Oil jumps to $111 a barrel on Gaza war fears. How much will it jump to when Israeli tanks roll across the border with turrets blazing?

In London trade, Brent North Sea crude increased $2.75 on Monday, closing at $111.70 a barrel for delivery in January, AFP reported.

“The ongoing conflict between Israel and Palestine, which has stoked fears about supply of oil across the Middle East region, continues to provide the main source of support to prices,” GFT Markets analyst Fawad Razaqzada said.

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