20 Hrs
Source:
الاقتصادية
Oil drops third day amid easing supply worries
Oil prices have declined for the third consecutive day as concerns over global supply continue to ease, amid expectations that the East-West pipeline in Saudi Arabia will resume partial operations within days. Despite tensions in the Strait of Hormuz and the passage of oil tankers amid Iranian threats, prices are stabilizing. Brent crude fell below $104 per barrel, decreasing by 0.7%, while West Texas Intermediate declined to $101.38. These fluctuations come as markets await the outcomes of diplomatic efforts between the United States and Iran, with concerns that Iran's actions could impact global oil supplies. Tensions in the Middle East persist and continue to influence market dynamics.
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