The decline in oil today comes with the continued interaction with negative data about US oil inventories and discouraging expectations for supply and demand this year, in addition to the downplaying of the importance of military developments in the Middle East, which constituted the most important factor in supporting prices.
Therefore, I believe that the markets' concerns about the safety of global energy supplies may dissipate more and more in the coming days, as the specter of a widespread regional war recedes.
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