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Oil falls over 1% as concerns about Mideast supply ease – Reuters | Oil Prices Drop Over 1% on Monday as Concerns Ease over Middle East Conflict and Market Cautious Ahead of US Federal Reserve Meeting

Oil prices experienced a decline of over 1% on Monday, attributed to eased concerns regarding potential supply disruptions caused by the Israel-Hamas conflict in the Middle East. Additionally, investors exercised caution ahead of the upcoming U.S. Federal Reserve meeting and other indicators of global economic conditions.

On October 30, in London, oil prices slipped by more than 1%. This decline in oil prices can be attributed to the reduced market worry concerning the Israel-Hamas conflict impacting oil supply from the region. Market participants also exercised caution in anticipation of the upcoming U.S. Federal Reserve meeting, as well as other indicators that will shed light on the overall health of the global economy.

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