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Hurricane Beryl’s impact limited: Initial fears of disruption to oil production in Texas from Hurricane Beryl subsided as the storm caused less damage than expected.
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Oil prices down: This positive development led to a decline in oil prices. Brent crude futures fell 0.45% to $85.36 per barrel, and WTI crude dropped 0.53% to $81.89 per barrel.
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Market shift: With supply concerns easing, the oil market’s focus might return to other factors influencing prices, such as global demand and geopolitical situations.
