Crude oil has seen significant losses, with Brent and WTI both falling over 1.6%. This decline persists despite a major drop in production from Libya.
Libya's oil export terminals are closed due to escalating political conflict, resulting in a reduction of 1.18 million barrels per day, intensifying these market concerns.
The Middle East remains geopolitically complex, as mutual attacks between Hezbollah and Israel did not escalate but contributed to a perceived state of balance in deterrence.
The US has increased its military presence in the region with 18 naval vessels, potentially influencing Israel's strategy in response to threats from Iran.
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