Oil prices drop, Brent at $101.5
Oil prices have significantly fallen due to increased crude exports from the Middle East and the drawdown of oil inventories by the G7 countries, which offset concerns about damage to the Gulf's oil infrastructure resulting from tensions between the United States and Iran. Brent crude oil decreased by 66 cents to reach $101.59 per barrel, while West Texas Intermediate fell to $90.12. Price fluctuations continue between rises and falls due to geopolitical events and global supply dynamics.
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