The U.S. and Egypt are in talks over a potential humanitarian corridor for civilians in the Gaza Strip, as the Israeli-Hamas conflict enters its fifth day.
This is CNBC's live blog tracking developments on the Israel-Hamas conflict. See below for the latest updates.
Rippling into the financial sphere, the Israeli crisis could impact the oil markets, a top Russian official warned. Crude prices are typically sensitive to political turbulence in the Middle East, where much of the world's oil production is based.Israel is amassing troops at the border to the Gaza Strip in preparation for a potential ground incursion against Palestinian militant group Hamas, an Israeli military spokesperson said.
Roughly 900 people were killed in the Gaza Strip, with another 19 dead in the West Bank over the same period, according to the respective Health ministries of the two regions. Israel on Monday declared a"complete siege" of the Gaza Strip in retaliation for the Hamas attacks over the weekend, cutting off water, fuel, electricity and food supplies to the region and its roughly 2 million inhabitants.The current war between Israel and Palestinian militant group Hamas could affect oil markets, according to Russian Deputy Prime Minister Alexander Novak.
Crude prices have been bolstered by instability in the Middle East. Over the weekend, a terrorist attack delivered by Hamas struck Israel on nearly the 50th anniversary of the Arab-Israel war of 1973, which rattled oil markets through an Arab oil embargo against the U.S.Israeli forces killed 1,000 infiltrators from the Gaza Strip since the terrorist attacks of Palestinian militant group Hamas, a military spokesperson said, according to Israeli public broadcaster Kan.
U.S. President Joe Biden has pledged to provide"surging additional military assistance, including ammunition, and interceptors to replenish Iron Dome" to the Jewish state.
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