Oil prices ease as aid convoys arrive in embattled Gaza Strip

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Oil prices ease as aid convoys arrive in embattled Gaza Strip
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Cooking Culinary Adventure: inspired by Halifax's Seaport Market | SaltWire #cooking #cookingshortsTOKYO - Oil prices eased on Monday as aid convoys started to arrive in the Gaza Strip over the weekend amid diplomatic efforts to contain a conflict between Israel and the Palestinian Islamist group Hamas from spreading to the wider oil-rich region.

For the past week, contracts rose more than 1% for a second consecutive weekly jump, on fear of potential supply disruption if the Israel-Hamas war grows into a wider confrontation in the Middle East, the world's biggest oil-supplying region. To ease supply pressure - already tight due to output cuts by the Organization of the Petroleum Exporting Countries and affiliates including Russia - the U.S. suspended sanctions on OPEC member Venezuela after a Venezuelan government deal with the opposition.

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