(Bloomberg) -- Oil steadied after its biggest advance in more than a week, as traders tracked developments in the Middle East and the impact on demand of...
-- Oil steadied after its biggest advance in more than a week, as traders tracked developments in the Middle East and the impact on demand of China’s stimulus measures.Brent crude traded near $75 a barrel after rising 1.7% on Tuesday, with West Texas Intermediate above $71. Iran’s President Masoud Pezeshkian said that Israeli attacks in Lebanon “cannot go unanswered,” while also urging Western nations to come back to a nuclear accord and lift sanctions on his country.
Crude remains modestly lower this year, with the dour outlook in Asia’s largest economy and the prospect of higher supply from OPEC+ weighing on prices. The producer group on Tuesday doubled down on its outlier view that global oil demand will keep growing to the middle of the century. The stock market is acting well with the S&P 500 right at highs and the Nasdaq above 18,000. Nvidia and Tesla rival BYD jumped.Missouri man executed after two decades on death row
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