Just like old times: oil prices spike on fears of widening war

Issue 1186 - 12 Apr 2024 | 4 minute read

Opec+ market discipline has fed into a rise in Brent crude prices to around $90/bbl, which is welcomed in Gulf capitals as an essential element in easing pressure on governments’ huge investment spending. Those higher oil prices are also driven by fears the Gaza war could spread into a much wider regional conflict that Gulf powers have been working to avoid

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