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Commodities

Crude Rally Pauses Amid Ongoing US-Iran Tensions

Guavy AI Editorial Team
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Oil
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Oil futures have paused in their rally as tensions between the US and Iran continue to simmer. The steep weekly gains made by crude markets are largely being consolidated, with prices slightly lower but still navigating the worst crisis since the start of the Middle East conflict.

The North Sea physical crude market saw its largest single-day price spike of the US-Iran conflict so far, while TotalEnergies CEO Patrick Pouyanne has warned that the oil market may be facing a new normal in the Strait of Hormuz.

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