Oil Prices Spike as Israel-Hamas Conflict Threatens Supply
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Oil prices surged nearly 6% on Friday as Israel vows to demolish Hamas and prepares move on Gaza.
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Investors are assessing impact of Israel-Hamas conflict on global oil supply if it draws in other countries.
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Conflict poses one of most significant geopolitical risks to oil markets since Russia's invasion of Ukraine.
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If Iran found to be directly involved, could result in full enforcement of U.S. sanctions on its oil exports.
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U.S. Secretary of State Blinken heads to Israel on Monday to talk about way forward after shuttle diplomacy.
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