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Brent crude dips below $100
Oil prices slightly declined as the Saudi pipeline resumed operations to allow for greater flows across the Red Sea, easing concerns over a disruption in global oil supplies. Brent crude fell to around $99.18 per barrel, while U.S. West Texas Intermediate dropped to approximately $90.17, amid expectations of a diplomatic resolution to the US-Iran conflict. Additionally, Iraq's Ministry of Oil increased exports to over three million barrels per day, supporting expectations of higher deliveries through Turkey, thereby reducing the impact of geopolitical tensions on oil prices.
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