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Oil Advances as China Plans Economic Boost, Red Sea Risks Grow

Oil rose for a second day after top importer China said it would take steps to revive consumption by boosting incomes, and the US ordered fresh attacks on the Houthis in Yemen.



Oil prices increased due to China's plans to stimulate its economy and renewed US attacks on Houthis in Yemen, raising Red Sea risks. China will release policies to stabilize markets, raise wages, and boost birth rates. The US plans continuous strikes against Houthis until they stop attacking ships in the Red Sea. Despite this, Goldman Sachs reduced its long-term Brent oil forecast due to potential tariff escalation and increased OPEC+ production, though short-term recovery is possible.

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