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Oil: Hormuz risk repricing with fragile support – BNY

BNY’s Geoff Yu notes Oil prices have stabilized near $80 as markets digest Iran’s proposed shipping route with Oman through the Strait of Hormuz. The temporary arrangement has reduced perceived disruption risk for Brent and WTI, helped by larger U.S. inventories.

Oil: Hormuz risk repricing with fragile support – BNY

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