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The Economic Times
The Economic Times
Business
Veer Sharma

Oil Price Today (October 16): Crude oil dips to $105 as Trump mulls easing restrictions on sanction-facing nations. What’s next?

Oil prices edged lower on Friday as investors assessed risks in the Middle East alongside potential US moves to ease restrictions on the world's so-called shadow fleet of tankers to temper liquid gold prices.

The shadow fleet is a group of oil tankers used to transport oil from countries facing sanctions, particularly Russia, Iran and Venezuela, often outside the conventional Western shipping, insurance and regulatory system.

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