Oil prices in Middle East

Brent crude oil prices have surged to $80 per barrel amid escalating tensions in the Middle East, particularly fears of an Iranian retaliation against Israel following the assassination of Hamas leaders. The U.S. military is increasing its presence in the region, deploying additional forces, which has further spooked markets. Positive economic data from the U.S. has also eased recession fears and may lead to increased oil demand, as Fed officials hint at possible interest rate cuts. Analysts suggest that the potential for conflict in the Middle East could disrupt global oil supplies significantly, contributing to price gains. Meanwhile, Nvidia has shown strong stock performance, boosting Wall Street, despite some analysts warning of potential pitfalls ahead in the tech sector. The overall market remains cautious with key inflation data looming this week, which could influence future economic outlooks.