Oil prices flat with Israel-Hezbollah tensions in focus
Investing.com-- Oil prices were flat in Asian trade on Monday as a missile strike on an Israel-occupied territory ramped up concerns over a greater conflict with Lebanese group Hezbollah.
Israel and the U.S. blamed a missile strike on Israel-occupied Golan Heights on Hezbollah, media reports showed. The rising tensions saw traders attach some degree of risk premium to oil prices, especially in the event of a wider war between Israel and Hezbollah. Such a scenario could potentially disrupt crude supplies in the Middle East.China fears, Fed jitters keep oil on backfoot
Persistent concerns over top importer China, as it grapples with a slowing economic recovery, continued to weigh on oil, after sparking steep losses in crude over the past three weeks.
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