💨 Abstract
Oil prices decreased slightly on Monday after a significant weekly rise, driven by Middle East tensions. Israel and Iran are escalating conflicts, with Israel bombing Hezbollah targets and Iran launching missile attacks. These events have led to fears of a regional war, causing oil prices to surge last week. However, the impact on oil supply is expected to be small, and OPEC has enough spare capacity to compensate for a full loss of Iranian supply.
Courtesy: theprint.in
Summarized by Einstein Beta 🤖
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