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Commodities

Oil Prices Rebound on Easing Tensions Between US and Iran

Guavy AI Editorial Team
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Oil
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Oil prices rebounded on Wednesday morning after two consecutive days of decline. The price of Brent crude futures rose by 3.53% to $87.06 per barrel, while West Texas Intermediate (WTI) crude futures gained 3.31% to $81.88 per barrel.

The recovery comes after both benchmark crude contracts hit two-week lows on Tuesday due to a halt in exchanges of strikes between the United States and Iran and reports that negotiators from Iran and Oman were seeking an agreement to restore shipping through the Strait of Hormuz.

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