Oil prices dropped sharply today, with WTI sliding over 3% and Brent nearly 2.7%, after Saudi Arabia boosted crude shipments through Oman and restored pipeline capacity. The additional supply helped calm fears of prolonged disruptions in global oil flows. Analysts note that the Fed’s recent rate hike also contributed to downward pressure on commodities. Asian buyers are expected to receive more cargoes soon, helping stabilize regional supply chains.
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