Markets on edge as Middle East turmoil rises

Declining crude prices got a 2.8 per cent shot in the arm following weekend’s Hamas though equity markets steadied quickly

Oil markets are expected to remain on tenterhooks as the crisis in the Middle East unfolds

Oil prices climbed and the US dollar strengthened early last week in response to the surprise attack from Hamas on Israel.

Early on Monday the price of Brent crude increased by 2.8 per cent to $87 a barrel. Prior to this, Brent prices had declined from around $97 per barrel at the end of September to $84 before the deadly attacks in Israel on Saturday, October 7.

However, a sharp escalation in geopolitical risk in ...