Helge Andr News Today

LONDON: The escalation of hostilities between Israel and Hamas could further strain global oil and gas supplies, already disrupted by Russias invasion of Ukraine, experts have warned.

Israel-Hamas War: Increases in oil prices in response to the conflict have so far been relatively mild. | World News

Oil prices have been increasing as a result of Israel-Hamas war

The escalation of hostilities between Israel and Hamas could further strain global oil and gas supplies, already disrupted by Russia's invasion of Ukraine, experts have warned. "Israel is not an oil producer and no major international oil infrastructure runs close to the Gaza Strip or southern Israel," Edoardo Campanella, analyst at UniCredit, told AFP. However, investors are conscious of the "Middle East tinder box's inherent risk to global oil supply.

Oslo’s plan to boost gas extraction to help Europe ditch Russian gas is a ‘strategic’ mistake, says the left-wing opposition.

Russian supply is getting kneecapped … but Chinese demand is equally in the toilet … where do prices go next? … watching the EU

Russia’s oil industry—a vital source of budget revenues—is already showing signs of slowdown as Western buyers shun Russian oil ...

Russia’s oil industry is being hit particularly hard by the West’s “buyers strike” as Moscow struggles to replace lost sales