18 Hrs
Source:
وكالة بغداد اليوم الاخبارية
Oil flows may lower prices below $90
Forecasts indicate that oil flows through the Strait of Hormuz and the Bab el-Mandeb Strait will lead to a decrease in oil prices below $90 per barrel, as the security concerns and associated risks diminish. Currently, Brent crude is trading around $101, down 0.7%. It is likely that the stabilization of security conditions and the return of exports to their previous levels could open the way for increased oil supplies in the markets, which would put downward pressure on prices. These developments suggest a reduced impact of the US-Iran conflict on Gulf oil, with the United States potentially shifting its focus to the nuclear issue.
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