The Israeli-Hamas war has raised geopolitical concerns for financial markets, as investors await if it involves other countries that could raise oil prices and hurt the global economy.

Israel plans to let Gazans flee south as its troops prepare for a ground invasion on Hamas-controlled Gaza in reprisal for escalating Hamas violence.

Oil prices rose nearly 6% on Friday as investors anticipated a larger Middle East war.

An escalating conflict would likely accelerate inflation and global interest rates, but not in the US.

The Hamas-Israel confrontation is one of the biggest geopolitical hazards to oil prices since Russia invaded Ukraine last year.