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Commodities

Oil Prices Firm Up Amid Middle East Tensions

Guavy AI Editorial Team
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Oil
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Crude oil prices have held steady near $86 per barrel on Thursday, despite gaining over 3% this week. The stability is attributed to ongoing uncertainty in the Middle East, particularly between the US and Iran.

The two nations remain at an impasse, with the Strait of Hormuz being a point of contention. President Donald Trump stated that oil continues to flow through the waterway while expressing openness to resuming talks with Tehran 'at some point.'

Meanwhile, the UAE has suspended financial and economic transactions with Iran following accusations of ballistic missile launches against its territory.

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