Saudi Arabia has resumed operations of a key pipeline, pushing oil prices below $100 a barrel. This move, coupled with ongoing diplomatic efforts between the US and Iran, has eased market pressures. Additionally, US crude inventories have unexpectedly increased by 1.8 million barrels last week. Iraq's decision to boost oil exports further alters the regional supply landscape. These developments are crucial for businesses relying on oil imports, as they may influence cost structures and supply chain decisions. For more detailed insights, refer to the original article on the Times of India website.
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