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Oil Prices Extend Decline June 23 as Hormuz Transit Resumes and 60Day Iran Sales Window Opens

International oil prices fell again on June 23 after two tankers carrying nearly 2 million barrels transited the Strait of Hormuz, easing near term shipping fears, while reports said a U.S. Iran interim arrangement allows a roughly 60 day negotiation window with temporary relief for Iran oil sales. U.S. SPR stood near 340 million barrels, its lowest since 1983.
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