"Middle East Tensions Trigger 4% Surge in Oil Prices Amid Gaza Evacuations"

Oil prices surged by 4% as tensions escalated in the Middle East, with Israel ordering mass evacuations in Gaza. Concerns of a potential ground invasion by Israel have raised the risk of disruptions to oil supplies in the region. The price of West Texas Intermediate crude for November delivery climbed 3.6% to $85.93 a barrel, while December Brent crude jumped 4% to $89.41 a barrel. Gasoline and heating oil prices also rose, while natural gas fell. Geopolitical risks and supply concerns are driving the increase in oil prices, but fears of a global recession may impact demand in the future.