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عين ليبيا
Oil Prices Decline Amid Profit-Taking and US-Iranian Escalation Expectations
Oil prices retreated on Thursday after a strong rally, with West Texas Intermediate (WTI) futures for August delivery falling by 0.25% to $79.40 per barrel, and September Brent crude dropping by 0.48% to $84.54. Geopolitical risks continued to support prices despite the market's wait-and-see stance following the recent surge. Earlier, oil prices had risen by about one dollar amid concerns over potential disruptions in the Strait of Hormuz supply due to attacks, a key chokepoint accounting for about one-fifth of global oil trade.
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