Oil dips amid ongoing Middle East tanker
Oil prices fell on Thursday as oil tankers continued to pass through conflict zones in the Middle East, despite escalating tensions and the ongoing conflict between the United States and Iran. Brent crude declined by 1.42% to $89.45 per barrel, and West Texas Intermediate decreased by 0.66% to $83.90, following strong gains on Wednesday. The region experienced an increase in ship passages through the Bab el-Mandeb Strait, while Saudi Arabia and the United States resumed security strikes against Iran-backed targets amid military escalation and gunfire at military bases in the area.
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