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EU trade flows recover after US-Iran deal
The European Union's Oil Coordination Group has reported that oil flows are gradually recovering following a preliminary agreement to ease tensions with Iran. However, a full recovery is expected to take some time. Despite oil prices dropping by nearly 2% at the start of the day, the market is experiencing temporary stability thanks to the release of global inventories, with Saudi Aramco resuming oil loading at Ras Tanura port after a four-month suspension. Nevertheless, transportation operations are still facing delays due to regional tensions, and it is anticipated that flows will continue to improve gradually as the situation continues to improve.
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