Oil rises after Baghdad rocket attack jangles nerves
TOKYO - Oil prices steadied on Thursday a day after tumbling on concerns raised by an Iranian missile strike on Iraqi bases hosting U.S. forces.
“An 8% range in the last 24 hours has probably cleaned up all the short-term positioning, long or short, and left market participants a bit breathless,” said Jeffrey Halley, senior market analyst at OANDA. Still, he said, “our view remains that in the absence of actual losses from conflict with Iran, the market will see mild downward pressure in Q1 on inventory builds.”
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