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Commodities

Iran-US Stalemate Keeps Oil Prices High

Guavy AI Editorial Team
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Oil
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Oil prices continued their upward trend for the fourth day in a row, with Brent crude climbing 0.7% to $91.61 a barrel at 11:41 am Singapore time.

The price increase comes as the stalemate between the US and Iran continues, with no signs of progress towards a resolution after almost six months of conflict.

US President Donald Trump insisted that there are no talks ongoing with Tehran, and the US plans to ramp up economic pressure against Iran in an effort to force them to capitulate.

The blockade of Iran's ports is expected to continue, with the United Arab Emirates suspending all trade and financial transactions with Tehran due to regional escalations.

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