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Oil and gas prices could rise amid Israel-Hamas war, experts say

World Bank officials report that oil prices could be pushed into ‘uncharted waters’ if the violence between Israel and Hamas escalates.

UNITED STATES, — Oil prices fell to their lowest level in two months despite a report last month from the World Bank that prices could rise as the war between Hamas and Israel intensifies.

“Everything trickle’s down to us, the consumer,” said driver Trey Lee, who makes sure to keep an eye out for lower gas prices.

 “Every time I see cheap gas I'm going to stop,” said Lee.

World Bank officials report that oil prices could be pushed into ‘uncharted waters’ if the violence between Israel and Hamas escalates.

“It does worry most people that this potential intensification, this war could result in bottlenecks in the supply of crude oil,” said Ronald Lee.

Oil and Gas Expert Jay Young of King Operating says right now things are steady but that could change as the demand for gas grows.  

“They’re going to start driving around for Thanksgiving and Christmas. So demand is going to go up. And that's what we're afraid of.”

Young believes any type of disruption and sale of crude oil caused by the war could have an impact globally.

“All the food that's being delivered to the restaurants or the supermarkets or wherever you buy, your food that's going to go up. So it affects everything,” said Young. “So, you know, we don't want to see $100 oil or $150 oil’”.

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