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in the Persian Gulf

Oil Returns to Prewar Levels as the Market Bets on Restored Flows from the Gulf

On Thursday, the international benchmark Brent fell by about 1.8% to around $72.40 a barrel. That put it below the $72.48 mark recorded in late February, on the eve of the US and Israeli strikes on Iran.

petrodollar vs petro yuan

The UAE’s OPEC Exit and the End of the Petrodollar Illusion

The UAE’s decision to leave OPEC is more than a technical dispute over production quotas. It is another sign that the old petrodollar order is fading — though not yet proof that a petroyuan era has arrived.