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WTI Oil in Focus This Week
Amid tensions in the Middle East, potentially disrupting oil supplies, the oil complex is an interesting market to keep an eyeball on at the moment. As of writing, escalation between Iran and Israel has been limited following attacks from both sides earlier this month. What is reasonably clear is that both nations are trying to prevent an all-out war, for now at least. Given Iran’s contribution to oil production (it provides approximately 3.3% of the world’s oil supply), further escalation may fuel a rise in oil prices (as well as gold prices and the US dollar on safe-haven appeal). A considerable bid in oil ... (full story)