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Commodities

Trump Rejects Iran's Demand, Oil Prices Soar More Than 2%

Guavy AI Editorial Team
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Oil
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Oil prices rose more than 2% on Tuesday after U.S. President Donald Trump dismissed Iran's demand for compensation before reopening the Strait of Hormuz, which has been closed due to a five-month conflict.

The price of Brent crude oil gained 2.4% to $89.80 a barrel, while U.S. benchmark crude picked up 2.6% to $84.28 a barrel.

Meanwhile, global shares were mostly lower in early trading on Tuesday, with the CAC 40 in Paris losing 0.2%, Germany's DAX falling 0.2%, and Britain's FTSE 100 also down by 0.2%.

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