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Oil rises as Middle East conflict deepens, gains capped by global supply outlook

By Economic Times - 2 months ago
Oil prices rose modestly amid Middle East conflict fears, driven by Israel's strikes on Beirut and Iran's missile attacks on Israel. Although U.S. crude stockpiles unexpectedly increased, indicating ample supply, concerns over potential disruptions persist. Experts suggest OPEC's spare capacity could offset supply issues if regional tensions escalate.

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