Oil prices have had a volatile week. At the beginning of the week, they were under pressure due to demand concerns.
As a result, Brent fell to a seven-week low of $78.5 per barrel on Tuesday. The losses were subsequently erased before prices slipped again yesterday, Commerzbank’s commodity analyst Carsten Fritsch notes. Oil prices have a volatile week “At the beginning of the week, oil prices were under pressure due to demand concerns. As a result, Brent fell to a seven-week low of $78.5 per barrel on Tuesday.
” “Hamas, Hezbollah and Iran have in turn announced retaliation. The US expects Iran to attack Israel in the coming days. Depending on how strong this attack is, Israel could retaliate again and the conflict could escalate further. If the conflict spreads, the supply of oil from the region could also be affected. At the very least, further attacks by the Houthi rebels on merchant ships and oil tankers in the Red Sea are to be expected.
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