European markets ended the day in volatility, influenced by declining oil prices and the looming possibility of economic sanctions on Iran. The probability of crude oil reaching a new all-time high by September 30 is now estimated at 1.7%, reflecting diminished confidence in price recovery. Financial analysts are closely monitoring geopolitical developments in the Middle East, particularly potential statements from OPEC and Saudi Arabia’s Energy Minister, Abdulaziz bin Salman Al Saud. These developments could have significant repercussions on oil-dependent economies.
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