Economic TimesLean R·
Oil prices fall 1% on hopes of limited supply disruptions
Oil prices slipped around one percent, marking their third consecutive session of losses. The potential for alternate oil routes from the Middle East overrode concerns about ongoing strikes. Following drone attacks last week, Saudi Arabia is working to enhance its pipeline capacity and has also made additional crude shipments available to Asian refineries. However, the backdrop of tension remains as the US and Iran avoid peace discussions.
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