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Crude oil stands at $75 as tankers head to Hormuz after four months of chaos
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Crude oil prices dipped Friday as tanker traffic through the Strait of Hormuz improved, easing supply disruption fears. This comes despite recent tensions after a cargo ship near Oman was struck, with Iran reportedly firing at the vessel. While geopolitical risks linger, oil shipments through the strait have seen an uptick following a ceasefire. Venezuela's oil production may also face challenges due to power outages following recent earthquakes. What's Your Reaction?
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