Oil prices rallied while the dollar and yen advanced Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh concerns about tensions in the Middle East. 'But with Middle East analysts considering this to be a pivotal moment for Israel, the view looks incendiary in any current scenario.'
The surprise attack by Hamas on Israel at the weekend has sparked fears of a wider conflict in the oil-rich Middle East, sending prices of the commodity surging. Photo: MAHMUD HAMS / AFPOil prices rallied while the dollar and yen advanced Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh concerns about tensions in the Middle East.
The surprise attack and Israel's declaration of war in response to it have left more than 1,000 dead and raised concerns that a potential broadening of the conflict could draw in the United States and Iran. "Meanwhile, stocks tend to eventually recover and trend higher after an initial period of volatility. Safe-haven assets like gold and Treasurys, which initially see gains during such crises, tend to fade from their initial price spikes as the situation stabilises.
The yen, considered one of the safest currencies, strengthened against the greenback, though it still remains locked around 11-month lows.Equity markets were mixed, with Shanghai dropping on its first day back after a week-long holiday as investors continue to fret over the stuttering Chinese
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hamas attacks Israel: Al-Aqsa Storm vs. Swords of IronSouth Africa Today, News source, provides breaking news on South Africa, world, Africa, sport, travel and more.
Read more »
Israel and Gaza at war after Hamas launches surprise attackAt least 40 people were reported killed in Israel, while Gaza authorities reported a death toll of 198 in the bloodiest escalation in the Israel-Palestinian conflict since May 2021.
Read more »
Israel \u0027at war\u0027 as Hamas surprise attack claims at least 40 livesIsrael \u0027at war\u0027 as Hamas surprise attack claims at least 40 lives
Read more »
'Huge Mess': What's Known So Far About Hamas-Israel Armed Standoff?South Africa Today, News source, provides breaking news on South Africa, world, Africa, sport, travel and more.
Read more »
Israel and Gaza at war after Hamas launches surprise attackPalestinian militant group Hamas launched a large-scale surprise attack against Israel on Saturday, firing thousands of rockets from Gaza.
Read more »
What regional leaders had to say on Hamas\u0027 attack on IsraelWhat regional leaders had to say on Hamas\u0027 attack on Israel
Read more »