Oil Holds Gain as Traders Weigh Outlook for Middle East Conflict
Oil held near recent highs as traders weighed the Middle East conflict, with Brent slipping below $89 and WTI near $83 after a near-6% two-session surge. A tenth day of US strikes and Iranian attacks on Kuwait were offset by mediators circulating de-escalation proposals, while a Houthi threat to blockade Saudi Red Sea traffic put about 2.5 million barrels a day at risk.
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