamas, and today we are seeing more risk of escalation on the northern border between hezbollah and israel. we are seeing the phase of escalation picking up a notch today. more targets are being hit the outside the boundaries, deep in the territory of each country, of each party. about 14 millimeters inside lebanese territories have been targeted today, 14 kilometers within israeli territory has been targeted by hezbollah. hezbollah has announced they downed an israeli drone by a

service to air missile. the united states hitting iranian proxies that have targeted u.s. assets in northeastern syria. we are hearing about new attacks tonight as well. we are seeing a phase of escalation on so many fronts unlike what we have seen in the past involving mostly nonstate actors opposing israel. haidi: we did speak with iran's foreign minister and denied those attacks were linked to tehran and they were independently motivated, but take a listen to his views when it comes to the potential spillover of this current conflict. >> if the united states continues what it has been doing so far, then new fronts will be opened up against the united states. haidi: how do you assess the risk at this point when it comes

to a widening of this war? >> i think the risk is real. national security advisor sullivan said today they are seeing an elevated risk in the region that will spillover. we are seeing the marines response force in the mediterranean, the course between lebanon and israel, so there are serious risks and serious alarm in many quarters, including d.c. about the spelling over, and the pace of escalation is really worrying. it is like it is heading toward a state where things will soon start getting out of control, and that is the concerning part now. haidi: how long jen international allies do you think stomach the level of humanitarian crisis that is already unfolding? >> i do not think very long.

we are already seeing huge demonstrations in many western capitals. the u.s. and global north have already lost the support of the global south. the gulf between global north and global south on this is really deep, and we are already seeing civil societies in the u.s., in the north calling for a cease-fire, increasing the pace of humanitarian assistance, and as facts accumulate, as deaths among children, elderly, women, there will be more pressure on policymakers and many of these capitals that have given until now israel almost unconditional support to really start raining in the israeli government in terms of how far can it go and how violent can it be with its attacks?

haidi: senior fellow and director of conflict resolution at the middle east institute. we appreciate your time with us. these escalated risks as you just spoke about the risk of a spillover, we are seeing the reaction of the markets independently of this a very hectic week. annabelle: you have central-bank decisions on tap and we can get to that in a moment, it really is that focus on what is happening in reaction to the israel hamas war, and it is interesting because we had oil markets coming online at the top. brent crude falling back below $90 per barrel, so he tells us investors are starting to see the word premium in this commodity class, so quite an interesting one to watch. it is that focus on risk of trading. sidney futures pointing to a drop of around 1%, and safe havens and focus, so when the currency space we have already seen the swiss franc, japanese

yen firm against the greenback holding fairly steady at this point, and gold under the focus for us today, and you can see that climbed there. gold has actually been one of the more interesting asset classes as well since the war started. you can see that climb since the start of october. that is a jump of 10% for gold, and you have seen equities flipping. equities not just about the israel-hamas war, there was also the outlook for the fed and other central banks. that is the big focus for investors that we, the central-bank decisions coming up including from the fed in the boj and asia. vonnie: an exciting week to come in terms of central-bank decision-making. we will discuss u.s.-china relations as officials agree in principle to a meeting between biden and xi next month.

why the president of walser wealth management sees a route as tensions escalate. this is bloomberg. ♪

>> i think the risk remains on

the horizon, but at least now we can imagine a pathway to lower inflation without necessarily having a recession, which i think a year ago we were less sure about. haidi: the singapore managing director there about recession expectations, and take a look at the week ahead because as annabelle flagged earlier massively present for banks. the fed will have to wait or fight against inflation with increasing concerns about the strength of the u.s. economy. bloomberg expecting the fed to hold rates steady while maintaining the tightening bias. the decision comes just before u.s. jobs data on friday, but before that investors might be paying close attention when it comes to the treasury department plan hours ahead of the fed announcement. the quarterly funding announcement will reveal the extent to which the treasurer will ramp up longer-term debt.

on thursday a rate decision from the boe, bank of england expected to keep rates unchanged for a second meeting while keeping the door ajar for further hikes. at the bank of japan will be on watch on tuesday to see if it changes the yield curve control stance as well as its adoption of negative rates. pressure has been building a mid weakening yen. rate decision from pakistan, brazil, and malaysia. markets will also be focused on earnings, launcelot continues. the world's most valuable companies face of a slump in smart phone sales. one of the main suppliers is under investigation and china. earnings are cross broader tech, banking, auto companies all in focus and asia. that is your week ahead. vonnie: our next guest season imminent market rout done by escalating geo-political tensions. rebecca is president of warsel

management. we are already in correction territory from the s&p 500 peak midsummer. >> it could get a worse than just 10%. we could be into a 20% correction territory, but that is if geopolitical risks escalate. we have had strong economic it at the last couple of weeks, and yet the market is still reacting quite negatively, and we have to look at why is that happening? or is, we know when everything escalated in the middle east, and we can track the uncertain and uneasiness of the world from there, so as this escalates we see now the highest risk, and even jamie dimon mentioned this week he was in saudi arabia -- he mentioned that this is probably the highest level of geopolitical risk of tactical or the use of nuclear weapons that we have had really since world war ii, and that is really the

concern is are we going to get not to a new level that we have not seen in the world since the 1940's? well, you know, in global warfare while we are just still recovering from all of the results of a global pandemic and the stimulus, the budgets, and all of those things are not quite destabilize? because certainly those things are not stabilized. as we have seen central banks going to do a fast raising campaign to even achieve a soft landing. vonnie: it is quite curious, because you mention all of the risks, but at the same time indicators of the stress like the vix are not elevated. does that suggest the market is not as concerned about those very slight possibilities of as you mentioned nuclear warfare? >> vix is not, what we have seen it jump and pop. so it pops up and it comes back down, it is what we have been

seeing, incredibly strong economic data, good jobs numbers, unbelievable numbers when it comes to me factoring, global even though we are seeing germany in a depression, level of manufacturing, china having a real estate problem. there are a lot of factors that do show something bad could happen, but when you take a look at those thing and you aggregate them in and out on top of that geopolitical between argosy ukraine, russia, and other middle east, it is just too much for all of this to bear, and that is why we see unfortunately quite a big correction or big pullback coming if things continue to get escalated. vonnie: as you say there is a very resilient u.s. economy, we are getting strong data, a lot of positives as well. is there a chance they could weigh out some of the negatives, or is there a scenario where you have both? >> this is what we have been living through, this is where we have been.

magic leap the world has been able to sustain since march of 2022 when russia invaded ukraine. we have had this extra geopolitical risk, problems in the united states with house leadership. there has been so much turmoil, and yet the world economy has remained resilient. what i'm trying to say is that i do not know how much more we can take without us actual impact. it has just been surprise after surprise after surprise. the surprise would be gdp projection still showing a strong consumer in the united states which is unbelievable given savings depletion and credit card debt. now at an average of over 24% on a monthly basis -- i mean annualized basis, but that is people having to pay this debt, and we have $5 billion coming back out in october going back to student loan debts, so you have so many factors that keep getting piled on, and at some

point we are going to have an issue with the cost of capital. you cannot expect the earnings to continue to come when it cost so much more to continue to invest and have r&d. vonnie: we may be seeing some of that already in the tech sector. thank you so much for joining us , rebecca walser. these are live pictures from northern israel not far from the lebanon border as israel deepens its war with hamas. once again, live pictures from northern israel not far from the lebanon border. israel deepening its war with hamas in gaza. you can get more analysis on today's edition of daybreak. terminal subscribers can go to dayb. this is bloomberg. ♪

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haidi: take a look at how we are trading when it comes to ethics, and of course -- affects -- fx, and with these geopolitical concerns we are seeing the dollar. this is the picture across the region, a little more lament and for the aussie dollar at 63.44. we have seen this continued improvement when it comes to china-australia relations playing into that system too. so, you've got the power of xfinity at home. now take it outside with xfinity mobile. like speed? it's the fastest mobile service around. with the best price for two lines of unlimited. only $30 bucks a line per month. that's hundreds in savings a year

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i have people come up to me all the time and ask me, "does it really work?" and all i have to say is, "here i am. it works." my advice for everyone is to go with golo. it will release your fat and it will release you. haidi: the chinese foreign

minister warning the u.s. and china cannot rely on what he calls autopilot for a potential meeting between president biden and president xi jinping. he says the u.s. and china must improve ties and said both sides will work together to achieve the meeting during a summit in san francisco next month. joining us now from the u.k. is a professor of u.s.-asia relations at harvard kennedy school belfast. a lot at stake with this meeting as we have heard, some engagement is better than no engagement, so it already is an improvement. >> this is an immensely important meeting. the relationship between china and the u.s. was reaching a real low 6 to 9 months ago, and the fact that they are agreeing to

meet and that there is a high prospect of president xi jinping meeting the united states is a plus, but what is problematic, what will happen about taiwan, whether the u.s. will continue to prevent china from obtaining high-quality semiconductor chips and overall whether the relationship between the two can lead to managing the situation in east asia or whether there might be some confrontation, all of these are still very much on the agenda and will need to be carefully balanced. the foreign minister of china says he thinks there is a bumpy road ahead, so he is not getting people's expectations too high. haidi: there is a slowdown in china's economy both cyclical and structural. given more leverage forex trading partners and development partners, you think there is more persuasion on beijing's side to be working with those partners now? >> i think that is right.

what has been happening in the last half year or so is we see some signs china's economy is experiencing short-term bumping is. the most famous example is youth unemployment, which official figures suggested is running at 20%. china stopped publishing official figures on this question. they need not only to stimulate the domestic economy but also keep a stable environment in the asia-pacific region. that means making sure foreign direct investment can flow smoothly in both directions. it means essentially the chances of business being put off because of military confrontation in the region such as the recent spat between the philippines and china, all of those things will be things that china will be trying to downplay. you can look to eight calmer geopolitical environment because china wants to improve its economy.

vonnie: how much is china's position on the israel-hamas war impacted type of dialogue that will happen between the two leaders? >> that will be one of the most interesting things in the next meeting, because for a long time china and kept a very balanced relationship in the middle east. it was friends with iran, saudi arabia, and israel. last week china made a very strong statement making a strong statement against israel's activity in gaza. as the world's attention is turning to the middle east, the ukraine war, which is very much going on is now going lower in the headlines, and what china would like is not necessarily for vladimir putin to win easily but forced him to make sure that his position is not weekend -- w eakened. they can give tacitly more assistance to putin without

coming out in favor of him, so that will be part of the calculation in terms of china pushing hard on the middle east. vonnie: how does the availability of natural resources impact relations going forward, because you have the different blocs and territories in between that many of these countries are dependent on? >> that is right, when we think about natural resources, both of the major war zones in the northern hemisphere, the ukraine war and the israel-hamas war potentially endanger of cutting off or severely curtailing fossil fuel supplies to china. china is doing well because of russia. much of the production is sanctioned in the western world, but trying it would be concerned the supply will cut off. it is also dependent on the middle east where it is kept a good relationship with iran and saudi arabia, but in that context also wants to make sure

that the flow is not enough. it is actually looking to boost its global trade surplus. it needs energy as the winter months are coming. northern china gets cold in the winter months, and it does not want to have to turn too much to domestic coal. the fossil fuel flow is important to china and is one of the reasons it will try if it can to provide some sort of capacity to calm down the situation where it can. haidi: i wonder how precarious xi jinping's position is domestically just because of the amount of censorship we saw. do you think there is quite a bit of reflection going on in the moment with his party, this idea that the development path that china could have perhaps taken? >> i think xi jinping's personal position is probably not in any particular peril, but it does

appear chinese domestic politics is much more volatile at the top levels more than we realize. the foreign minister and defense minister have both been fired without any great explanation. medical corruption may account for the defense minister being fired. two major generals have been relieved of their job as well, and the former prime minister died just a couple of days ago, and they tried to make sure nobody puts public statements on social media in case they are too sympathetic to the deceased premier and not nice enough to xi jinping, so i think there is insensitivity there particularly post-covid. they do not want to find any occasion in which social media intranet can find any reason to criticize the leader. haidi: always great to drive with you, rana.

we appreciate your time. we will stay with china, evergrande facing moment on monday, it must present a structuring progress plan. evergrande is dealing with creditor requests were liquidation. we know this is been pretty chaotic, the entire process. annabelle: something that would've been considered perhaps unthinkable for one of china's biggest property developers. it is a winding up order, and the hearing will be taking place in a court in hong kong. it originates from a lawsuit filed by a creditor, it was a strategic investor. it was the first wind up lawsuit. there are a few of them against evergrande, but then it became the consolidated class action for other frustrated creditors in this process, but we know

that there are many of them. if the court does decide to issue a windup, then evergrande could steal -- still appeal the decision but would not stop the liquidation process were moving forward. a liquidation order might not lead to an immediate disruption of construction work, housing, but if it did come through today the court could appoint a liquidator who would seize control from directors, management and start to make major business decisions. what we see from china? that is another wildcard, but we do not know whether it would actually be a by authorities in china is well. vonnie: what are some evergrande assets and focus for this ad hoc editor group? -- crditor -- creditor group? --

the company as we know it also has a new vehicle, a new energy vehicle unit, it's property services arm, online housing sales, that is a platform. there are fewer offshore real estate assets up for grabs, because we know for instance i tower in hong kong that has been taken over by a lender. the big question mark is how china's government would respond to order liquidation of the company, because likely they would play an outsized role in this, and they could choose to shrug off in order from a hong kong cord. the vast majority of its assets are located on shore in mainland china. lawyers we have spoken to said evergrande is likely to have a very rough time today in the hearing later. evergrande has previously managed to avoid being wound up

by getting adjournments in the past, the question is what we are starting to see more creditors wavering in support for evergrande, so that has been one of the big holdouts in the construction process, you mentioned had hock creditors, and that is another group of people that are owed at and they are starting to put question marks over that, so really a lot of focus on what happens in that courtroom in hong kong. vonnie: that heat is definitely on. annabelle, thank you. up next, our interview with ravi menon and how he sees a path out of high inflation without a recession. this is bloomberg. ♪

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when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. haidi: australia has walked away from negotiations with the european union on a free-trade deal for the second time in three months. this is been five years in the making. how much of this is gamesmanship and how much is fundamental disagreements? >> it is dragging on a little bit. the trade minister said he was never going to sign a deal that was not in the national interest, so the metric does not

measure up. the sticking points are the same as they were three months ago, agriculture. australia once better access for beef, mutton, sugar as well. it once australia to start using certain terms to describe certain types of wine and cheese. just last week the national farmers federation said on camera that the stans was a dud. the european commission says that we table demands do not reflect the progress that has made since the last walkup. don saying negotiations were continuing but ultimately fell short again. vonnie: is there of the political will to actually get this deal done eventually? it is not seeming like there is? >> it does feel like there is not, but there is, and aside from the economics of it, lytic

lead the optics will be good as well. here in australia the government had a failed referendum on the intentional voice to parliament that was criticized throughout. it was focusing on that over economic issues, so bringing home a free-trade deal with the eu would have helped the blood that narrative, and the eu as had a couple of failures as well in terms of trying to get the u.s. to remove steel and aluminum tariffs. so this would have been one to stock up in the win -- chalk up in the win column as well. it could be months, it could be years before the gets done. the agriculture minister saying it might be until after the next federal election that this gets addressed, and that will be after 2025. haidi: the monetary authority of singapore director says he sees a path of high inflation without a recession. he told bloomberg economy sedimentary sewing during a time

of rapid monetary policy tightening. >> you have to accept that inflation as some down without excessive cost on the real economy and on real employment. i think many of us including myself thought as central banks tightened central policy -- and this is the most rapid pace of tightening a decades -- that economies would necessarily have to tip into recession in order to purge out price pressures. i think the risk remains on the horizon, but at least now we can imagine a pathway to lower inflation without necessarily having a recession, which i think i year ago we were less sure about. >> you surprised the market this month when you announced a two-week -- a tweak in the

frequency of your meetings. what is the thinking? >> in just the last two years we have had to make a few off cycle moves. if you do an off cycle move into response to quickly changing developments, i think that is ok. markets understand. sometimes you just have to move out of cycle, but if it becomes too frequent, it just sets off apprehension. this does not mean we are moving toward shorter-term orientation in policies, so that was one of the reasons why we hesitated in the past. >> there has been so much volatility in the markets, and we are seeing massive movements especially in the bond space. 10 year yields hit 5% for the first time since 2007. how are you looking with where we are right now and how high they have gone in a short period of time? >> you should look at the good

news that they did not blow up into something bigger. the problems were contained, i think because the banking system is quite resilient against the kind of interest rate increases we have seen. some corporates and households are not. by and large we have managed the transition to higher yields. >> central banks have said perhaps when it makes an exit f rom ycc or zero rate policy, that might cause a lot of volatility. >> again, we should be thankful that monetary policy tightening and the removal of quantitative easing is not been too synchronized. because if it happened at the same pace and scale in the u.s., in th eeu and japan, i think the impact on the world would a much bigger. their responses have been slightly different. the u.s. taking the hardest position in terms of removal

from qe, followed by the ecb, and now japan is doing the same, so i think this sequencing not by design but e central bank responding to its domestic situation has not been too bad. >> we have seen gyrations in the fx space. the dollar has been pretty stable right now, are you comfortable with the movements? >> almost all currencies have depreciated against the u.s. dollar partly reflecting u.s. monetary policy and the strength of the u.s. economy, so i think in itself that is not a concern. when you look at the exchange rate against other currencies, the singapore dollar continues to appreciate. monetary policy remains tight and has managed to down -- bring down inflation to 3%.

so it's mission is not accomplished yet, but it is on track. vonnie: the monetary authority of singapore speaking with haslinda amin. tune into bloombergradio to hear more from the day of las vegas against newsmakers and get in-depth analysis from the daybreak team now broadcasting live from our studio in hong kong. listen via the app, video plus, or bloombergradio.com. plenty more ahead. stay with us. ♪

haidi: -- vonnie: oil and gas market set for another volatile week of trading as israel ramps up its long anticipated ground invasion of gaza. su keenan joins us. big escalation obviously in geopolitical tension even as the same time as we are seeing oil prices decline in the asian session. su: it is a new phase of work, so you have an escalation of the risks. you have the war premium starting to fade. traders reassessing our oil will be affected, and at this point there is been no disruption in the supply of oil. if you look at the chart, note the drop in asian trading, but also the fact we saw nymex surge

almost 3% on friday as israel announced that they were stepping up their groundwork, and that it would be a long war against hamas. you saw the same pattern with brent spiking on friday and pulling back on asian trading, and volatility again has really been the biggest risk of this war. we have seen oil all over the map release since the start almost three weeks ago. over the weekend both washington and tehran warned the conflict could spread, and that is the number one concern that it spreads beyond the current region and pools and other countries by proxy, the u.s., iran is of concern. the u.s. sees an elevated risk of the regional spill over and they say they will keep the responsivity attacks on its troops by iranian proxies. iran has said the war may force

everyone to take action. so that is what the premium had been, but check out this a bloomberg chart. there are many saying direction question is an issue due to a number of factors including the fitting of the war premium. they see oil pulling back. trading statistics show bullish bets by hedge funds on the higher oil have fall into the lowest level in eight weeks down 8%, so you see bullish bets being reigned in as well. the one thing that would change that would be any disruption. a key waterway for shipments of oil through the mideast and that in the past any disruption there, and there was one in july recently tends to spike oil. any disruption would be worst case scenario. haidi: we have seen egypt with

their natural gas shipments grinding to a halt from israel. su: the cabinet of egypt saying it has fallen to zero, and that is a big problem from egypt -- or egypt -- for egypt. they get much of their natural gas from israel, and that they export that the europe, so this is dashing their hopes of resuming exports. they believe the halt has a lot to do with one of the first steps israel took after the attacks from gaza, from hamas on october 7, they shut down the oil fields run by chevron and wanted to make sure there were no incidents involving those fields. natural gas now in the spotlight as a result, and all traders continuing to closely watch the latest developments for how it may disrupt shipments.

they say that is going to ratchet oil prices higher. back to you. haidi: su keenan on the energy story at the moment. take a look at asian markets setting up for quite a bit of desiccation as we get into the start of the trading week. geopolitical tensions and volatility continuing to weigh in to a week of big central-bank decisions. we are seeing a mixed outlook depending on which asset class are looking at. sidney futures down .8 of 1%, flagging broadly weaker open across the region. still ahead, an exclusive conversation with the ceo ofsuntory spirits.

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