Oil Prices Rebound Amid Middle East Tensions and OPEC Meeting Anticipation
TL;DR Summary
Oil prices rebounded from last week's selloff, with West Texas Intermediate rising 2.7% to over $79 a barrel, amid escalating Middle East tensions including attacks in the Red Sea and Israeli military actions in Gaza. Geopolitical risks, inventory drawdowns, and OPEC's output curbs are contributing to the market's sensitivity, although crude flows from the region remain largely unaffected.
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