Japanese machinery demand rises 9.7% in June
Oil markets were significantly affected as prices continued to rise due to tensions in the Strait of Hormuz, with the market expected to remain volatile. In related news, Iraq announced the diversification of its oil export outlets, offering a 30% discount on prices to improve credibility and reduce dependence on the Strait of Hormuz. Meanwhile, gold prices in the UAE continued to decline despite a global rise, and Japanese machinery prices increased by 9.7% in June, surpassing expectations.
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