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Oil slips as traders weigh Middle East export recovery and Iran risk

Brent for November delivery fell 1.5% to $103.72 per barrel, while WTI for October dropped 2.2% to $90.62.

Reported · Written up by our desk · Energy

Oil prices retreated on Tuesday after a period of gains, as traders balanced signs of export recovery from the Middle East against uncertainty tied to the Iran conflict, OilPrice reported.

Brent crude for November delivery fell 1.5% to $103.72 per barrel by 1:10 pm ET, while WTI crude for October delivery dropped 2.2% to $90.62 per barrel, according to the outlet.

The report also said crude exports from the Middle East climbed, adding another factor investors considered while assessing the near-term outlook for supply amid the geopolitical risks.

Latest closeWTI crude $93.42 ▲1.1%|Brent $98.85 ▼5.2%

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