22 Hrs
Source:
Sharjah24
Oil steady amid Strait of Hormuz uncertainty
Oil prices were slightly hesitant to stabilize around $83.54 per barrel amid a decline in optimism regarding the reopening of the Strait of Hormuz, due to Iran's insistence that the United States meet its demands before resuming operations. Last week, prices fell by more than 7% following a deterioration in hopes of reaching an agreement between Iran and Oman to open the strait, through which 20% of the world's oil supplies pass.
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