The Globe and Mail reports in its Saturday edition that Hamas's invasion of Israel last weekend pushed oil prices up by almost $5 (U.S.) a barrel, sending jitters through energy markets and igniting dark thoughts of shortages and another round of nasty inflation. The Globe's Eric Reguly writes that the scare proved overblown. Oil sank soon after and traded at $89 (U.S.) a barrel on Friday, a few bucks above its prewar level but still well below its year peak. The war between Hamas and Israel has not unleashed an energy crisis on the heels of the one that erupted after the Russian invasion of Ukraine. While oil prices are high, Mr. Reguly says there is little sense so far that they could rise above $100 (U.S.) even if Israel launches a ground invasion of Gaza, which seems likely. On Friday, the Israeli military called for the evacuation of more than one million Gazans in the northern section of the strip. What remains unknown as of Friday, is how Iran and its regional proxies will react if Israel mounts a full-scale invasion of the strip. Bloomberg Economics estimates that a "confined" war would see oil prices rise by about $4 (U.S.), while a wider war involving Iran could shoot prices up by double that amount.