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Commodities

WTI Crude Oil Prices Hold Above $82.50 Amid Ongoing Global Tensions

Guavy AI Editorial Team
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WTI crude oil prices remain above $82.50 despite rising tensions between the UK and Russia, but are set to close the week lower as investors digest diplomatic signals from the Middle East.

A new revenue-sharing agreement between Iran's military and Oman regarding the strategic passage of the Strait of Hormuz has improved supply prospects, tempering market anxiety.

Analysts at MUFG suggest that the recent firming in crude may mark 'the start of a renewed bounce in energy prices,' but stress that the outlook hinges on how much shipping is actually getting through the Strait of Hormuz.

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