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Oil Prices Swing Amid Middle East Conflict; Kinnevik Stock Drops

Economy & businessEconomy
Key Points
  • Oil prices swung sharply last week after Middle East conflict escalation.
  • Kinnevik's stock dropped after a short-selling report with little new news.
  • MacKenzie Scott has given away 240 billion kronor, unlike many ultra-rich.

The oil market experienced one of its most turbulent trading days ever last week, with prices swinging between sharp ups and downs over the course of less than a day. According to major media reports, the dramatic volatility came after the latest escalation of the conflict in the Middle East. In a separate financial event, Kinnevik plummeted on the stock exchange after a short-selling firm released a report about the company.

There was not particularly much news in the report about Kinnevik, according to major media sources. Meanwhile, Aftonbladet reports that the ultra-rich have become significantly richer in recent years without their giving increasing. In contrast, MacKenzie Scott, an author who was previously married to Amazon founder Jeff Bezos, has pursued a different path.

Nothing against this.

Traders, Traders

After her divorce in 2019, MacKenzie Scott began giving away a large part of her fortune. She has given away 240 billion Swedish kronor.

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Oil Prices Swing Amid Middle East Conflict; Kinnevik Stock Drops | Reed News