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الدستور
Oil climbs as Strait of Hormuz uncertainty persists
Oil prices rose amid ongoing uncertainty over the reopening of the Strait of Hormuz, as Iran is negotiating with Oman to establish new shipping routes. Reopening the strait, however, requires meeting additional U.S. conditions. Futures for Brent crude increased to $84.79, while West Texas Intermediate rose to $79.29. Iranian officials speak of final stages in an agreement with Oman, but Iran insists that the strait will only be reopened once all U.S. requirements are fulfilled. Conversely, Washington has indicated that Iran has told them it will allow oil to pass without fees, and work continues on a secure navigation system. Oman has confirmed that the negotiations are positive and constructive.
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