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Shengbao Bank: The response of crude oil to the conflict between Israel and Hezbollah is limited
Jinshi Data News on July 29th, Shengbao Bank’s head of commodity strategy, Ole Hansen, said that the market still believes that the broader Middle East conflict has limited risk to oil supply. The market continues to follow the recent demand outlook, with Brent crude and WTI crude falling to around $80 and $76 per barrel, respectively, attracting some speculative short positions.