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Saudi Aramco Restarts Ras Tanura Oil Loading
Saudi Aramco has resumed loading oil at Ras Tanura Port after a stoppage of nearly four months, amid efforts by Middle Eastern producers to boost exports despite security threats such as the Strait of Hormuz attack. Data shows shipments reaching high levels, but oil prices declined by more than a dollar due to increased supplies and Iran's expanded exports following the temporary lifting of sanctions. The market is experiencing a gradual balancing as Saudi Arabia's exports have decreased to around four million barrels per day amid security concerns and regional conflicts.
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