The ongoing conflict between Israel and the Palestinian group Hamas is currently viewed by oil and gas markets as a contained regional issue. However, concerns persist regarding the potential for escalation, particularly if other parties like Hezbollah in Lebanon or Iran become directly involved. Recent missile and drone attacks by Houthi rebels in Yemen, believed to be backed by Iran, have placed regional armed forces on high alert. Simultaneously, Iranian-supported militias in Iraq and Syria have been targeting American forces, adding to the…
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