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Oil edges lower, but heads for weekly gain as Middle East supply risks persist
Oil prices saw a slight dip Friday but are set for weekly gains. US and Iran exchanged strikes, escalating regional tensions and impacting supply routes. Concerns over rising inflation are also pressuring oil demand and market prices. The conflict has delayed the reopening of the vital Strait of Hormuz waterway. Market sentiment remains cautious as leaders express hopes for de-escalation.
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economictimes.indiatimes.com
Oil edges lower, but heads for weekly gain as Middle East supply risks persist
Oil prices saw a slight dip Friday but are set for weekly gains. US and Iran exchanged strikes, escalating regional tensions and impacting supply routes. Concerns over rising…
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Oil Price Today (July 10): Crude oil up 6% this week as US and Iran continue attacks. Where are prices headed?
Even with Friday's decline, both crude benchmarks were set to end the week higher. Brent was on course to gain about 6%, while WTI was poised to rise nearly 5%.
