Crude oil futures rallied by 4% late Oct. 8 after Israel launched attacks in Gaza in retaliation to a major surprise attack by Hamas militants on Oct. 7, adding new geopolitical risk into a market that was flagging amid fresh concerns over the health of the global economy. The unprecedented attacks came after crude futures markets had settled sharply lower on the week, dragging Brent prices down 10% since Sept. 28. Crude prices fell almost 6% onOct. 4 alone, in the biggest one-day sell-off since September 2022, ending a rally that began in June when fresh output cut pledges by Saudi Arabia and Russian pushed prices ... (full story)