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Commodities

Iran Conflict Weighs on Oil Prices as Trump Teases New Announcement

Guavy AI Editorial Team
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Oil
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Crude oil prices declined for the third consecutive day as investors await updates on the conflict in Iran. President Donald Trump had been teasing an announcement, causing uncertainty in markets and keeping prices above $100 per barrel.

The October West Texas Intermediate (WTI) crude oil futures contract fell by $0.36, or 0.35%, to $101.55 per barrel at 12:00 GMT on Friday on the New York Mercantile Exchange. The US crude is poised for a weekly gain of 1.4% and has surged almost 77% year-to-date.

Meanwhile, Brent, the global benchmark for oil prices, eased below $104 a barrel. November Brent crude futures dropped by $1.49, or 1.42%, to $103.33 per barrel in overseas trading.

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