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Oil eases on Middle East diplomacy hopes, Saudi attacks keep supply worries alive

Oil prices took a slight dip as Saudi Arabia, Turkey, Pakistan, and Iran engage in diplomatic discussions aimed at quelling tensions. However, the situation remains precarious with increased attacks from Iran-aligned Houthis, causing doubts about further price drops. Brent crude futures remain near six-month peaks, influenced by persistent threats. The Strait of Hormuz, vital for global energy, faces rising risks.

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Economic TimesLean R·1h ago
Oil eases on Middle East diplomacy hopes, Saudi attacks keep supply worries alive
Oil prices took a slight dip as Saudi Arabia, Turkey, Pakistan, and Iran engage in diplomatic discussions aimed at quelling tensions. However, the situation remains precarious with increased attacks from Iran-aligned Houthis, causing doubts about further price drops. Brent crude futures remain near six-month peaks, influenced by persistent threats. The Strait of Hormuz, vital for global energy, faces rising risks.
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Oil eases on Middle East diplomacy hopes, Saudi attacks keep supply worries alive

How 1 sources are covering this