How will the Israel Gaza conflict affect price of oil?

News Snapshot:

1. Sanctions enforcement There is a widely held belief in the oil market that the US has turned something of a blind eye to sanctions on Iran’s oil flows, allowing shipments to soar in recent months. That has helped keep a lid on oil prices in a market that has seen a huge loss of supply from Saudi Arabia, Russia and the rest of OPEC+. People walking on the street in Tehran, Iran. Reuters There is a chance that the US could take aim at this trade. The Islamic Republic currently sells the bulk of its crude exports to China,...