Trump comments raise oil prices

U.S. President Donald Trump stated that the ceasefire agreement with Iran is not final and that the war could be resumed if he is not satisfied or if Iran does not adhere to the terms of the agreement. This led to a roughly one percent rise in oil prices, with Brent reaching $79.55 per barrel and West Texas Intermediate at $76.79. The International Energy Agency (IEA) said that the oil market will experience a significant surplus in 2027, with production increasing by eight million barrels per day, compared to a demand increase of only two million barrels.

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