Crude prices stabilize amid Middle East uncertainity, Venezuela sanctions talk
Investing.com -- Oil prices steadied Tuesday after the previous session’s selloff as traders keep an eye on developments in the Middle East as well as the potential for additional supply from Venezuela.U.S. President Joe Biden is set to the Middle East later this week in a likely attempt to contain a regional escalation of Israel’s war with Hamas.
This has put the situation on hold for a day at least, delaying worries that an Israeli ground invasion into Gaza could draw other regional countries and groups into the war, and resulting in a tight trading range.
The U.S. government has been seeking ways to increase the flow of oil to world markets to alleviate high prices.increased more than expected in September, suggesting the largest economy in the world, and biggest oil consumer, ended the third quarter on a strong note.
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