10 Oct, 23

Hamas Attack Brings Middle East War Premium Back To Oil Markets

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War premium returned to the oil market on Monday after the weekend attack by Hamas on Israel, which upended—again—the geopolitical landscape in the world’s most important oil-exporting region, the Middle East, and buried hopes of an imminent Saudi-Israel rapprochement that could ease the tight oil market.     The Hamas attack on Saturday took place just as several Middle Eastern countries, including the large oil producer the United Arab Emirates (UAE), had started to normalize relations with Israel. The U.S.…

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