Oil Prices Climb Following Saturday's Rocket Attack on the Golan Heights

Crude oil prices started to trade this week with a gain as a rocket strike on the Golan Heights rekindled fears of a conflict escalation in the Middle East. Prices remain near a six-week low, per Bloomberg, but the trend is positive, with Chinese economic data alleviating concerns about demand in the world’s largest oil importer. The latest data was about industrial profits for June, which showed a monthly acceleration. “Concerns around China’s economy have broadly weighed on energy commodity prices,” Vivek Dhar, an analyst…