Oil prices steady as Middle East crisis escalates

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Oil Prices,Middle East Crisis,Iran

Oil prices held steady in early Asian trading on Thursday after gaining a dollar a barrel in the prior session as investors braced for a worsening of the Middle East crisis, potentially involving Iran, the third-largest oil producer in OPEC.

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Furthermore, the region is on alert for possible Iranian retaliation over a suspected Israeli air strike on Iran's embassy in Syria at the start of the month. A Bloomberg report on Wednesday said the U.S. and its allies believe major missile or drone strikes by Iran or its proxies against Israel are imminent.

Oil Prices Middle East Crisis Iran OPEC Brent Crude Futures U.S. West Texas Intermediate Crude Futures Ceasefire Talks Gaza War

 

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