💨 Abstract

Oil prices increased on Thursday due to concerns over a potential escalation in Middle East conflict, which could disrupt oil supply. The rise came despite a stronger global supply outlook and an increase in US crude inventories. Israel's attacks on Beirut and rising tensions with Iran have raised fears of a wider war, while the OPEC's spare capacity has tempered worries about disruptions. Market participants remain cautious, awaiting further developments.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖