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Commodities

Oil Prices Soar Amid US-Iran Tensions

Guavy AI Editorial Team
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Oil
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Oil prices surged to a one-week high on Tuesday amid growing uncertainty over a potential deal to bring stability to the Middle East and reopen the Strait of Hormuz.

The U.S. and Iran have been engaged in a back-and-forth, with President Donald Trump responding to Iranian conditions for a deal by calling for Iran to pay compensation for those killed in wars, attacks, and protests.

'Markets are grappling with the prospects of some form of detente, although they're misguided in thinking that any form of resolution is the last chapter of this story,' said Ron Albahary, chief investment officer at LNW.

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