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Commodities

WTI Surges Above $93 Amid US-Iran Tensions and Saudi Pipeline Disruptions

Guavy AI Editorial Team
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Oil
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Oil prices rose for a second day due to uncertainty over US-Iran talks and a recovery in flows through a key Saudi pipeline. West Texas Intermediate (WTI) climbed above $93 a barrel, while Brent closed near $105.

Iranian officials have expressed private pessimism about reaching a deal with the US before November's midterm elections, following President Donald Trump's rejection of a proposal to reopen the Strait of Hormuz in seven days.

Saudi Arabia has restored half of its East-West pipeline flows, which bypass the strait, after drone strikes halted operations. Flows through the link to the Red Sea have reached at least 3.5 million barrels a day.

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