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Oil falls over dollar on rising supplies
The article discusses the decline in oil prices today, Friday, despite the ongoing trend of a monthly increase of nearly 20%, due to rising oil flows through vital maritime routes, even though negotiations between the United States and Iran have made no progress. Brent crude fell by $1.03 to $88 per barrel, and West Texas Intermediate dropped to $82.09, with expectations that the monthly rise will continue. The forecasts indicate that tensions in the Middle East, including Saudi Arabia’s support for a defensive coalition and threats from the Houthis in Yemen, are impacting oil supply routes, especially with the Houthis imposing a naval blockade on Saudi Arabia and threatening vital oil corridors.
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