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Oil and gas markets moved lower after signals of possible US-Iran talks eased supply fears linked to the Strait of Hormuz blockade.
Oil prices dropped after signals of possible US-Iran talks eased supply fears.
KEY POINTS
- The International Energy Agency reported a record 10.1 million barrels per day supply loss in March.
- Europe's gas storage is at 29.5 percent, significantly lower than last year's 35.4 percent before winter.
- The US blockade of Iranian ports expanded to the Gulf of Oman and Arabian Sea, but some tankers still passed.
COMPANIES
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