Oil prices jumped more than 3% after members of the militant group Hamas launched a surprise attack on Israel from the Gaza Strip last weekend.
However, neither Gaza nor Israel produce much petroleum, so the overall effect on oil and gas prices is likely to remain limited — as long as no third parties from in or outside the region become involved, according to industry experts.
"The impact on the oil price will be limited unless we see the 'war' between the two sides expand quickly to a regional war where the U.S. and Iran and other supporters of the parties get directly involved," Middle East managing director of energy consultancy Facts Global Energy, Iman Nasseri, previously told CNBC.
More from Personal Finance:Widow lost $661,000 in a common elder fraud schemeWhy so many workers are striking in 2023How to vet a qualified tax preparer for next seasonAs long as the violence does not spread, oil and gas prices in the U.S. are likely to be unaffected.
Persons:
Iman Nasseri, Widow
Organizations:
Hamas, Global Energy, CNBC, Finance
Locations:
Israel, Gaza, Iran, U.S