Crude prices rise on OPEC+ cuts, Iran-Israel tensions
S&P Global — April 14, 2024, 05:00 PM UTC
Summary: Crude prices have surged due to OPEC+ production cuts. Geopolitical tensions between Israel and Iran could disrupt market gains. Iran's recent drone and missile attacks on Israel may impact oil flows. OPEC+ predicts a supply deficit in 2024. Dated Brent reached $93.35/b. Iran's crude production rose to 3.12 million b/d. The US and OPEC+ have spare production capacity. The situation remains fluid, with potential for further escalation.
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