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Oil drops 2% on supply hopes
Oil prices declined by 2%, marking their third consecutive session of losses, due to diminished fears of Saudi supply disruptions following reports indicating Saudi efforts to restart the East-West pipeline and resume oil transportation operations. This reduced concerns about regional disturbances. The price of Brent crude fell to $102.53 per barrel, while West Texas Intermediate reached $100.04, with markets expected to show clear signs of improved supply in the coming days, despite ongoing transportation risks in the region.
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