KEY POINTS
  • The overall impact on oil markets from the attack on Israel by Palestinian militants Hamas will likely be limited, provided the conflict does not escalate further, energy experts said.
  • "We may see a knee-jerk surge in crude prices when markets open on Monday," Vandana Hari, CEO of Vanda Insights, told CNBC.
  • Both Israel and Palestine are not major oil players, but the conflict sits in a wider key oil producing region, analysts said, warning that it has the potential to conflagrate further.