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Jun 23, 2025
Oil holds steady near $74 amid market shifts
Investors monitor vital straits, supply concerns support prices
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Oil prices stabilized during trading on Monday, June 23, 2025, near their highs of $74.16 per barrel, amid continued anticipation in global markets. Investors continue to monitor geopolitical developments, particularly in the Gulf region, where concerns about supply stability have grown amid ongoing tensions in the Strait of Hormuz, one of the world's most important oil chokepoints. |
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Signs of strong demand from China and India, along with voluntary production cuts from some OPEC+ members, are also helping to keep prices within a high range. However, concerns about a slowing global economy remain a downward pressure on prices.