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Weekly Market Recap – October 14, 2024

In late September, Israel launched an offensive into Lebanon against the Iranian-backed militant group Hezbollah. In response, Iran fired 200 ballistic missiles at Tel Aviv. Israel has vowed to retaliate. Along with devastating humanitarian consequences, further escalation could spike oil prices. While a sustained geopolitical premium does seem warranted, the impact on the crude market may be muted.


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