Analysts fear that the ongoing conflict in the Middle East could disrupt the global supply of crude oil, which has driven prices upwards.
Despite the increase in crude oil prices, the international oil market remains well-supplied, which has moderated some impacts of price hikes.
The escalation of tensions in the Middle East intensified after an Israeli attack in Beirut and Iran's missile launch, raising risks for oil transport routes.
While supplies remain stable, future attacks on energy infrastructure in the Middle East could further worsen the situation and affect global oil prices.
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