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• Oil falls, markets hold steady as Israel launches Gaza ground offensive
  Oil futures dropped Sunday night as markets saw a calm opening following Israel’s launch of a ground...
  Oil futures dropped Sunday night as markets saw a calm opening following Israel’s launch of a ground offensive in Gaza that drew implied threats from Iran amid market fears of a wider conflict that could disrupt global crude supplies.
  
  West Texas Intermediate crude for December delivery CL00 fell 84 cents, or 1%, to $84.70 a barrel on the New York Mercantile Exchange. December Brent crude BRNZ23 the global benchmark, was off 92 cents, or 1%, at $89.56 a barrel on ICE Futures Europe, dipping back below the $90-a-barrel threshold.
  
  U.S. stock-index futures ticked higher, with S&P 500 futures ES00 up 0.3%, while futures on the Dow Jones Industrial Average YM00 added 44 points, or 0.1%.
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• Oil reservoirs on fire in Komi Republic, Russia
  Several oil reservoirs in the Usinsk district of Russia’s Komi Republic caught fire on Sunday, 29 October....
  Several oil reservoirs in the Usinsk district of Russia’s Komi Republic caught fire on Sunday, 29 October. Early reports indicate that one Lukoil employee was killed and two sustained injuries.
  
  Lukoil-Komi, a branch of the Russian oil company Lukoil, reported that a reservoir near the village of Verkhnekolvinsk in the Komi Republic caught fire, allegedly as a result of a safety rules violation by a contractor.
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• The war’s ‘next stage’
  Israel announced it would attack Gaza from the air, land, and sea, expanding its war against Hamas days...
  Israel announced it would attack Gaza from the air, land, and sea, expanding its war against Hamas days after its tanks began an intense ground operation. The military again urged civilians to move south as troops have entered Gaza from the north (see where troops crossed the border).
  
  Benjamin Netanyahu called the troops’ arrival the “second stage” of the war and warned Israelis to expect a long, difficult fight. But he did not say that Israel had launched a full ground invasion. While the number of soldiers in Gaza remains unclear, a more limited initial ground war would align with recent suggestions from the U.S. defense secretary, The Times’s Eric Schmitt reports.
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• US monthly oil rig count rises for first time since Nov
  The U.S. monthly oil rig count rose for the first time since November after drillers...

  The U.S. monthly oil rig count rose for the first time since November after drillers added rigs for a third week in a row, in the report issued on Friday. The total oil and gas rig count, an early indicator of future output, rose one to 625 in the week to Oct. 27.

  
  

  U.S. oil rigs rose by two to 504 this week, while gas rigs fell by one to 117.  For the month, drillers added a total of two rigs, putting the total oil and gas count up for the first time since March.

  
  

  U.S. oil futures were up about 6% so far this year after gaining about 7% in 2022. U.S. gas futures, meanwhile, have plunged about 28% so far this year after rising about 20% last year.

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• Closing Oil & Gas Prices for Friday
  Benchmark U.S. crude oil for December delivery...
  Benchmark U.S. crude oil for December delivery rose $2.33 to $85.54 a barrel Friday. Brent crude for December delivery rose $2.55 to $90.48 a barrel.
  
  Wholesale gasoline for November delivery rose 5 cents to $2.31 a gallon. November heating oil rose 1 cent to $3.05 a gallon. November natural gas fell 5 cents to $3.16 per 1,000 cubic feet.
  
  
  
   
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