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Bloomberg: Signs of short-term oversupply in the Middle East oil market, first time since July.
According to Bloomberg, signs of short-term oversupply have emerged in the Middle East oil market for the first time since July. The report recalls that a temporary ceasefire between the US and Iran in July allowed oil tankers to depart the Persian Gulf via the Strait of Hormuz, leading to a sharp drop in global oil prices at the time.
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