Global food prices reach 2022 peak
Global food prices in July rose to their highest level in three years, driven by climatic and geopolitical factors, according to FAO. Gold also reached a three-month high amid escalating tensions in the Strait of Hormuz, where the crisis in the strait pushed aluminum prices to a seven-week high. Iran has shown movements toward gaining control of the strait in response to U.S. escalation. Additionally, Gaza experienced Israeli shelling that resulted in six martyrs and injuries, along with new footage of Qassam leader Abu Ubaida being shown.
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