Oil prices experienced a volatile swing on Thursday, initially dipping due to weak US economic data before rebounding on reassurances about the US economy’s strength and jitters surrounding the Israeli-Palestinian conflict.
Middle East Tensions
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Oil prices experienced a significant decline on Monday, dropping more than $1 a barrel as tensions in the Middle East eased. This welcome shift comes after Israel withdrew troops from the Gaza Strip and committed to engaging in renewed ceasefire talks with Hamas.