Middle East Tensions Escalate Oil markets witnessed a significant surge this week, with WTI crude oil climbing 5.26%, its highest level since December. This rally is attributed to a combination of strong U.S. economic indicators and escalating tensions in the Middle East. Shipping disruptions in the Red Sea, intensified by recent incidents involving Maersk-operated ships and U.
S. military supplies, are heightening concerns over supply chain stability. Yemen's Houthi leader's declaration to target ships linked to Israel exacerbates the situation,…Geopolitical Risk and Economic Optimism Push Oil Prices Higher
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