Brent exceeds $105 amid US-Iran talks

Oil prices rose by more than 2%, amid uncertainty over the outcomes of diplomatic talks between the United States and Iran regarding the easing of tensions, with ongoing worries about the possibility of a US ban on diesel exports. Brent crude jumped by $2.5, reaching $105.58 per barrel, while West Texas Intermediate futures increased to $93.94. The market remains influenced by geopolitical tensions, especially in the Middle East, as well as the risk of restrictions on US diesel exports. Notably, distillate inventories declined significantly, while crude oil inventories rose more than expected, reflecting uncertainty and the impact of geopolitical developments on the oil markets.

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