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What’s next for the crude oil price after the escalation in Middle Eastern geopolitical tensions?...
02 Oct, 2024 08:48 77 min read
Crude oil prices rose to $70.96 (+1.66%) amid escalating tensions between Israel and Iran. The potential for a direct conflict could lead to higher prices, though supply from Libya and Saudi Arabia might offset losses. Historically, oil prices spike during Middle Eastern crises but eventually stabilize. Technically, oil must reclaim $72.50 to test the 200-day moving average at $77.50.... More