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Oil prices retreat after WTI hit a 3-week high, as attacks on shipping near Hormuz raise supply concerns while Washington weighs easing sanctions on vessels to curb petroleum transport costs
Crude oil is likely to remain volatile as investors weigh US-Iran diplomacy against supply disruptions in the Middle East, US outages and freight bottlenecks. Analysts say any breakthrough on the Strait of Hormuz could ease prices, but persistent shipping risks and constrained alternative routes may keep a…