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Oil Prices Slip as Middle East Exports Recover Amid Gulf Tensions

Global oil prices slipped as traders weighed recovering Middle East crude exports against security tensions in the Persian Gulf.

An oil tanker at the Al Basrah Oil Terminal in the Persian Gulf, 2005
An oil tanker at the Al Basrah Oil Terminal in the Persian Gulf, 2005 · Public domain · Wikimedia Commons

Global oil prices slipped following a recovery in crude exports from the Middle East, news agency Reuters and CNA reported. Alongside the decline, market traders continue to weigh the impact of persistent security tensions across the Persian Gulf.

According to reports by TradingView and Bloomingbit, Brent crude held on to its losses, while West Texas Intermediate traded near $89 per barrel.

Further details regarding exact supply volumes and ongoing trading trends have not yet been released.

Sources: CNA, Reuters, TradingView, bloomingbit

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