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Oil prices settle mixed amid Middle East tensions

NEW YORK
2019-12-31 05:23

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NEW YORK, Dec. 30 (Xinhua) -- Oil prices settled mixed on Monday as traders digested news about geopolitical tensions in the Middle East.

The West Texas Intermediate for February delivery settled 4 cents lower at 61.68 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery rose 28 cents to close at 68.44 dollars a barrel on the London ICE Futures Exchange.

The Pentagon said on Sunday the U.S. military had carried out strikes against Iran-backed military group in Iraq and Syria, two days after a rocket attack on an Iraqi base leading to the death of a U.S. civilian contractor.

U.S. forces have conducted "precision defensive strikes" against three Kata'ib Hezbollah (KH) facilities in Iraq and two in Syria, Assistant to the Secretary of Defense Jonathan Hoffman said in a statement.

According to local media, at least 25 militia fighters were killed and more than 50 others were injured following U.S. strikes in Iraq.

Oil prices were supported following the airstrikes as traders speculated the military action would slow exports in the oil-rich region, experts noted.
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