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الثورة
Oil gains amid Strait of Hormuz concerns
Oil prices rose slightly amidst uncertainty regarding supplies through the Strait of Hormuz, with Brent crude reaching $91.28 per barrel and West Texas Intermediate at $85.31, after both prices hit their highest levels since July due to declining hopes of ending the American aggression against Iran. Iraq announced measures to export oil through international and local companies for a period of three months starting from September, in an attempt to avoid the Strait of Hormuz. Additionally, two major Chinese companies halted shipments of oil through the strait due to the Middle East conflict, and began exporting oil away from the Gulf region. In the United States, oil inventories decreased last week, while gasoline inventories increased.
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