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Commodities

Trump's Sanctions Threat Sends Oil Prices Soaring

Guavy AI Editorial Team
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Oil
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Oil prices have surged as US President Donald Trump threatens economic sanctions on Iran's trading partners.

The move has raised expectations of tighter supply in the coming weeks, causing Brent crude futures to settle at $94.39 a barrel and U.S. WTI crude to finish at $87.06 a barrel.

This represents a 6.6% increase for Brent over the week and a 5.7% rise for WTI.

Tensions between the US and Iran have been escalating, with Iran warning of 'devastating' consequences if new sanctions are imposed.

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