Oil Prices Surge Amid Escalating Gaza Conflict and Saudi Price Hikes

Renewed tensions in Gaza and strategic price adjustments by Saudi Arabia drive oil market fluctuations.

Oil prices rise as Saudi Arabia increases June crude prices across most regions, signaling strong demand expectations.
Escalating conflict in Gaza, with Israel intensifying operations in Rafah, fuels geopolitical uncertainty in oil markets.
Investors weigh potential impacts of a prolonged Israel-Hamas conflict on Middle Eastern oil supply chains.
U.S. and global oil benchmarks recover slightly after experiencing significant losses in the previous week.
Market analysts monitor ongoing ceasefire negotiations and regional demand indicators to forecast future price movements.