"Oil Prices Drop as Israel Eases Gaza Presence and Middle East Tensions Ease"
TL;DR Summary
Oil prices fell after Israel reduced its troop presence in Gaza, with U.S. crude and Brent contracts dropping. Tensions between Israel and Iran raised fears of a regional conflict disrupting crude supplies, while Iran warned Israel of potential embassy targeting. Ukraine's drone attacks on Russian oil refineries also contributed to the rise in crude prices, amid tightening global supplies due to economic growth and OPEC+ production cuts.
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