Oil prices rise, stocks slide on fears of broader Middle East war

By Agence France-Presse

Oct 19, 2023 11:07 am

NEW YORK: Oil prices rallied and global stocks fell Wednesday on fears that the Israel-Hamas war could spill over into a regional conflict, after a strike at a Gaza hospital dealt a blow to President Joe Biden's diplomatic drive.

Crude futures briefly vaulted three percent higher as fears grew over broadening unrest that could destabilize the crude-rich Middle East, with some analysts predicting a possible return to $100 a barrel oil.

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