Oil steadies near weekly highs on Gulf outlook

America is selling two oil tankers that were released after its operation in Venezuela, reflecting its economic measures towards the country. Meanwhile, the market is heading toward stabilizing oil prices at their highest level in over a week, amid anticipation of developments in the region, particularly in the Strait of Hormuz. Additionally, the economic war between China and other countries is escalating, with developments in the semiconductor and polysilicon sectors, amid calls for regional stability based on clear rules and a path to peace.

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