Oil prices remained largely unchanged after experiencing a significant decline due to conflicting signals. Factors such as rising stockpiles, tensions in the Middle East, and the reintroduction of US sanctions on Venezuelan crude have contributed to the uncertainty. While geopolitical tensions in the Middle East have impacted prices, weak US data and increased crude inventories have overshadowed these factors. The reimposition of US sanctions on Venezuelan Oil and the possibility of new sanctions on Iranian Oil have also influenced the market. Despite these fluctuations, Oil prices have remained higher this year due to supply cuts by OPEC members and geopolitical risks. However, the recent drop suggests that the market may have discounted the impact of Israel-Iran tensions. You Can Read Full News By Clicking On Below Link.
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