Oil Prices Steady, Supported by Middle East Supply Fears

August 06, 2024, 07.58 PM
Source: ReutersEditor: Wahyu T.Rahmawati

OIL PRICE - LONDON. Oil prices pared gains in volatile trade on Tuesday as fears of an escalation in the Middle East conflict and a drop in production at Libya's largest oilfield raised the prospect of tight supplies.

However, buying was capped by a weak demand outlook in China, while a global market recovery from a sell-off on Monday provided support.

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