The Israel-Hamas conflict is getting worse, the oil market continues to be affected

<p>&nbsp;Israeli Prime Minister Benjamin Netanyahu remains stubborn in his position to continue operations in Gaza until Hamas is defeated. His actions have increased tensions in the Middle East region and angered the world community.</p><p><br /></p><p>The situation also has significant effects and implications for global crude oil trade. Especially the war situation affecting the shipping lanes in the Red Sea and the Gulf of Aden.</p><p><br /></p><p>The Danish shipping company, Maersk is still ready to resume their shipping operations in the Red Sea area under the support of Operation Prosperity Guardian led by the United States. The move comes after proposals to change the route due to safety concerns.</p><p><br /></p><p>The issue was further complicated when Iran denied allegations of drone strikes on the US Chem Pluto tanker. Statements by the Iranian Government regarding the involvement of helicopters and long-range missiles further increase security concerns in the maritime area.</p><p><br /></p><p><br /></p><p>Indirectly, this will affect the global crude oil trade route.</p><p><br /></p><p>In addition, the expected interest rate cut by the Federal Reserve (The Fed) next year has shown an impact on US data where the inflation rate is below their target of 2%. Lower interest rates have the potential to boost economic growth and increase oil demand.</p><p><br /></p><p>However, investors are asked to be more careful because analysts expect The Fed to take a 'hawkish' stance to control the inflation trend.</p><p><br /></p><p>Briefly examined as a whole, the situation of the crude oil market is currently still in a worrying situation due to a significant drop in prices.</p>