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Oil prices slip as Iran cites progress with Oman on Hormuz agreement
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MyJoyOnline
Oil prices trended lower on Thursday on the progress in Iran-Oman talks, with investors cautiously waiting for signs of a U.S.-Iran peace deal and progress on reopening the Strait of Hormuz.
"Some selling pressure emerged following reports that talks between Iran and Oman are making progress," said Yuki Takashima, economist at Nomura Securities.
Gulf countries' crude oil and condensate exports were largely steady in July and remained about 40% below pre-war levels, shipping data showed.
Meanwhile, Yemen's Iran-aligned Houthis said on Wednesday they had launched a missile attack on a Saudi oil tanker off the coast of the kingdom's Red Sea port city of Yanbu and another missile attack on a Saudi oil tanker in the Gulf of Aden.
Separately, U.S. crude stocks rose as refineries eased processing slightly and imports edged higher, data from the Energy Information Administration showed on Wednesday.