Why Isn't War in the Middle East Pushing Oil Higher?
The market appears stuck between the risks of a wider regional crisis and an uncertain global economic outlook.
Israeli soldiers patrol near the border with Lebanon in Northern Israel on Oct. 15.
Photographer: Aris Messinis/Getty Images
Welcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, Senior Executive Editor Will Kennedy looks at the price of oil as traders watch for a likely Israeli ground campaign in Gaza. To get this newsletter sent straight to your inbox, you can sign up here.
After a muted response to the outbreak of the Hamas-Israel war, oil picked up fast on Friday, gaining $5 a barrel to touch $91 in London.