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Commodities

Middle East Tensions Sustain Brent Crude Prices Above $88

Guavy AI Editorial Team
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Oil
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Brent crude oil prices remain steady above $88 per barrel on Monday, maintaining the gains from last week due to ongoing tensions in the Middle East.

The market is cautious about potential supply disruptions as US-Iran relations continue to be a source of uncertainty. Conflicting reports regarding these relations are being closely monitored by investors, along with developments surrounding the Strait of Hormuz.

Over the weekend, Israel launched strikes on Lebanon that resulted in 11 casualties, including a senior Hezbollah commander. This escalation has added to the geopolitical tensions in the region.

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