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Market Impact: 0.38
European Markets Rise As Oil Prices Fall On IEA Demand Cut
Source: Nasdaq
Energy Markets & PricesGeopolitics & WarInvestor Sentiment & Positioning
European equities closed firmly higher on Friday as oil prices fell sharply after the International Energy Agency lowered its global oil-demand forecast for the year. Market sentiment was also supported by expectations that Gulf foreign ministers could secure Iranian backing for a temporary de-escalation, easing geopolitical concerns around energy supplies.
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