let's bring in use of the melody and -- yousef gamal el-din. the aide has been a sticking point in congress and broad u.s. politics. what do we know? yousef: it is not clear how they will get to passing something that is meaningful. there has been a of structural upheaval in the u.s. house and the fact that you are getting some commentary now shows they are going to put everything behind their sort of leverage of power to make progress in the coming days although that is yet to be seen. we have seen many promises of additional aid to ukraine at the top level with the president, they consulted out -- that gets filtered out in the process. i want to talk about what oliver was talking about in terms of the egyptian president and what he has said in a televised beach. he said palestinians need to stay steadfast in their territory. egypt was the first arab country to normalize relations with israel. they have mediated before. the key thing to look out as a potential link between the u.s. and saudi and egypt may be additional resources are provided t

joining me now is yousef gamal el-din. what is the solution?that is the trillion dollar question when it comes to human life. every life lost is a life too many. we heard the passionate plea from the u.n. secretary general. we have some progress on the potential swap. if you agencies have reported to various degrees as to how many hostages -- a few agencies have reported to various degrees as to how many hostages might be released. we don't have any diplomatic breakthroughs about a cease-fire or an offramp. i was checking -- catching up with an intelligence firm who said there will not be progress because taking out hamas is the israeli objective. that will happen over time. host: a scary prospect. let's make a pivot to markets. off the back of this conflict we saw natural gas move today. >> the natural gas side of things a huge pop to the upside. the field had been temporarily suspended. this is a field operated by chevron. six fields if you break it down. six wells. does it not seem like a huge amount in the globally equation but europe -- eg

yousef gamal el-din reporting for us from dubai. still ahead, we are speaking with the former director general of israeli ministry of foreign affairs. later, a specialist shares his outlook on how geopolitical tensions translate to global markets. stick with us, interviews you don't want to miss. this is bloomberg. ♪ i'd like to thank stitch fix for always making me look great. for taking care of the shopping... so i can take care of this. i'd like to thank my stylist, now getting dressed is so easy. thanks for getting my fit just right. for finding me looks that work for me and my budget. for finding me my favorite pair of jeans. i'd like to thank stitch fix because, i look good. thanks stitch fix, you just get me. -they get me. -you just get me. and they'll get you, too. take your style quiz today. kriti: sources have told bloomberg president biden may visit israel soon, adding to the u.s. diplomatic push to contain the war with hamas, after the israeli prime minister vowed to destroy hamas as reparations for an expected ground in

yousef gamal el-din joins us now. what is the latest? what are the moving parts now? >> we are in day four and the violence and red showing no signs of abating -- violence and rhetoric showing no signs of abating. hamas saying they're willing to kill is really hostages. looking at the casualties. the total death toll exceeding 1600. 900 israelis, mostly civilians and 700 palestinians killed mostly during retaliatory strikes. keeping an eye on any movement in a comes to diplomatic efforts. the qataris are taking charge of maybe arranging a prisoner swap. to the north of israel, there have been skirmishes. idf reporting there could be some activity with militants crossing the border. we have different takes on what happened there along the border but it is something keeping both sides very nervous. >> and of course the finger is being pointed at tehran but the u.s. and israel say there is no direct evidence yet of tehran's involvement. it will be interesting to see if hezbollah does anything. >> iranian involvement is the critical point in the broader equation. at the m

yousef gamal el-din is there on location. what is the story so far? usef: it is all about the new volatility that has taken over the energy market. going into the conference, print was approaching $100 a barrel. we are below $90 as we speak. off the back of some of the signaling from that officials of that interest rates are higher for longer. that feeds into the energy trade through two mechanisms. you have stronger greenback and higher yields, but it is also much more expensive to store crude and to ship crude. ing out with a new note. they are making clear that this is not about fundamentals, not abougie demand, this is about what you are seeing in terms o repricing with u.s. treasury yields. in terms of my conversation with the uae energy minister, we are running up to a limit important gmmc meeting. my chat with him covered pretty much everything, but here is an important component on-demand. >> the last thing we want is to lose the demand. we, as producers, care a lot that the price is for consumers. but right for consumers for a limited time is

we are joined by yousef gamal el-din. lk us through the debate happening in the opec space right now. yousef: it was a rite of passage getting from the oil conference back to dubai. it finished very late and because it was so busy it felt like a pilgrimage making the right home. going into the joint ministerial monetary committee meeting, this is going to be about what is holding up. it has always been the concern of opec+ that demand is fragile and the recent move lower and brent and wti speaks to the narrative. we had a raise up to $100 almost and we have given back a lot of that. we are barely holding above $90 a barrel at the moment. the other wildcard as a sit down in the coming hours, even though no change is expected and russia and saudi arabia will lead with unilateral cuts until the end of the year, the real question is going to be how much more additional barrels are coming from countries like iran, and nigeria. i caught up with the energy minister of nigeria at the sidelines and here's what he had to say. >> rig

yousef gamal el-din ringing us the crucial update for the region. stay with us.e will be having updates throughout the hour but we will be speaking with hafsa halawa from the middle east institute about egypt and its role in the israel-hamas war. we will get a little bit more detail at about 6:30 a.m. london time. later, we are joined by former u.s. secretary of defense mark esper. that coming up on bloomberg surveillance. you can get everything you need to know on our top stories in a roundup of the other stories you need to get your day going in today' edition of daybreaks. all you have to do is type in da why bigo on your bloomberg terminal. there's a lot to digest, including the earnings story. we are already getting some of these european stories that are breaking. i want to start off with nokia specifically. they have, and said they are cutting up to 14,000 jobs to reduce some of their costs. they said it's a program to reset its cost base, saying this will help with longer-term growth, enable the market to navigate the current market uncertainty. when they

kriti: let's bring in yousef gamal el-din. what can you tell us about israel's hezbollah warning? there was expectation they would get dragged into this anyway. where are we with that? >> there has been escalation in the sharpness of rhetoric, especially from the level of prime minister of israel, netanyahu. you mention him a moment to go. the verbatim is that they would hit lebanon with a force that they cannot even imagine. it comes after the back of an eventful weekend, the tit-for-tat responses around the border area. at some point you are going to move out of the operating theater of relative normality. there are certain conditions where you could say this is not yet meaningful escalation and once you add new weaponry, antitank missiles over the weekend and more casualties, where is the line for either side that would be a major escalation and would warrant major response either from the israeli side or the side of hezbollah? fiery rhetoric is not going to help in the coming hours. the israeli government is also taking off some of its citizens from the northern border, evacua

yousef gamal el-din in out of dobby. more to come.his is bloomberg. ♪ >> look, we all have opinions. i've been saying for a year -- >> i want to know your opinion. >> 10-year rates at 5% or higher because of the embedded inflation. this structural inflation is unlike anything. i think business leaders and politicians are not providing the foundation to help explain this. we have not seen inflation like this in over 30 years. i was a young bond trader during the late 70's and we had hyperinflation. i don't think we will have anything close to the inflation of the 1970's that we have so much deeper structural inflation. we are underestimating the change in geopolitics, it is so structurally inflationary. when i was in davos earlier this year, i heard the phrase "national security" uttered everywhere. and i had never heard those phrases that often. national security for chips or food or energy. and all of these issues and the question is at what cost? nobody answers that question. >> there are a lot of calls of a recession and they've al