Oil prices dipped Friday as market concerns over supply eased, with WTI falling to $82.24 and Brent settling at $88.16 — down from a recent spike above $93. The recovery in shipping through the Strait of Hormuz helped calm nerves. Meanwhile, new tariff proposals targeting Iran — though economically minor since the U.S. imports just $1.4 million worth of Iranian goods — add political complexity, especially as the bill also aims to penalize countries that buy Russian energy. Watch how these trade moves ripple through the global oil market.
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