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  • Aug 26, 2024

Oil climbs amid fears of escalation in Mideast tensions, countdown to US rate cuts

SINGAPORE (Reuters) -Oil prices extended gains on Monday on fears a major spillover in fighting from the Gaza conflict into the Middle East could disrupt regional oil supplies, while approaching U.S. interest rate cuts lifted the global economic and fuel demand outlook. Brent crude futures climbed 56 cents, or 0.7%, to $79.58 a barrel by 0615 GMT, while U.S. crude futures were at $75.40 a barrel, up 57 cents, or 0.75%. In one of the biggest clashes in more than 10 months of border warfare, Hezbollah fired hundreds of rockets and drones into Israel on Sunday, as Israel's military said it struck Lebanon with around 100 jets to thwart a larger attack.

  • Aug 26, 2024

Israel's economy is struggling. Economists say ending the war would help

In Haifa’s flea market, forlorn merchants polish their wares on empty streets. Nearly 11 months into the war with Hamas, Israel’s economy is struggling as the country's leaders grind ahead with an offensive in Gaza that shows no signs of ending and threatens to escalate into a wider conflict. Prime Minister Benjamin Netanyahu has tried to allay concerns by saying the economic damage is only temporary.

  • Aug 26, 2024

Its economy and infrastructure battered, can Lebanon afford a war with Israel?

The ferocious exchange of fire by Hezbollah and the Israeli military is raising fears of a regional war beyond the tense border. The risks for Lebanon are far greater than in 2006, when a monthlong war with Israel ended in a draw. Lebanon has struggled with years of political and economic crises that left it indebted, without a stable electricity supply, a proper banking system and with rampant poverty.

  • Aug 26, 2024

Oil Rises as Israeli Strikes on Lebanon Ratchet Tensions Higher

(Bloomberg) -- Oil advanced after an Israeli strike on Hezbollah targets in southern Lebanon raised tensions in the Middle East.Most Read from BloombergSydney Central Train Station Is Now an Architectural DestinationChicago Overcomes DNC Skeptics With Calm, Parties and SunNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityWith Housing Costs High, Democrats Hone YIMBY MessageGlobal benchmark Brent rose toward

  • Aug 25, 2024

Fed’s Powell Nods to Upcoming Strategy Review as Officials Prepare to Cut Interest Rates

(Bloomberg) -- In Jackson Hole this weekend, Federal Reserve Chair Jerome Powell outlined two priorities for the months ahead: keeping the US economy afloat while also taking a closer look at what went wrong over the past few years.Most Read from BloombergSydney Central Train Station Is Now an Architectural DestinationChicago Overcomes DNC Skeptics With Calm, Parties and SunNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherHow the Cortiços of São Paulo Helped Shelter South Americ

  • Aug 25, 2024

Oil’s Hot Summer Is Ending, Posing Risks for Majors and OPEC+

(Bloomberg) -- After a strong start to the summer, the outlook for oil prices is unravelling — leaving trading desks, supermajors and Middle East producers grappling with what comes next. Most Read from BloombergSydney Central Train Station Is Now an Architectural DestinationChicago Overcomes DNC Skeptics With Calm, Parties and SunNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherHow the Cortiços of São Paulo Helped Shelter South America’s Largest CityWith Housing Costs High, Dem

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