Oil steadied after falling over the previous three sessions on signs that the Israel-Hamas war will remain contained for the time being.
Crude spiked in the initial stages of the war on concerns the conflict would escalate, potentially threatening exports from Iran and leading to attacks on tankers in key shipping routes. Those fears have ebbed in recent sessions, with growing calls within Israel to rethink the scope of a ground invasion of Gaza, although the risk of further disruption remains.
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