'Oil and natural gas prices have spiked amid fears of disruptions to supply of Middle Eastern oil and gas'. : The Israel-Hamas conflict has directly impacted oil and gas prices, gas operations in Israel and Egypt, and port operations in Israeli ports. That’s what Dryad Global Analyst Noah Trowbridge told Rigzone late Tuesday, adding that oil and natural gas prices have spiked amid fears of disruptions to supply of Middle Eastern oil and gas. “Brent crude futures, the international benchmark, has risen four percent to $88 per barrel,” Trowbridge highlighted.