Global oil prices see modest increase

Oil prices rose following exchanges of strikes between the United States and Iran, revealing the fragility of the temporary agreement to end their war and causing a slowdown in shipments passing through the Strait of Hormuz. Brent crude futures increased by 0.8% to $72.57 per barrel, while West Texas Intermediate rose by 1.3% to $70.11, though both recorded weekly losses of 10.6%. Despite the tensions, Saudi Aramco resumed oil loading at Ras Tanura, with increased production and exports ahead of reaching a temporary deal.

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