France to recognize 'State of Palestine' in September at UN: French president

French President Emmanuel Macron announced on Thursday that France will officially recognize the State of Palestine during the upcoming 80th session of the United Nations General Assembly (UNGA 80) in September.

"The urgent need today is to end the war in Gaza and to rescue the civilian population," Macron said on his official X account. He emphasized the necessity for an immediate ceasefire, the release of all hostages, and the delivery of massive humanitarian aid to the people of Gaza.

Macron underscored the broader vision behind France's recognition of Palestine, saying, "We must build the State of Palestine, ensure its viability, and ensure that by accepting its demilitarization and fully recognizing Israel, it contributes to the security of all in the Middle East."

The Palestinian Authority welcomed Macron's announcement. Palestinian Vice President Hussein al-Sheikh on Thursday said the decision "reflects France's commitment to international law and its support for the Palestinian people's rights to self-determination and the establishment of our independent state."

In response, Hamas released a statement on Thursday night, saying Macron's announcement to recognize Palestinian statehood was "a positive step in the right direction toward achieving justice for our oppressed Palestinian people."

Meanwhile, Israel responded to the announcement sharply. Prime Minister Benajamin Netanyahu condemned Macron's decision in a post on X, calling it "such a move rewards terror." Many Israeli officials called for the government to take countermeasures immediately.

Oil prices fell on Thursday.

The West Texas Intermediate for February delivery dropped 2.83 U.S. dollars, or 4.56 percent, to settle at 59.19 dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery lost 2.76 dollars, or 4.15 percent, to settle at 63.76 dollars a barrel on the London ICE Futures Exchange.