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Commodities

Oil Prices Rebound Stalls as Iran Talks Continue

Guavy AI Editorial Team
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Oil
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Oil prices retreated in early Thursday trading after Wednesday's rally as Iran kept talks open and U.S. crude stocks rose, pushing WTI and Brent below key resistance levels.

Brent oil slipped to around $102 a barrel while WTI fell below $92. The uncertainty surrounding the Strait of Hormuz continued to be a focus for traders.

The Energy Information Administration reported that U.S. crude stocks increased by 3 million barrels last week, which added pressure on prices. However, falling gasoline and distillate stocks suggest that fuel supplies remain tight.

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