US-OIL WTI 1W ‘Knee-jerk surge’

‘Knee-jerk surge’ Oil experts predict market impact of Israel-Hamas conflict

Both Israel and Palestine are not major oil players, but the conflict sits in a wider key oil-producing region, analysts said, warning that it has the potential to conflagrate further.

Crude oil prices could see a spike on Monday but the overall impact of the attack on Israel by Palestinian militants Hamas will likely be limited, energy experts.

That’s provided the conflict does not escalate further, they said.

Militants from Hamas — designated by the U.S., European Union, and the U.K. as a terrorist organization — infiltrated Israel by land, sea, and air on Saturday, during a major Jewish holiday. The incursion came hours after the Islamist militants fired thousands of rockets into Israel from Gaza.

Israel boasts two oil refineries with a combined capacity of almost 300,000 barrels per day.
According to the U.S. Energy Information Administration (EIA), the country has “virtually no crude oil and condensate production.” The Palestinian territories produce no oil, data from EIA shows.

It has the potential to widen into

Technically

The price is in a bullish trend for the long term while trades inside the channel because already did it a retest also

now from this point, 81.82 will try to reach 92.16 and then breaking 98.12 will reach 107.68

For any reason breaking 65.92 will support falling