Oil declines affected by developments in the Middle East

I registered Oil pricesdeclined today, Friday, after rising during the week, after financial markets dealt with caution with the decline in tension in the Red Sea.

The price of a barrel of Brent North Sea oil for September delivery fell by 4.85% to $95.88, after losing more than 5% and reaching $95.13.

Price Volatility

Investors are usually more cautious before the weekend, when stock exchanges are closed.
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If a ceasefire is announced in Iran, even if it is partial, prices may decline quickly, as was the case in June, but "If the unrest continues, oil prices may rise further than at the beginning of the conflict".

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