Israel-Hamas Conflict: Oil Market Impact and Safe Haven Assets

Energy experts predict a potential knee-jerk surge in crude oil prices on Monday following the attack on Israel by Palestinian militants Hamas. However, the overall impact on the oil market is expected to be limited unless the conflict escalates further. While Israel and Palestine are not major oil players, the conflict is situated in a key oil-producing region, raising concerns about potential wider regional hostilities. Analysts emphasize that the conflict does not directly affect oil production or supply but warn of the potential for escalation and involvement of other parties.