Oil Prices Fluctuate on Israel-Hamas Violence and Growing Inventories

Oil prices surge early in the week after Hamas attacks Israel, but the geopolitical risk premium cools as nations move to contain violence.

Large inventory builds reported by EIA and API add downward pressure to oil prices.

Brent crude set for modest 2.3% weekly gain, WTI to rise just 0.8% for the week.

U.S. investigating if Iran involved in planning Hamas attacks, cancels $6 billion transfer, adding to oil's upside.

While markets remain tight, demand concerns and growing inventories weigh on prices amid economic uncertainty.