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الخليج
Oil Price Declines as Brent Dips to $87
Oil prices continued to decline, with Brent at $87.24 per barrel and West Texas Intermediate at $81.67, marking the fifth consecutive day of decreases. This comes amid anticipation of potential talks between Iran, Qatar, and Oman regarding the opening of the Strait of Hormuz and efforts to reduce supply disruptions resulting from the Middle East war. Iran and Oman are working on finalizing an agreement to share control of the maritime passage, which previously saw the transit of one-fifth of global oil before the war, but has since dropped to about a quarter of previous levels. The discussions present an opportunity to resume oil flows through the strait, but the stance between Iran and the United States remains distant, especially as Tehran continues to demand conditions before opening the strait.
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