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Commodities

Oil Prices Soar Amid Uncertainty Over US-Iran Negotiations

Guavy AI Editorial Team
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Oil
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Oil prices have surged amid uncertainty surrounding US-Iran negotiations on ending the war. By midday Monday, North Sea Brent crude had risen 4.1 percent to $108.65 per barrel.

US West Texas Intermediate (WTI) stood at $96.31 per barrel, an increase of 4.2 percent.

In Germany, gasoline prices rose slightly over the weekend, while diesel prices fell marginally.

Analyst Russ Mould from AJ Bell explained that oil prices rose after President Trump rejected Iran's latest proposal regarding the reopening of the Strait of Hormuz.

The Iranian conditions for ending the war include a cessation of all hostilities in the region and the release of frozen Iranian assets.

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