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Commodities

Brent Crude Slumps as US Sanctions on Iran Take Effect

Guavy AI Editorial Team
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Oil
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The Brent crude price has declined by 2.77% to $87.95 following the US announcement of new sanctions on Iran targeting aviation, technology, and shipping sectors.

The sanctions have increased geopolitical risk in the market without causing an immediate supply disruption, according to Traders Union.

Brent crude is trading below its key moving averages on both short- and medium-term horizons, indicating ongoing downward momentum.

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