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Oil Prices Surge on Geopolitical Uncertainty
Oil prices surged by over 3% yesterday, driven by escalating tensions in the Middle East. Ceasefire talks took a gloomy turn as Israeli Prime Minister Benjamin Netanyahu rejected the Gaza deal, deeming it “delusional.” This geopolitical uncertainty in the Middle East also fueled demand for the safe-haven asset, gold. Meanwhile, the U.S. dollar maintained strength above the $104 level, supported by robust economic performance in the U.S. and consistent hawkish comments from various Fed officials. Additionally, BTC prices surpassed $45,000 for the first time since the SEC approved the BTC ETF. The initial “sell ... (full story)