where 260 people died. imagine yourself using a rocket that is meant to fire on houses or tanks fired on a group of 20 civilians. this is the scene live in gaza we ll bring you the very latest from both sides of the border. hello. welcome to bbc news. the conflict between israel and hamas has entered its fourth day. all indications seem to be that full size are preparing for a long and deadly struggle. this drone video shows the scale of destruction wreaked across the gaza strip over the past few days. israel s army claims to have hit a further 200 hamas targets in overnight bombing. israel has ordered a total siege to cut off water and food and supplies to gaza prompting criticism from the un chief antonio guterres. and calls for a humanitarian corridor to be set up. almost 190,000 people have been displaced and half a million are unable to get food rations. meanwhile israel says it has secured control of its border fence with gaza and has recovered the bodies of 1500 hama
more than 4,000 are injured. hamas says it ll kill hostages if air strikes are launched without warning. it refuses to negotiate their release. in all honesty, i try not to imagine, because it s too difficult, and these are the times where i break. and i don t want to break right now, because i want to keep pushing for the release of my mum and brother. more on those developments in a few minutes. time for a look at the business news now with ben thompson. let s start with the latest market reaction to the events unfolding in israel and gaza. markets have been on edge as they absorb the many potential ramifications from the conflict. israel s central bank moved to calm markets and stabilise their currency by saying it would sell up to $30 billion of foreign currency. the price of oil has been in focus jumping up by 5% on monday at one point but has since stabilised. but the big mover has really been us bonds with treasury yields falling the most since march as the
billion of foreign currency. but one of the biggest impacts globally has been on the oil pricejumping up by 5% on monday at one point it has since stabilized. here s sameer hashmi. joining me now is amrita sen, dounder and director of research at energy aspects. give us your sense of what is happening right now. prices are easing off a little but it is a wait and see mode, isn t it? absolutely. what the market is afraid of is a wider escalation in the region. obviously the market is focused on that and is worried about that. what the price reflect reflecting, around $88, is the unfounded fears from last week is that the initial us, israel, saudi diplomacy might lead to the cuts to happen earlier. the important events over the weekend definitely produce talks on hold, if not derailed them completely. that is why prices moved up completely. that is why prices moved up 4% yesterday. completely. that is why prices moved up 496 yesterday- up 496 yesterday. israel and gaza are not
fighting on israeli soil after retaking areas which hamas gunmen had been holding. it has now been ordered to begin a complete siege of gaza, which would cut off supplies of food, fuel, electricity, and also water. hamas continues to launch missiles from inside gaza at israeli towns. its military wing has threatened to start killing hostages, of which there are thought to be more than 100, if israel bombs more civilian houses in gaza without giving a warning. the numbers killed on both sides continue to rise. about 900 people have died in israel since the surprise attack was launched on saturday. palestinian sources say that almost 700 people have been killed in gaza by israeli air strikes. israel air strikes have continued through the night in gaza. israel says it has struck around 2,500 sites linked to hamas. this is the scene live in gaza on tuesday morning. as you can see, smoke rising and gaza is waking up after another night of pummelling. 0ur international editor, jere
major market reaction, and like you say we ve seen prices up over 4% fuelled by the conflict in the middle east and it comes after oil prices suffered the biggest weekly drop since march last week which was reversing a lot of the price action we have been seeing betweenjune and september this year which of course was because of supply constraints from saudi arabia and russia but this increase in geopolitical risk is providing a major tailwind to oil prices today and the big question really is the market is wondering whether there is iranian involvement in the attack which is something that has been alleged by the israeli authorities because if they are, the tensions are likely to have a more longer lasting upward impact if it were to negatively impact oil surprise and supplies in terms of pushing prices higher so it depends on that.- pushing prices higher so it depends on that. 0k, we have the sense depends on that. 0k, we have the sense of depends on that. 0k, we have