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Crude oil prices rise on Mideast escalation fears, US rate cut expectations

Crude oil prices rise on Mideast escalation fears, US rate cut expectations

Aug 26, 2024, at 10:04 pm

London/IBNS: Crude oil prices climbed 1 percent on Monday (Aug 26) on renewed concerns that an escalating Gaza conflict could disrupt regional oil supplies, extending gains from Friday when the prospect of US interest rate cuts lifted the global economic and fuel demand outlook, reports Reuters.