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It’s one of the first maxims that oil traders learn, but over the last couple of weeks, that platitude has not played out as expected. Despite the ongoing conflict between Israel and Gaza (highlighted by Israeli forces recently moving into Rafah, a key city on the Gaza strip), oil prices have been in retreat since early April. In essence, markets are ...
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Greece’s Navy extended a series of exercises aimed at preventing tankers from transferring Russian oil just miles off its coastline. The navy said in a notice that it will be conducting exercises until May 19 in the Laconian Gulf, an expanse of water that’s become well-known in the oil market as a location for Russian oil switching. It had been due to ...