What's Keeping a Lid on Oil Prices
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Oil trading has seen some of its most volatile days in recent history as non-stop missile strikes exchanged between Israel and Iran ratcheted up fears of potential supply disruptions from the Middle E
The US president said he had not reached out to Iran to try and end the conflict as both sides prepared for another day of missile strikes.
The Indian rupee is likely to dip at the open on Tuesday, weighed down by rising oil prices and a decline in U.S. equity futures after U.S. President Donald Trump called for the evacuation of Tehran.
Shipowner Frontline said the incident near the Strait of Hormuz was due to navigational issues and not related to the current Israel-Iran conflict.
Rebecca Babin, senior energy trader at CIBC Private Wealth, joins ‘Squawk Box’ to discuss the oil market amid Middle East conflict, whether oil prices will rise, and more.
The costs of chartering tankers to move oil from the Middle East to Asia have climbed and ship bookings have slowed as the Israel-Iran conflict fuels worries of potential disruptions, industry sources told Reuters on Monday.
Crude oil futures finished down 1.7% to $71.77 a barrel, with oil under pressure as the latest source of turmoil in the Middle East may meet a quick conclusion.
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