💨 Abstract

Oil prices increased on Monday, with Brent nearing $80, driven by fears of a wider Middle East conflict and potential disruption to exports. The rise came after last week's steepest weekly jump since early 2023, due to the possibility of Israel striking Iranian oil infrastructure in response to an Iranian missile attack on Israel. The potential escalation of the conflict has countered mounting demand-side pressures.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖