20 Hrs
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المشهد العربي
Oil drops amid steady Strait shipping
Oil prices are declining significantly, with Brent crude decreasing by 1.75% to reach $72.43 per barrel, and WTI crude declining by 1.55% to reach $69.25. This comes despite the stability in oil transit through the Strait of Hormuz following an understanding between the United States and Iran. The U.S. Energy Secretary clarified that oil exports through the strait exceeded 20 million barrels in 24 hours. Meanwhile, Iraq is considering the possibility of withdrawing from OPEC if its production quota is not increased.
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