Oil Prices Fall Amid Lackluster China Stimulus and Middle East Tensions

Oil prices dipped as China’s much-anticipated Finance Ministry briefing fell short of delivering new measures to boost demand. Brent crude fell over 1% to around $78 per barrel, while West Texas Intermediate (WTI) hovered near $75. While China’s government signaled support for its property sector, the markets were disappointed by the absence of fresh fiscal stimulus. Additionally, concerns over potential Israeli strikes on Iran, following recent Hezbollah drone attacks, added to market uncertainty. Brent has surged 9% this month, driven by fears that escalating Middle East conflicts could disrupt oil supplies, which account for about a third of global output.

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