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Commodities

Oil Prices Rise as Middle East Talks Falter

Guavy AI Editorial Team
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Oil
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Oil prices rose on Thursday after investors reassessed their expectations due to continued restrictions on oil flows and the lack of progress in Middle East talks.

The price of Brent crude futures increased by 1.5% to $89.19 a barrel, while US West Texas Intermediate (WTI) crude futures gained 1% to $83.14 a barrel.

Traders had previously seen a possibility for an agreement that could increase oil flows from the Gulf region, but Washington's denial of talks with Tehran has changed the outlook.

The White House confirmed that no negotiations are currently taking place between the United States and Iran, and all options remain on the table.

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