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Commodities

Oil Prices Surge on US-Iran Uncertainty

Guavy AI Editorial Team
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Oil
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Oil prices rose sharply on Thursday due to uncertainty over US-Iran negotiations. The International benchmark Brent crude futures gained 2.4% to $100.35 per barrel, while US benchmark West Texas Intermediate rose 2.45% to $92.62.

The increase in oil prices comes as investors weigh signs of improving regional crude shipments against concerns that the recovery could falter without a lasting agreement to end the Iran war.

The Strait of Hormuz remains central to negotiations and the outlook for regional energy flows. Iranian government spokesperson Fatemeh Mohajerani said that Tehran had received Washington's response to a new proposal conveyed through Qatari mediation.

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