EconomyOil Drops as Middle East Crude Flows Recover to 98% of Pre-War Levels

Oil prices decline as Middle East crude flows recover to 98% of pre-war levels, according to JPMorgan. Saudi Arabia’s East-West pipeline is back at half capacity and flows through the Strait of Hormuz are near late-June highs. Qatar is seeking common ground between the US and Iran, while Abbas Araghchi strongly denies flexibility on the nuclear issue.