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Commodities

Oil Price Surges Past $91 as Trump Abandons Iran Deal

Guavy AI Editorial Team
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Oil
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The price of Brent oil has surpassed $91.45 per barrel, marking a 0.6% increase from previous levels.

This surge is attributed to US President Donald Trump's statement that he will not extend the memorandum of understanding between the US and Iran, which expired on Monday without any prospects of peace.

The agreement was reached in June, but its expiration has led to concerns about further tensions in the region and potential disruptions to global oil supplies.

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