As investors monitored the Israel-Hamas conflict for potential escalation, Brent oil futures remained above $90 a barrel. Oil prices surged nearly 6% on Friday as investors factored in the possibility of a broader conflict in the Middle East. The conflict between Israel and Hamas is seen as a significant geopolitical risk to oil markets, similar to Russia's invasion of Ukraine. The situation is unpredictable and could affect oil prices. The US has imposed sanctions on owners of tankers carrying Russian oil priced above the G7's price cap, which could reduce the supply of crude oil from Russia.
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00:00 It's Benzinga and here's what's on the block.
00:02 As investors monitor the Israel-Hamas conflict for potential escalation, Brent oil futures
00:06 remained above $90 a barrel.
00:09 Oil prices surged nearly 6% on Friday as investors factored in the possibility of a broader conflict
00:13 in the Middle East.
00:15 The conflict between Israel and Hamas is seen as a significant geopolitical risk to oil
00:18 markets similar to Russia's invasion of Ukraine.
00:21 The situation is unpredictable and could affect oil prices.
00:24 The U.S. has imposed sanctions on owners of tankers carrying Russian oil priced above
00:28 the G7's price cap, which could reduce the supply of crude oil from Russia.
00:32 For all things money, visit Benzinga.com.
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