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Oil Prices Drop as Iran Allows Tankers Through Strait of Hormuz

Published 1 day, 1 hour ago
Description

Oil prices drop as Iran allows ten tankers through Strait of Hormuz, easing tensions and offering relief on supply worries. Brent crude futures fall nearly 2% and WTI slips 1.8%. Despite spare stockpiles, the oil market is now more fragile due to weeks of disruptions, with nearly 17.8 million barrels per day affected. Experts warn of little buffer left if tensions flare up again.

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