rafidainscope - Economic analyses predict a continuing downward trend in global oil prices, driven by the recovery of export traffic through strategic waterways, notably the Strait of Hormuz and Bab el-Mandeb. The analyses indicated that the recent decline in Brent
crude prices reflects the receding of security concerns and the fading of the so-called "risk premium" from oil pricing. Experts explained that the return of commercial navigation to normalcy in the Red Sea and the Suez Canal will allow significant
additional quantities of oil to flow into global markets. They expect that this stability, if maintained, could push oil prices below the $90 per barrel mark, thereby alleviating inflationary pressures on the global economy.
