This week, crude oil prices experienced significant volatility driven by a mix of geopolitical tensions, supply disruptions, and economic concerns. The market’s direction was heavily influenced by events in the Middle East, fluctuations in U.S. economic data, and ongoing issues in Libya, culminating in a mixed outlook by week’s end. Mideast Tensions and Libyan Supply Disruptions Early in the week, crude oil prices surged by over 1% as tensions in the Middle East escalated, with fears that the ongoing conflict in Gaza might disrupt regional oil…
