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Oil Sitting On Key Support - What to Watch This Week
Oil Drops Despite Middle East Conflict Oil prices are coming under pressure across early trading on Monday, despite an intensification of the Israel-Hamas war. Israel stepped up its advances into Gaza over the weekend with increased land and air campaigns. However, for now markets appear to be looking beyond the reports on the view that the conflict looks likely to remain contained. Although this view is keeping oil prices lower for now, the situation remains highly volatile and any sign of the conflict spilling over into a wider Middle East conflict should see oil prices firmly bid. Away from the news flow out of ... (full story)