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Oil Plunges as Israel Delays Gaza Ground Invasion
Oil plunged the most in more than two weeks amid signs Israel is rethinking the scope of a potential invasion of Gaza, at least temporarily containing the conflict in the Middle East. West Texas Intermediate settled below $86 a barrel on Monday after a volatile session that saw prices drop 2.9%, the biggest decline since Israel was attacked by Hamas. Israel appeared to hold off on its widely expected ground offensive into the Gaza Strip to buy time for the release of hostages. Additionally, a group of 27 European Union leaders aims to endorse a “humanitarian pause” to distribute aid in Gaza. Brent prices are ... (full story)