After Hamas' incursion into Israel on Oct. 7 jolted world markets, an oil surge has reversed, global stocks are now broadly flat and bets on a humanitarian crisis spiraling into a wider regional conflict seem to have faded. Israel agreed on Thursday to pause operations in northern Gaza for four hours a day according to the U.S White House but risks remain and heavy trading in a range of asset classes from weapons stocks to niche Middle East debt insurance suggest markets have not moved on from fear quite yet. Oil prices are below where they were before Oct. 7.
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