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وكالة صدى نيوز
Oil falls on Hormuz hopes despite Ukraine escalation
Oil prices are dropping for the fourth consecutive day, driven by expectations of increased chances of reaching an agreement between Iran and Oman regarding the Strait of Hormuz, amidst easing U.S. sanctions and improved sentiments due to the decrease in escalation between Washington and Tehran. Meanwhile, tensions between Russia and Ukraine have escalated, threatening global energy supplies, as ports and refineries have been affected, prompting Europe to seek alternative sources such as Mexico. Currently, Brent crude is trading below $87 per barrel, with losses of more than 7% this week, amid market volatility and concerns over continued escalation in the Middle East and Northern Europe.
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