IEA: Oil Market “On Tenterhooks” Over Hamas-Israel War

The oil market is on edge over the escalation of geopolitical risk in the Middle East after this weekend’s attack by Hamas on Israel, with uncertainties about how events will unfold or how far the conflict could spread, the International Energy Agency (IEA) said on Thursday. “A sharp escalation in geopolitical risk in the Middle East, a region accounting for more than one-third of the world’s seaborne oil trade, has markets on edge,” the IEA said in its closely-watched Oil Market Report for October published today. Oil prices…