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Oil falls amid rising Middle Eastern exports

Oil falls amid rising Middle Eastern exports

Oil prices have slightly declined due to an increase in crude exports from the Middle East and the G7 countries' reduction of their oil reserves, which boosted market supplies and eased concerns about further attacks on Gulf oil infrastructure amid ongoing geopolitical tensions and military escalations. Brent crude fell to $101.59 per barrel, while West Texas Intermediate dropped to $90.12, following the G7's announcement to release 100 million barrels from reserves to meet demand, despite continued attacks on ships and energy installations in the region. This situation supports expectations of oil prices remaining above $100 per barrel, with potential risks to the stability of supply in the Gulf area.

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