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Oil Prices Volatile Amid Economic and Political Uncertainty

Fluctuations driven by US interest rate concerns, geopolitical events, and OPEC+ supply policies

  • Oil prices have been fluctuating within a narrow range due to mixed market signals.
  • US Federal Reserve officials' comments on interest rates are impacting demand forecasts.
  • Political instability in major oil-producing countries, including Iran and Saudi Arabia, adds to market uncertainty.
  • OPEC+ is set to review its production policy at an upcoming meeting, with potential supply adjustments on the horizon.
  • Weak refining demand and ample supply are contributing to the current market softness.
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