Bloomberg | Bloomberg | Getty ImagesOil prices jumped 4% as the Israel-Hamas conflict extended into its third day following a surprise attack on Israel by Palestinian militants Hamas.
At dawn on Saturday during a major Jewish holiday, Palestinian militant group Hamas launched a multi-pronged infiltration into Israel — by land, sea and air using paragliders.
Stock Chart Icon Stock chart icon Oil prices jump following Hamas attack on IsraelWhile there is a surge in crude prices, analysts believe it will be a knee-jerk reaction, and likely temporary.
Neither side is a major oil player.
"If western countries officially link Iranian intelligence to the Hamas attack, then Iran's oil supply and exports face imminent downside risks," Dhar said.
Persons:
Vivek Dhar, Mohammed Abed, Dhar, Donald Trump
Organizations:
Persian Gulf Star Co, Bloomberg, Getty, Hamas, Global, Brent, U.S . West Texas, NBC News, Palestinian Health Ministry, Israel, U.S . Energy Information Administration, Palestinian, Citi
Locations:
Bandar Abbas, Iran, Israel, U.S, Gaza, Commonwealth, Gaza City, Tehran