00:00Oil prices fell on Monday, with Brent crude sliding to around $71 a barrel.
00:05The decline followed OPEC Plus's decision to raise output from August,
00:10while exports through the Strait of Hormuz continued to recover, easing supply concerns.
00:17The alliance agreed on Sunday to raise output by a combined 188,000 barrels a day,
00:23marking the fifth consecutive month the group has raised its output quotas.
00:27The increase will come from Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman.
00:34Meanwhile, all exports through the Strait of Hormuz continued to rebound,
00:38with Gulf shipments exceeding 10 million barrels a day in June
00:42as more commercial vessels returned to the waterway.
00:45However, exports remained well below pre-war levels
00:49as investors continued to monitor US-Iran talks and the security situation in the strait.
00:54After surging to more than $126 a barrel in April,
00:59Brent crude has now returned to pre-war levels
01:01amid growing optimism over a lasting end to the conflict
01:04and a full recovery in shipping.
01:06testing.ΡΠΌ
01:07You
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