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US crude futures fall 2.43%
Crude oil futures for U.S. grades declined by 2.43% at the close to reach $81.25 per barrel, due to expectations of weak global demand and rising U.S. oil inventories, which recorded the largest weekly increase since January 2023. Despite this, geopolitical tensions—particularly concerning the Strait of Hormuz and the disputes between the United States and Iran—continue to support oil prices amid ongoing threats to navigation in the region.
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