{"id":142682,"date":"2023-10-10T01:21:55","date_gmt":"2023-10-10T01:21:55","guid":{"rendered":"https:\/\/theprojectsworld.com\/?p=142682"},"modified":"2023-10-10T01:21:55","modified_gmt":"2023-10-10T01:21:55","slug":"oil-prices-soar-after-israel-attack-and-it-could-hit-cost-at-pumps-in-two-weeks-the-sun","status":"publish","type":"post","link":"https:\/\/theprojectsworld.com\/lifestyle\/oil-prices-soar-after-israel-attack-and-it-could-hit-cost-at-pumps-in-two-weeks-the-sun\/","title":{"rendered":"Oil prices soar after Israel attack \u2014 and it could hit cost at pumps in two weeks | The Sun"},"content":{"rendered":"
OIL prices have soared after the Hamas attack on Israel \u2014 amid fears it could increase tensions across the Middle East and lead to shortages.<\/p>\n
Brent crude, the international benchmark for oil prices, leapt 5.2 per cent yesterday before steadying 3.8 per cent higher at $88 per barrel.<\/p>\n
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That\u2019s bad news for drivers, as petrol and diesel prices at the pump typically take two weeks to reflect higher wholesale costs.<\/p>\n
The sharp rise is a late sting in the tail for motorists.<\/p>\n
Oil prices had been falling steadily during September as investors reckoned higher interest rates around the world would start to reduce global demand.<\/p>\n
Israel is not an oil producer, but the resurgent Gaza conflict threatens disruption to supplies, experts have warned.<\/p>\n