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الوئام
Oil reaches best monthly gain since March
Oil prices increased by more than 1% at the end of July, recording their best monthly performance since March. This was supported by fears of a decline in global supplies due to disruptions in the Strait of Hormuz, where tankers were forced to reroute or changed their paths. Additionally, US oil inventories fell to their lowest levels since 2018, amid ongoing declines in American oil production and exports. Regional tensions also heightened, with incidents such as ship fires in the Port of Damietta and concerns over navigation safety, adding pressure on oil prices. Markets remain closely watchful for any new developments that might impact supply.
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