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Economy News

The Economic Times

Economy / The Economic Times

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Oil slides as Saudi Arabia boosts flows via key pipeline

Oil prices have declined as Saudi Arabia restored partial capacity of its East-West pipeline, affecting global oil supply. Concerns regarding a stalemate between the US and Iran remain, but crude oil flows are sustained. The Brent crude future prices approached $103 a barrel, while West Texas Intermediate crude neared $90. There is ongoing movement of oil through the Strait of Hormuz despite risks to shipping.

30 Sep 2026 1:12 am