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Gulf exports boost Hormuz transit
Crude oil flows through the Strait of Hormuz are gradually increasing, despite ongoing security threats that cause fluctuations and instability. Currently, flows range between 6 and 8 million barrels per day, with some Gulf countries increasing their exports, while Iran continues to impose an export ban. The shuttle service model enhances the transportation of oil from the Gulf through points outside the Strait, supporting a decline in oil prices. Brent crude is trading around $88 per barrel, with expectations of continued downward pressure on prices due to increased supplies and reduced geopolitical risks.
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