Bloomberg: oil prices jumped on the back of events in the Middle East

Oil prices surged amid events in the Middle East.

Bloomberg reports.

Oil rose to the highest level since the beginning of this month and trades at prices above $ 86 per barrel.

It is noted that the consequences for the markets will be determined by whether the Israeli-Palestinian conflict will spread to the rest of the Middle East region.

On 8 October, the military-political cabinet of Israel approved the introduction of “paragraph 40” of the Basic Law, which means a formal declaration of war.

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