Posted 2/2/2024, 1:30:00 PM
Oil Prices Swing on Israel-Gaza Ceasefire Rumors and Iran Tensions
- Oil prices volatile on Thursday, falling on rumors of Israel-Hamas ceasefire deal, then recovering when rumors removed
- Markets sensitive to rumors, making them extremely volatile
- Tensions with Iran following death of 3 US soldiers, blamed on Iran-backed militias
- Biden determined response, officials confirm targeted attacks on Iran proxies
- Attacks by Iran-backed militias suspended under pressure from Tehran and Baghdad