Thursday, October 3, 2024

Tensions are rising in the Middle East, but the rise in oil prices is muted – so far

The sun shines behind a refinery in the South Pars Gas-Condensate field in Asalouyeh Seaport in Iran. Iran

Crude oil prices have risen as Iran and Israel trade attacks, but not as much as you might expect. One reason? OPEC+ could pump a lot more oil if it wanted to.

(Image credit: SAEID ARABZADEH/Middle East Images)

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