Oil prices were plunging yesterday before reversing course as the market began to focus less on the decreasing risk from Iran and turned its attention to the Russian front. The bearish mood changed when reports emerged that Vladimir Putin had allegedly said talks with Ukraine were fruitless and that Russia was preparing to ramp up the war, including the use of ballistic missiles against Ukrainian cities.
Not only did this cause oil to reverse, but Russia’s threats to attack Ukrainian ports also...
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