Oil prices soared more than 4% this Monday, after the Islamic group Hamas launched a surprise attack against Israel on Saturday, raising concerns about supplies from the Middle East.
Brent jumped 4.7% to $86.65 (82.06 euros) and West Texas Intermediate rose 4.5% to $88.39 (83.7 euros) in early trading in Asian markets.
The Islamic group Hamas launched Operation “Al-Aqsa Storm” on Saturday, with the launch of thousands of rockets and the incursion of armed militiamen by land, sea and air.
In response to the surprise attack, Israel bombed several Hamas facilities in the Gaza Strip from the air, in an operation it called “Iron Swords.”
The attacks and the military response left hundreds dead and more than a thousand injured.
Israeli Prime Minister Benjamin Netanyahu declared that Israel is “at war” with Hamas.
Source: TSF
