Event
BBC, October 11, 2023
Oil prices have jumped on concerns that the situation in Israel and Gaza could disrupt output from the Middle East Brent crude, the international benchmark, climbed by $2.25 a barrel to $86.83, while US prices also rose.
Israel and Palestinian territories are not oil producers but the Middle Eastern region accounts for almost a third of global supply. Energy analyst Saul Kavonic told the BBC that global oil prices have risen
“due to the prospect of a wider conflagration that could spread to nearby major oil-producing nations such as Iran and Saudi Arabia“.
Mr Kavonic said that about a fifth of global supply would be “held hostage” if passage through the Strait of Hormuz, a vital oil trading route is disrupted. The Strait of Hormuz is crucial for the main oil exporters in the Gulf region, whose economies are built around oil and gas production.
Comment
As well as expecting Hezbollah to join the conflict (as the inhabitants of Tyre in Psalm 83) we also expect Iran to create increasing trouble as well. Iran has threatened to lay siege to the Strait of Hormuz. 20% of the entire world’s oil supply is shipped through this narrow stretch of water which is bordered by Saudi Arabia and Iran. The turmoil this would cause on the world’s energy markets is hard to underestimate. If the Israel conflict gets worse and the surrounding people are dragged in then it is highly possible Iran could inflict damage to the world through besieging this area.
Incredibly the Bible says this will happen in Isaiah 21*. We read of a treacherous deal being done and then Elam and Media rising up and besieging ”the desert of the sea”. Elam borders the Strait of Hormuz. The desert of the sea therefore is this area. Iran will besiege and they have said they will do so. Isaiah saw a great time of trouble for the world when this happens.
Bible Quote
The burden of the desert of the sea. As whirlwinds in the south pass through; so it cometh from the desert, from a terrible land. A grievous vision is declared unto me; the treacherous dealer dealeth treacherously, and the spoiler spoileth. Go up, O Elam: besiege, O Media; all the sighing thereof have I made to cease. (Isaiah 21:1-2)
Weekly World Watch, Andy Walton
*
This chapter contains prophecies against Babylon, Edom and Arabia.
Isaiah 21 is a part of the Prophecies about the Nations (Isaiah 13–23).
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