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بوابة الوسط
Oil drops as Strait of Hormuz fears ease
Oil prices declined today, Thursday, as investors discounted the risk of escalating conflict between Iran and the United States and received positive signals regarding navigation through the Strait of Hormuz. Brent crude fell to around $79.64 per barrel, while West Texas Intermediate dropped to $67.67, amid increasing oil flows through pipelines outside the Strait and a rise in global supply, which led to an excess in the market.
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