Gaza op costs Israeli businesses $1 million daily


(JTA) — Israel’s military operation in the Gaza Strip is costing businesses and factories in Israel’s south about $1 million a day.

The Home Front Command on Saturday ordered the closure of all businesses and factories within about 3 miles of the Gaza border, Israel’s business daily Globes reported. About 80 factories were included in the order, according to the Israel Manufacturers Association.

The area encompasses the industrial zones of Sderot, Ashkelon and Netivot.
Meanwhile, the price of crude oil rose Monday for a second day following Israeli air strikes in Gaza, which raised concerns that oil supplies from the Middle East would be disrupted.

Oil prices soared to a record high in July 2006 after Israel attacked Iranian-backed Hezbollah forces in Lebanon, according to Bloomberg.

Recommended from JTA