Oil prices have been volatile since the Israel-Hamas conflict began. Brent crude and West Texas Intermediate (WTI) have seen price increases due to concerns about potential disruptions to energy supplies. On 9 October, oil surged by over 4% as traders assessed the risk of the conflict spreading. Prices have fluctuated as the situation develops, with current prices hovering around $90 per barrel, driven by uncertainty about the war’s future.
Sinwar’s death raises the possibility of further regional unrest, which could lead to increased volatility in oil markets, with potential disruptions affecting key oil producers in the Middle East. Global markets remain on high alert, as any significant escalation could impact both supply and shipping routes, affecting oil availability and prices globally.