BtcDana Global (@BtcDanaGlobal)
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Oil prices remain supported as restricted shipping and regional tensions keep supply concerns around the Strait of Hormuz in focus.
The strait normally carries around 20 million barrels of petroleum liquids per day, approximately one fifth of global consumption, which makes disruption along the route important for energy markets worldwide.
Shipping activity remains well below pre conflict levels as traders continue to monitor regional developments and their possible effect on global oil supply and prices.
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