Brent Oil Falls Over 1 Percent
Brent crude futures declined by more than 1% to around $76.8 per barrel, following improved oil flows through the Strait of Hormuz and a reduction in fears over global supplies. This came after indications of progress in diplomatic efforts and a relative easing of tensions in the markets, with shipments of oil resuming and shipping activities recovering in the region. Markets are still cautious regarding geopolitical developments, despite the diminished immediate concerns.
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