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Barchart
Rich Asplund

Crude Prices Soar on Concerns About Escalation of the Israeli-Hamas War

Oil Israel United States Hezbollah

November WTI crude oil (CLX23) on Friday closed up +4.78 (+5.77%), and Nov RBOB gasoline (RBX23) closed up +10.03 (+4.63%).

Nov WTI crude oil and gasoline prices Friday rallied sharply, with crude soaring to a 1-week high.  Crude prices surged on concern the Israel-Hamas conflict may spread, potentially disrupting Middle East crude supplies.  The conflict could widen after the Israeli military urged evacuation of the northern part of Gaza in preparation for a possible ground invasion of the territory.

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