OSLO: The oil market is “on edge” over the latest crisis in the Middle East, the head of the International Energy Agency (IEA) Fatih Birol told an energy conference in Norway on Tuesday.

The war in Gaza between Israel and Palestinian group Hamas has not currently had a significantly effect on market prices, he added.

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However, “if one or more of the oil producing countries in the region is directly involved in the conflict, we may see the implications of that,” Birol said.