24 Hrs
Source:
الوئام
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Oil prices jump above 101 dollars
Oil prices rose at the start of the week, with Brent crude increasing by more than 1.8% to reach $101.09 per barrel. This gains were supported by fears of escalation between Iran and the U.S., as well as Iran's President's speech at the United Nations, where he reaffirmed Tehran's pursuit of peaceful solutions and resistance to American pressures. Additionally, U.S. crude oil inventories declined by 3 million barrels. The rise follows a previous dip in Brent prices to $97.36, as markets await the possibility of a peace agreement between Washington and Tehran and the lifting of the Hormuz Strait blockade. Such a breakthrough would depend on Iran’s willingness to reopen the waterway in response to Washington’s adherence to Iran’s conditions.
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