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Bullish Bias For Crude This Week
Oil prices have started the week tentatively bullish with crude futures trading in the green across early European trading on Monday. While prices have softened from the highs initially seen on news of the conflict between Israel and Hamas, the ongoing risk of escalation is keeping prices underpinned around current levels. Fears of a wider Middle East conflict developing out of the war have so far fallen flat, leading to fall back in crude prices. However, with Israel also engaging Hezbollah along its Northern border with Lebanon, risks of a wider conflict emerging cannot be ignored. In light of this, oil prices ... (full story)