23 Hrs
Source:
الاقتصادية
Oil drops as US-Iran tensions ease
Oil prices fell today, Friday, amid a decrease in tensions between the United States and Iran. Brent crude dropped to $93.09 per barrel, while West Texas Intermediate fell to $90.54. Expectations remain that the conflict will not escalate, and that port operations at Fayhel in Oman will continue normally. Both benchmarks also recorded their first weekly gains in three weeks, despite Iranian oil exports reaching their lowest level in six years due to U.S. sanctions. Additionally, forecasts indicate an increase in oil demand by 1.2 million barrels per day during the year.
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