July oil drops after rally
Oil prices declined in the last trading sessions of July, despite achieving monthly gains of up to 20% due to increased supplies through maritime routes. Brent crude fell to $88 per barrel, while West Texas Intermediate dropped to $82.09, amid ongoing tensions in the Middle East and their impact on oil flows. Saudi Arabia is pursuing a defensive alliance to strengthen the protection of vital energy corridors, supported by 14 countries including Egypt and Turkey.
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