Oil Prices Down at Midday; Calming Expected in Middle East
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Meanwhile, U.S. financial markets showed solid strength Friday morning after Thursday’s sharp decline in stock prices and follow-up declines on markets overseas.
After explosions – both thought to be terrorist attacks – rocked a U.S. Navy ship and the British Embassy in Yemen in the past two days, oil prices surged in response on both exchanges. However, oil has taken a downswing on reports that the United States and United Nations will bring Israeli and Palestinian leaders to a summit meeting in hopes of ending the Mideast tensions, Bloomberg noted.