Oil Split In Two Markets As Hormuz Risk Bites, Brent Above $107
Brent is above $107 a barrel as war risk in the Persian Gulf splits the oil market, with Iraqi crude discounted over $43 while barrels outside Hormuz hit record highs.
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Saudi Crude Detour Through Oman Pulls Oil Prices Down A Second Day
Brent fell 1.2% to $104.59 and WTI to $101.29 after Saudi Arabia offered extra crude cargoes via Oman, easing fears of Middle East supply disruption after pipeline attacks.