OIL prices have jumped on concerns that the situation in Israel and Gaza could disrupt output from the Middle East. Brent crude, the international benchmark, climbed by US$2,25 a barrel to US$86,83, while US prices also rose.
Israel and Palestinian territories are not oil producers but the Middle Eastern region accounts for almost a third of global supply. Hamas’s assault on Israel was the biggest escalation between the two sides for decades. bbc.com