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Oil rises on fears about Lebanon, further OPEC+ supply cuts

  • Oil prices increased on Monday due to demand optimism in China and ongoing tensions in the Middle East, as reported by the headline story.
  • Brent crude rose 0.11% to $72.42 per barrel, up from a previous close of $72.34, according to the report.
  • OPEC+ is expected to extend production cuts, possibly until the end of the first quarter of 2025, which could tighten global supply, as per sources.
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