ANZ Bank: Geopolitical tensions push up oil prices, Middle East easing partially offsets risks

Golden data on November 20th, as geopolitical tensions intensified, oil prices surged, Ukraine launched its first attack on Russia using long-range missiles provided by the United States, and Russia expanded the conditions under which it could use nuclear weapons. Analysts at ANZ Bank’s research department wrote that this has once again made the risk of supply disruption in the oil market the focus of attention. On the other hand, the easing of tensions in the Middle East has to some extent offset the impact of the above factors. According to Reuters, Lebanon and the Hezbollah militia have agreed to a US-proposed ceasefire with Israel, but related negotiations are still ongoing.

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