19 Days
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الاقتصادية
Oil drops 2% ahead of US-Iran deal
Oil prices fell by 2% on Friday, recording the biggest weekly loss since April, after the United States and Iran reached an agreement to extend the ceasefire and lift restrictions on navigation in the Strait of Hormuz. Brent crude futures rose to $92.05 per barrel, while West Texas Intermediate (WTI) crude reached $87.36, with expectations that prices could rise to $90 as restrictions in the Strait of Hormuz continue. These developments caused the market to decline after weeks of drops, with Brent down 11% and U.S. crude down 9%.
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