Oil prices rose due to escalating Middle East tensions.

Oil prices climbed on Monday as tensions escalated in the Middle East following a drone attack on U.S. forces in Jordan and increased attacks on vessels in the Red Sea. This has raised concerns about supply disruptions and the possibility of a wider conflict in the oil-rich region. The attack on U.S. troops in Jordan and the recent strikes on vessels in the Red Sea have heightened tensions and led to a rise in oil prices.

January 28, 2024
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