Oil Prices Decline Amid Supply Concerns and US Sanctions Easing
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Oil prices dropped over 1% as investors balanced concerns about supply disruptions from attacks near the Strait of Hormuz with US moves to reduce petroleum shipping costs by easing sanctions on vessels. Brent crude futures fell to $104.42 a barrel, while US West Texas Intermediate crude declined to $94.11, reversing previous gains. This decision comes amid ongoing tensions in the Middle East affecting global oil markets.
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Originally published by gnews