13 Hrs
Source:
الخليج
Oil prices gaze at Strait tanker flows
Oil prices declined as supply concerns eased due to the exit of oil tankers from the Strait of Hormuz, with Brent futures dropping to $75.07 and U.S. WTI crude trading at $71.79. This followed earlier gains triggered by the attack on a cargo ship near Oman and gunfire against a tanker by Iran. Nonetheless, geopolitical risks and supply worries remain, especially with oil tanker traffic reaching its highest level since the start of the U.S.-Iran conflict in the strait, and ongoing tensions in Venezuela caused by the earthquake that damaged the oil infrastructure.
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