Oil Drops After China Reopens as Traders Monitor Middle East

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Oil Drops After China Reopens as Traders Monitor Middle East
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(Bloomberg) -- Oil declined following a five-day rally as traders monitored hostilities in the Middle East, and the prospect for further stimulus from China ...

-- Oil declined following a five-day rally as traders monitored hostilities in the Middle East, and the prospect for further stimulus from China after the nation returned from a week-long holiday.For a Master of Brutalist Provocations, a Modest Museum Appraisal

China’s top economic planner is holding a press briefing on Tuesday to discuss a package of policies aimed at boosting economic growth in the world’s biggest crude importer. Chinese equities surged as trade resumed after the holiday and crude futures in Shanghai rallied to their upper limit. Traders are transfixed on developments in the Middle East after Iran’s missile barrage toward Israel raised fears about an all-out war. The region accounts for a third of global crude supply, and President Joe Biden has sought to discourage Israel from attacking Tehran’s oil fields.

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