Hamas Attack on Israel Raises Oil Prices Briefly Before Retreating as Iran Stays Uninvolved

Hamas attacked Israel over the weekend, briefly causing oil prices to rally before retreating again.

Pioneer Natural Resources CEO Scott Sheffield warns oil prices could spike significantly if Iran gets directly involved in the Israel-Hamas conflict.

Oil prices are currently around $86/barrel after the initial rally and retreat over the weekend.

Israel has struck Hezbollah targets in Lebanon after suspected airspace breaches.

U.S. intelligence indicates Iran was surprised by the Hamas attack on Israel.