Here's what's happening in the latest Israel-Hamas war

Jerusalem: INTERNATIONAL ENERGY AGENCY SEES BAD NEWS FOR MARKETS FROM MIDEAST WAR Frankfurt: The Israel-Hamas war is affecting oil markets already stretched by cutbacks in oil production from Saudi Arabia and Russia and expected stronger demand from China, the head of the International Energy Agency said Tuesday.

“As we see the tensions in the Middle East, the market becomes much more jittery, and it is definitely not good news coming out of this crisis,” Fatih Birol, executive director of the Paris-based IEA, told The Associated Press. “We may very well see much more volatile prices, and it can push prices higher, which is definitely bad news for inflation,” he added. Developing countries that import energy would be the most affected by higher prices, Birol said. International benchmark Brent crude traded close to $90 per barrel on Tuesday, up from $85 on Oct 6, the day before Hamas attacked Israel.

Fluctuations last week pushed prices as high as $96. WFP WARNS FOOD ISIsrael-Hamas war RUNNING OUT IN GAZA Cairo: In addition to dire water shortages, Gaza is running out of food stocks with only a few days worth of supplies remaining in shops, the World Food Programme says. Shops only have four or five days' worth of essential food stocks available, said spokeswoman Abeer Etefa.

There is enough food in warehouses to last about two weeks, but these are difficult to access because they are located in Gaza City, where Israel has ordered residents to evacuate. Out of five mills in Gaza, only one is operating due to security concerns and the unavailability of fuel and electricity. Etefa said the primary challenge for WFP is being able to get food to shops amid the constant bombardment. Long lines have formed outside the few bakeries that are still able to operate.