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Monday 9 October 2023

The Daily Money: Israel-Hamas war drives up oil prices

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Hamas's attack on Israel over the weekend pushed crude oil prices higher. Short term, experts say gas prices likely won't rise because of the conflict

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Mon Oct 9 2023

 

Paul Davidson Economics and Jobs Reporter

workers-on-an-oil-field.jpg

Workers on an oil field.

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Oil prices leaped Monday after Hamas attacked Israel over the weekend but experts say the conflict is unlikely to push crude and gasoline prices higher in the short term.

Although Israel and Palestine aren't big oil producers, investors worried the war could roil the broader region. Neighboring Saudi Arabia is a leading oil exporter.

Over the next 40 days or so, oil and gas prices are expected to fall following the summer driving season. Longer term, energy prices could rise if the fighting spreads to oil-producing countries.

Harvard's Goldin snags Nobel for work on women in labor force

A Harvard professor has won the Nobel Prize in economics for her work studying women's participation in the labor force and the gender gap between men's and women's earnings.

Claudia Goldin, the Henry Lee Professor of Economics at Harvard  University, found that the participation of married women in the labor market waned with the nation's transition from an agrarian to an industrial society, then grew along with an expanding service sector in the 20th century.

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The popular chain will also offer discounted donuts this Friday, Oct. 13, and a free donut to costumed patrons on Oct. 31.

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Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

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