Oil Steadies Near $86 After Initial Jolt From Israel-Hamas War
- WTI jumped 4.3% on Monday following surprise attack by Hamas
- China weighs new stimulus to meet economic growth target
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Oil steadied after the biggest jump in six months as markets digested the fallout from Hamas’s surprise attack on Israel over the weekend as well as the prospect of new economic stimulus measures in China.
Nearly 2,000 people have died so far as the conflict in Israel, which has the potential for wider geopolitical ramifications, entered a fourth day. West Texas Intermediate settled below $86 a barrel after jumping more than $3 on Monday.