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Oil rises as Iran-Oman talks ongoing
An increase in oil prices is expected due to ongoing tensions in the region, especially in light of the Iran-Oman discussions regarding the rerouting of oil supplies through the Strait of Hormuz, as well as continued Houthi attacks on oil tankers in the Red Sea and the Gulf of Aden. Brent crude rose to $79.91 per barrel, and West Texas Intermediate to $75.58, amid fears that military activity could impact oil supplies and global market stability.
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