Oil rises to $88.5 per barrel
Oil prices rose, with Brent reaching $88.55 and West Texas Intermediate reaching $82.57, after a temporary dip at the start of the session. This came amid signals of diplomatic progress regarding the Strait of Hormuz, amid ongoing risks to oil supplies from the Middle East. It is worth noting that oil prices had previously fallen, yet the market continues to be influenced by geopolitical tensions and potential supply risks.
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