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Oil dips as Hormuz shipments resume
Oil prices fell this Friday morning, heading toward significant weekly losses, after fears about supply were eased following the removal of stranded tankers from the Strait of Hormuz, despite an attempted cargo ship that was fired upon near Oman. Brent crude dropped to $75.07 per barrel, and West Texas Intermediate to $71.79, with shipping volume through the strait reaching its highest level since the start of the US-Israeli conflict with Iran, although activity remains below normal levels. Additionally, earthquakes in Venezuela raised concerns about supply disruptions, though direct damages were limited.
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