US Plans Sale of Up to 48 F-35 Jets to Saudi Arabia Amid Ongoing Supply Disruptions
The US State Department has notified Congress of a potential sale of up to 48 F-35 fighter jets to Saudi Arabia, valued at up to $24.3 billion. The proposed sale, first discussed several years ago, has raised concerns about access to advanced US military technology and the possibility of it being shared with China.
Saudi Arabia is seeking to offset supply disruptions caused by attacks on its East-West pipeline, which could return to service more quickly than expected. However, three pumping stations were damaged in an attack last week, and tanker traffic through the Strait of Hormuz has declined.
Gold prices rebounded sharply after falling to a near six-week low, while Bitcoin traded near $76,500 as US equities recovered from recent losses. JPMorgan analysts highlighted differences in institutional positioning between Bitcoin and gold, with gold ETF demand recovering more strongly.