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Crude Jumps on Hezbollah Escalation Despite Stronger USD


Crude prices have ticked up compared to earlier levels after Hezbollah leader Hassan Nasrallah said that he will escalate its fight with Israel, raising concerns of a widening conflict in the Middle East.

  • Brent APR 24 down -0.1% at 82.74$/bbl
  • WTI APR 24 up 0.1% at 77.63$/bbl
  • The geopolitical tension has outweighed a jump in the USD following PPI data.
  • Initial reaction to the firmer-than-expected headline and core PPI data (which more than countered a skew from a handful of negative revisions) sees the BBDXY trade to fresh session highs.

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