The fear for investors is that if the Israel-Hamas conflict spreads in the region, it could disrupt supplies of crude.
A U.S. warship intercepted missiles coming from Yemen on Thursday, adding to tensions in the Middle East after Hamas attacked Israel almost two weeks ago.
Following the missile interceptions in Yemen, gold and oil rose. It came a day after President Joe Biden returned from Israel where he reaffirmed U.S. support for the country and argued the rocket that landed near a hospital in Gaza earlier in the week probably wasn’t fired by Israel.
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