Crude oil prices gained 2% earlier today after a missile strike on a hospital in Gaza killed about 500 people. Israel’s army and Hamas blamed each other for the attack. Oil market watchers, meanwhile, began worrying about an increased possibility of oil supply disruption from the region as the prospect of a diplomatic solution became rather remote. The latest indication for this was the cancelation of a summit between U.S. President Joe Biden and the presidents of Egypt and Palestine, to be held in Jordan. Jordan canceled the summit on Tuesday,…
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