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Market Impact: 0.55
Oil slides as U.S.-Iran truce hopes outweigh Houthi attacks on Saudi Arabia
Source: The Globe and Mail
Energy Markets & PricesGeopolitics & WarCommodities & Raw Materials
Oil prices fell Friday as the prospect of a US-Iran truce raised the possibility of reduced geopolitical risk and potentially looser supply conditions. The decline was tempered by escalating Houthi attacks on Saudi Arabia, which could disrupt output from a major Middle Eastern oil producer and renew supply-risk premiums.
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