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Crude Oil Outlook: UAE Attack Drives WTI, Brent to 7-Year High

January 18, 2022

Via: DailyFX

Oil prices have reached the highest level since 2014 after the Yehmen Houti group used drones and missiles to set off explosions in fuel trucks in the UAE (United Arab Emirates).

With already rising geopolitical tensions between Russia and the Ukraine, the recent attack on the third largest oil producer raised concerns that further supply constraints could add additional pressure on already elevated energy prices.

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