Key Points
LONDON (Reuters) -Oil jumped over 2% on Tuesday to the highest in almost a month, supported by Middle East strife and investor optimism that the U.S. Federal Reserve would soon start cutting interest rates, boosting global economic growth and fuel demand...
The rally, in thin trade with some markets closed for public holidays, added to last weeks gains of about 3% after Houthi attacks on ships disrupted global shipping and trade while the Israel-Hamas conflict shows no sign of easing...
Brent crude futures were up by $1.79, or 2.3%, at $80.86 a barrel by 1453 GMT and earlier reached $81.23, the highest since Dec. 1..
The lack of oil supply disruptions is offsetting the support to prices from ongoing geopolitical tensions in the Middle East, said UBS analyst Giovanni Staunovo...
Two explosions in the Red Sea were reported by a vessel sailing off the coast of Yemen on Tuesday shortly after two unmanned aircraft were sighted, a British maritime authority said...
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