Crude oil prices showed signs of stabilization after declining more than -3% last week. While supply in Iraq and Libya are set to increase, news that the Kurdish government used military force to take control of 2 northern Iraqi oilfields raised uncertainty of the Iraqi situation. Escalated tensions in Gaza Strip with Israeli warplanes killing at 54 people in the area might support oil prices. Gold eased but continued to trade above 1330.
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Crude Oil Stabilizes after Last Week’s Selloff
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