Oil prices decline as traders take profits amid assessments of Iran's escalation

Oil prices retreated today, Thursday, after rising for four consecutive days, as traders took profits and assessed the risks resulting from the military escalation between the United States and Iran. The U.S. carried out strikes on Iranian facilities, raising concerns about the potential escalation of the conflict and the threat to global oil supplies passing through the Strait of Hormuz. Previously, oil prices had increased due to growing caution over supply disruptions in the region, but current tensions have led to a decline in prices, with forecasts of a possible rise if the escalation continues.

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