Oil Prices See Mixed Reactions Amid Middle East Conflict and Supply Concerns

Despite escalating tensions between Israel and Iran, oil prices remain volatile as market focuses on supply outlook and weak demand from China.

Oil prices jumped around 4% after Iran launched a missile attack on Israel, raising fears of supply disruptions.
Despite the Middle East conflict, oil prices have been pressured by weak demand growth, especially from China, and the prospect of increased supply from OPEC+.
Brent crude futures rose to $74.21 a barrel, while U.S. West Texas Intermediate crude climbed to $70.58, though both benchmarks have seen significant declines over the past quarter.
Analysts note that the current geopolitical tensions have not yet resulted in major physical supply disruptions, keeping prices relatively stable.
OPEC+ is expected to increase output by 180,000 barrels per day starting in December, adding to the market's supply outlook.