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Commodities

WTI Prices Slip to Near $80.50 Amid Profit-Taking and Easing Hormuz Tensions

Guavy AI Editorial Team
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Oil
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WTI crude oil prices dipped to around $80.50 per barrel on Tuesday as traders took profits and tanker traffic through the Strait of Hormuz increased, easing supply disruption fears.

The Strait of Hormuz is a critical chokepoint for global oil shipments, handling about 20% of global oil flows.

Market participants are recalibrating their positions after prices climbed to multi-month highs earlier in the session.

While the immediate risk premium has eased, analysts note that the underlying supply-demand balance remains tight, and any renewed disruption could quickly reverse the trend.

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