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Oil prices declined on Tuesday as investors assessed data showing higher crude exports from the Gulf alongside a Group of Seven commitment to release oil and diesel from emergency reserves. At 04:12 ET, benchmark Brent crude futures were down 0.
Oil prices fell on Monday as rising Middle East crude exports and a release of oil stocks by the Group of Seven nations boosted supplies.
Gulf oil flows surge despite escalating ship attacks in the critical Strait of Hormuz energy corridor.