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Zenger
Zenger
World
Shanthi Rexaline

Middle East Tensions Ignite Crude Oil Rally Amid Gaza Rocket Attacks

Oil Middle East Gaza Hamas WTI Israel
Palestinians inspect the ruins of Watan Tower destroyed in Israeli airstrikes in Gaza city, on October 8. The surge in oil prices is not surprising, given the Middle East’s importance as a major oil-supplying region. MOMEN FAIZ/NUR VIA GETTY IMAGES.

Crude oil could break its two-day losing streak on Monday, rallying in the Asian session due to escalating geopolitical tensions in the Middle East.

In an unexpected development, the Palestinian militant organization Hamas, which controls the Gaza Strip, launched a series of rocket attacks on Israel over the weekend. 

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