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Oil Prices Dip as Middle East Supplies Flow Despite Escalating Conflict

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Crude oil prices fell on Thursday following a sharp rally the day before, as supplies continued to move out of the Middle East despite rising regional tensions. Shipping data showed that oil was still reaching markets through available routes, easing immediate supply concerns. Military activity in the region intensified, with US and Saudi forces conducting strikes against Iran-backed groups in Iraq. Meanwhile, Saudi Arabia is reportedly working to form a coalition aimed at safeguarding Red Sea shipping lanes from Houthi attacks.

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