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Oil prices extend decline on expectations of smoother crude flows via Hormuz

Oil prices dipped to four-month lows as tensions eased between the US and Iran, paving the way for more tankers to navigate the Strait of Hormuz. Following peace talks and a sanctions waiver, Iran’s oil sales are expected to increase. Discussions are ongoing regarding navigation in the vital waterway, with ship-tracking data indicating a gradual resumption of traffic.

Source :- Markets-Economic Times Read More

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