As if prudence has anything to do with it.Oil prices have risen after a tanker owned by an Israeli billionaire was hit by a drone carrying a bomb off the coast of Oman.
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The United Kingdom Maritime Trade Operations, a military organisation that monitors shipping in the region, also said it was aware of an incident that was “being investigated”.
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The incident pushed oil prices higher but the gains were capped by concerns over rising Covid-19 cases in China. Investors are worried that the country’s strict lockdowns could dent demand for oil as travel is restricted.
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Stephen Innes, the managing partner at SPI Asset Management, said that after the initial “kneejerk rally in oil prices”, the tepid market follow-through reflected the “significant prudence that will be taken to avoid an escalation”.
Guardian
...but hey, do what you want...you will anyway.
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