Hedge funds sell energy stocks before Middle East conflict - Goldman

© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermid/File Photo

The surge in oil prices followed the largest military assault on Israel in decades, with hundreds dead and several abducted. The eruption of violence on Saturday threatened U.S. efforts to broker a rapprochement between Saudi Arabia and Israel, in which the kingdom would normalise ties with Israel in return for a defence deal between Washington and Riyadh.

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