Latest Oil Market News and Analysis for Monday October 16 - Bloomberg
Latest Oil Market News and Analysis for Monday October 16 - Bloomberg
Oil Steadies as Israel-Hamas War Leaves Global Market On Edge
- US aims to curb wider conflict as Israel eyes ground invasion
- Brent trades near $91 a barrel after surging almost 6% Friday
Oil equipment near Midland, Texas. Photographer: Michael Ciaglo/Bloomberg
Oil traded in a narrow range, with Israel yet to launch its expected ground offensive of the Gaza Strip and the US stepping up efforts to prevent the crisis from becoming a regional conflagration.
Brent traded near $91 a barrel, after surging almost 6% on Friday to cap a sizable weekly gain. Over the weekend, US officials rushed to speak with Middle Eastern nations — including back-channel talks with Iran— to contain the conflict. Secretary of State Antony Blinken returns to Israel on Monday.
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Oil Steadies as Israel-Hamas War Leaves Global Market On Edge
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