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Oil prices dropped by about 3% today, Friday, amid reduced concerns over supplies after oil tankers exited the Strait of Hormuz, despite a vessel carrying a cargo being hit near Oman yesterday, Thursday. Brent contracts fell to $72.76 per barrel, while West Texas Intermediate decreased to $69.77, with weekly losses expected to reach approximately 9.7% and 8.9%, respectively, amid growing doubts about the supply surplus in the market.
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