The recent attack by Hamas has garnered public praise from Iran and Hezbollah, Iran's Lebanese ally, escalating tensions in the Middle East.
Jacobsen stated, "Iran's oil production is on the rise, but any progress they make behind the scenes with the U.S. will be significantly undermined as Iran celebrates Hamas' horrific actions."
He added, "The most important thing to watch is how Saudi Arabia reacts." The U.S. is attempting to broker a normalization deal between Israel and Saudi Arabia.
David Kotok, Chairman and Chief Investment Officer at Cumberland Advisors in Sarasota, Florida, expressed concern over the current state of U.S. politics. With the Republican Party seeking a successor to ousted House Speaker Kevin McCarthy as a budget showdown looms, the political situation in the U.S. appears unstable.
Kotok noted, "I am very concerned about more explosive situations that require American resolve and America's defensive capabilities being compromised" due to the situation in Washington.
The praise for the Hamas attack adds further complexity to the geopolitical landscape, raising questions about the potential consequences in the region.
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