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Saudis Push Maritime Coalition as Oil Finds Support

OilPrice.com
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Brent is set for an 8% weekly loss, but ongoing disruptions in the Strait of Hormuz and the Red Sea continue to support oil prices near $90 a barrel.

Friday, July 31, 2026 Oil prices are set for an 8% weekly loss after the sell-off earlier this week was halted by the reality of two disrupted waterways in the Middle East, with Saudi Arabia seeking to organize a maritime coalition against the Houthis.

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Original source: OilPrice.com

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