Middle East
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Oil slips as concern eases about Middle East supply risk
Oil slipped for a second day on Tuesday as easing concern about supply risks and a rapidly escalating conflict after Iran's weekend attack on Israel offset data showing China's economy grew faster than expected in the first quarter.
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Oil prices steady after drop as Middle East ceasefire hopes wane
Oil prices stabilised on Tuesday as prices ticked higher amid fading hopes that negotiations between Israel and Hamas would produce a ceasefire in Gaza.
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Oil slips after rally last week on Middle East, tight supply
Oil prices slipped on Monday as investors indulged in some profit-taking after both benchmarks ended last week about 6% higher on Middle East tensions and as refining outages squeezed refined products markets.
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Oil up on Middle East tensions
Oil prices edged higher on Tuesday following a more than 1% drop in the previous session as escalating tensions in major producing region the Middle East fuelled supply concerns, though a bleak Chinese economic outlook limited gains.
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Oil slides as Saudi price cuts counter Middle East worries
Oil prices fell by more than 2% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output, offsetting supply concerns generated by escalating geopolitical tension in the Middle East.
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World Bank warns oil price could soar to record $150 a barrel
Oil prices could soar to a record high of more than $150 a barrel if the war between Israel and Hamas leads to a repeat of the full-scale conflict in the Middle East witnessed 50 years ago, the World Bank has warned.
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Iran’s Persian Gulf Star Oil Refinery most modern in Middle East
SHANA (Bandar Abbas) – The Persian Gulf Star Refinery, the largest gas condensate and the most modern one in the world and the Middle East respectively, is located 25km west of Bandar Abbas, a port city in Hormuzgan Province, southern Iran.