Today, 19:15
Authors:
Arthur Olszewski (LTV News Service)
Brent crude fell as Israel postponed a ground invasion of Gaza until at least the end of this week.
The conflict between Israel and the terrorist group Hamas has little direct impact on the oil market, but speculation about whether Iran will get involved in the conflict is driving those prices.
Oil market experts indicate that oil prices could rise, and therefore the price of fuel could also be expected to rise.
Last week, the price of diesel fuel was about three cents higher than that of gasoline of the 95th mark. This is explained by the insufficiency of diesel production capacity in Europe.
CONTEXT:
Militants of the Palestinian Islamist group “Hamas” launched a surprise attack from the Gaza Strip on the morning of October 7, firing several thousand rockets and infiltrating several places in Israel. Hamas and its allies have also seized hostages taken to the Gaza Strip.
The invasion took Israeli intelligence and security forces by surprise. Israel has officially declared martial law. In response to Hamas, Israel launched extensive air and artillery strikes against Hamas targets in the group’s controlled Gaza Strip. Israel implements a complete blockade of the Gaza Strip, cutting off electricity and water supplies to the territory.
For a long time, the delivery of humanitarian aid through the Rafah border crossing in the north of the territory was also denied in the war-affected territory. Since October 21, a small number of trucks have entered the territory with aid to Palestinians living in the Gaza Strip, but the import of fuel and water filtration systems is prohibited.
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2023-10-27 16:17:15
#oil #market #fluctuates
