"Potential Impact: Iran's Involvement in Hamas-Israel Conflict Could Trigger Oil Price Surge"

Pioneer Natural Resources CEO Scott Sheffield has warned that oil prices could significantly rise if Iran becomes directly involved in the Hamas-Israel conflict. While oil prices initially rallied following the attack, they have since fallen as the market believes the conflict will have no immediate impact on supply. However, if the conflict escalates to the point where Iran is no longer deploying only proxy forces, oil prices could surge due to the threat to global crude supplies. The future of such a surge depends on Israeli Prime Minister Benjamin Netanyahu's response and the evidence he has regarding Iran's involvement. The death toll in the conflict continues to rise, with clashes resulting in reported casualties.