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الاقتصادية
Oil dips amid easing Middle East supply worries
Oil prices declined today, Thursday, due to reduced fears of supply disruptions in the Middle East, despite ongoing shortages in inventories and the impact of the US-Iran conflict on the market. The price of Brent crude fell to around $104 per barrel, while West Texas Intermediate traded near $94. This reflects a decrease in geopolitical tensions and the limited impact of Houthi attacks on supplies, along with the International Energy Agency’s forecast of a 2.6 million barrel per day decline in global oil consumption this year. Nevertheless, the oil market continues to face inventory shortages and shipping challenges, with increasing warnings about the ongoing conflict and its potential role in elevating prices if the situation escalates.
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