Oil prices (CLN24) took a hit earlier this week, triggered by OPEC’s decision to ramp up production. However, prices swiftly bounced back from their four-month lows, as optimism surrounding anticipated interest rate cuts in the months ahead countered the negative sentiment. Apart from the optimism surrounding interest rate cuts this year, oil prices are finding support due in part to concerns stemming from the conflict between Hamas and Israel. According to the U.S. Energy Information Administration (EIA), ongoing geopolitical risks are expected to support the Brent crude oil spot price around…