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Oil prices have fallen for the sixth consecutive time amid improving diplomatic prospects between the United States and Iran. Reports indicate progress in negotiations aimed at easing tensions over the Strait of Hormuz, a key passage responsible for approximately 20% of global oil supplies. An unprecedented three-hour meeting between American and Iranian officials in New York has generated optimism about the potential lifting of sanctions and the opening of the strait, although no final agreement has been reached. Additionally, Saudi Arabia has resumed operations of the East-West pipeline, which bypasses the Strait of Hormuz, thereby enhancing oil flows and reducing market risks. As a result, Brent crude prices dropped to $98.58 per barrel, and West Texas Intermediate to $89.38, with ongoing tensions continuing to impact global oil markets.
تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي
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