The Wall Street Journal

Oil prices, defence stocks rise as Israel-Hamas conflict rattles markets

Oil prices, defence stocks rise as Israel-Hamas conflict rattles markets
Energy prices rose on fears tensions between Hamas and Israel could escalate further after the weekend's surprise attack. (Image: Getty)
The Wall Street Journal
By Eric WallersteinOil prices and defence stocks climbed Monday after the worst attack on Israel in decades shook financial markets.Concerns that the Israel-Hamas war would escalate into a broader conflict in the Middle East that limits oil supply sent energy prices higher. Brent crude futures, the global benchmark for oil, added 4.2%. West Texas Intermediate rose 4.3% to US$86.38 (NZ$143.26) a barrel.Shares of defence contractors jumped as well. Lockheed Martin gained 8.9%, and Northrop Grumman climbed 11%, both posting their best days since M...

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