11 Oct, 23

Crude Prices Begin Retreat After Monday’s Surge

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Crude oil prices have begun to ease up after a nearly $4 per barrel spike on Monday following the Hamas attack on Israel and escalating tensions in the Middle East. The price of Brent crude oil shot up to $88.15 per barrel on Monday before retreating to $87.66 by Tuesday afternoon—but still substantially below the $94.36 per barrel that was witnessed on September 27. WTI prices were also starting to ease on Tuesday, trading at $85.95 (-0.51%) at 2:51 pm ET. Oil prices rose on Monday after the Hamas attack on Israel over the weekend that spooked…

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