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Oil prices rose on Thursday, boosted by mounting tensions between the West and Iran and the sharp drop in US crude oil inventories, but gains were limited by lingering concerns about reducing fuel demand in the US. because of the slowdown in economic growth.
Futures contracts in Brent rose 21 cents to 0.33% to $ 63.39 per barrel after peaking at $ 64.23.
The American crude
A week after Iran seized a British flag-bearer in the Gulf, Britain began shipping a warship to escort its flag-flying ships as it crossed the Strait of War. ; Hormuz. A new policy was announced after the former government declared that it did not have resources.
The United States, Britain and other countries will meet Thursday in Florida to discuss ways to protect Iranian ships in the Gulf.
Saudi Arabia, the world's largest oil exporter, has urged global oil buyers to secure their energy shipments in the Strait of Ormuz, by which about 20% of the world's supply is routed daily.
Prices were also supported by a decline in US crude oil inventories of about 11 million barrels, well above badysts' expectations of a 4 million barrel drop.
"Most of the mbadive decline of about 11 million barrels came from the Gulf of Mexico, which was accumulating the effects of tropical storm Barry," said Edward Moya, chief market badyst at Oanda in New York. . US production has seen its largest decline since October 2017, but is expected to rebound strongly next week.
"A new weakness in global economic data could have limited effects on crude oil demand, as the ECB's next wave of monetary easing, as well as the Fed's transition to a facilitation cycle, will help stimulate l & # 39; economy. "
Oil prices are under pressure from worries about global economic growth as growing signs of damage to the US-China trade war have raged for a year.
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