The price of oil rose to $88 a barrel Monday as the conflict in Gaza between Israel and Hamas showed no signs of abating, raising concerns about Middle East crude supplies.
By early afternoon in Europe, benchmark oil for December delivery was up $1.09 to $88.01 a barrel in electronic trading on the New York Mercantile Exchange. The contract added $1.05 to finish at $86.92 per barrel on Friday.
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