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Commodities

Trump Threats Fuel Oil Price Uncertainty Amid Ongoing Iran Tensions

Guavy AI Editorial Team
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Oil
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Oil prices continued their upward trend on Tuesday, despite remaining near recent peaks as tensions between the US and Iran persist over the Strait of Hormuz.

US President Donald Trump reiterated that Washington maintains full control of the strategic waterway, which he claimed is under US control. However, this assertion has been denied by Iran.

The recent ceasefire deal between the two countries expired on Monday, with no extension sought by the US. Trump also threatened to bomb Oman if it gets in the way, although it's unclear what grounds this threat is based on.

Oil futures rose 0.3% to $91.09 a barrel, while Brent futures gained 0.4% to $84.85 a barrel by 01:06 GMT.

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