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Oil prices fall despite steady supply
Oil prices dropped by more than a dollar per barrel, despite continued flow of supplies through vital maritime routes, with monthly gains reaching approximately 20%. This occurs amid limited progress in negotiations between the United States and Iran, ongoing tensions in the Middle East, and increased maritime traffic through the Strait of Hormuz. Additionally, Saudi Arabia is seeking to bolster its naval defense cooperation in strategic corridors, amid threats from the Houthi group to impose a naval blockade on Saudi Arabia and the potential impact on global oil supplies.
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