Oil Prices Begin to Climb as Traders Refocus on the Middle East

After losing virtually all gains made last week on Tuesday, oil prices started Wednesday’s trade with hesitant gains as traders refocused on the situation in the Middle East. The slump on Tuesday followed news that consumer prices in China had gone up less than expected, suggesting sluggish consumer demand and after the International Energy Agency revised down its global oil demand outlook for 2024 for the third time in a row…
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