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Brent crude dips modestly
Brent crude oil prices slightly declined today, Friday, after a sharp rise the previous day, with the price dropping by more than 0.8% to approximately $105.72 per barrel for November. This comes amid ongoing concerns in the Middle East. Since the beginning of the year, Brent has increased by over 70%, adding inflationary pressures and impacting fuel and heating costs. In the same context, the Iranian Foreign Minister announced that a plan to open the Strait of Hormuz within seven days has been offered to the U.S. government through mediators, provided certain conditions are met. The White House spoke of positive discussions between the two sides.
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