Oil Prices Fall Back as Demand Concerns Return

Oil prices were dropping on Friday morning as traders returned to focus on demand concerns in the light of no immediate escalation in the Middle East following Iran's assassination of Hamas' political leader.Friday, August 2nd, 2024With the OPEC+ meeting failing to surprise the markets this week, the sudden escalation of geopolitical tensions after Israel’s strike in Lebanon and the assassination of Hamas leader Ismail Haniyeh in Iran could have sent oil prices soar. Instead, the lack of an Iranian retaliation and continuous demand…