Oil prices tread water after wiping out more than half of October's gains

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Oil prices tread water after wiping out more than half of October's gains
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Joseph Adinolfi is a markets reporter at MarketWatch.

Oil prices were treading water early Wednesday after falling for three straight sessions and wiping out more than half of the gains that followed the start of the Israel-Hamas war.

“The fears of a further escalation in hostilities between Israel and Hamas remain, but have lost some of their intensity,” said David Morrison, senior market analyst at Trade Nation, in emailed commentary.

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