Oil drops amid ongoing tanker transit
Oil prices declined today, Thursday, after oil tankers continued to leave the Middle East region despite escalating tensions there. Brent crude futures fell by $1.29 (1.42%) to $89.45 per barrel, and West Texas Intermediate (WTI) crude dropped by 56 cents (0.66%) to $83.90, despite a strong surge in prices recorded yesterday. Oil continued to flow through the Gulf region via multiple routes, with Iran announcing that it fired at American bases in Jordan and attacked three oil tankers through the Strait of Hormuz.
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