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LONDON: 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-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.
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