Oil prices rose slightly today after a poor performance last week, driven by Brent and West Texas Intermediate benchmarks. The increase follows China's unexpected interest rate cut to support the economy, easing concerns about crude demand by importers.
Geopolitical tensions in the Middle East, specifically fears of conflict in Gaza expanding, support oil prices. Despite ceasefire negotiation stumbles, there is optimism for an agreement, hinting at a broader regional war specter.
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