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Oil prices fall but expected weekly rise
The article discusses the global decline in oil prices despite achieving weekly gains of approximately 10%, due to escalating tensions between the United States and Iran. Brent prices have fallen by 3%, reaching $97.72 per barrel, while West Texas Intermediate decreased by 2.8% to $89.59, amid ongoing attacks and military strikes in the region. The U.S. military has carried out operations targeting Iranian targets in the Gulf area, focusing on leadership centers and maritime facilities, with the aim of reducing Iran’s threats to commercial shipping and the Strait of Hormuz. Reports confirm that the waterway remains open for navigation despite ongoing instability, which raises concerns about increasing inflation risks and higher energy prices resulting from these tensions. Additionally, statements from U.S. officials, led by Trump, indicate the possibility of launching a large-scale military attack on Iran if tensions persist, especially following the Houthi attacks—supported by Iran—on Saudi oil tankers in the Red Sea.
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