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Crude Oil Slumps Amid Rising Expectations Of An End To Hormuz Crisis, Profit-taking
Source: Nasdaq
Energy Markets & PricesGeopolitics & WarCommodities & Raw Materials
Crude oil prices tumbled Friday after recent sharp gains, as reports of a possible meeting between Iran and Gulf Cooperation Council members raised expectations that the Strait of Hormuz could reopen. A reopening would reduce perceived disruption risk to a critical global oil-shipping chokepoint and pressure crude prices lower.
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