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Oil Prices Surge Amid Middle East Tensions as Trump Threatens Oman

Guavy AI Editorial Team
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Oil prices rose on Tuesday as tensions in the Middle East escalated following threats from US President Trump to bomb Oman. Iran's top negotiator, Mohammad Baqer Qalibaf, said that Tehran would maintain its stance and keep the Strait of Hormuz closed until Washington meets the conditions of the interim deal signed in June.

Trump dismissed the prospect of talks between the US and Iran, but his comments had a muted market reaction. Analysts noted that there were no real talks taking place and the physical setup hadn't changed significantly in two weeks.

The Strait of Hormuz, a key oil shipping route, has been closed since February 28 when the US and Israel launched attacks on Iran. Iranian officials said they would shift to a fully offensive military posture as efforts towards a permanent end to the war have stalled.

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