💨 Abstract

On Thursday, oil prices rose as the Middle East conflict escalated, with Iran firing missiles at Israel and Israel attacking Lebanon. However, a build in U.S. crude inventories helped ease supply concerns and limited oil price gains. OPEC has enough spare capacity to compensate for a full loss of Iranian supply if needed, but there are concerns about potential retaliation and disruption to Gulf neighbors' installations.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖