As paper oil prices were pushing towards the $97 mark following renewed hostility between Iran and the U.S, Axios' Barak Ravid claimed the U.S. "escorted" 40 ships through the Strait of Hormuz.The effect on the AI algorithms trading paper oil was immediate: the price of Brent Crude began to decline from its $96.6 peak and is now below $95 and expected to go down further. WTI crude dropped from its peak at $92/barrel to $90.
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