Global oil prices climb 2.4% to over $101
Oil prices rose during Wednesday’s trading session after five consecutive days of losses, with Brent reaching $101.61 per barrel, up 2.4%, and West Texas Intermediate averaging $91.84, up 1.5%. The increase came amid market attention on diplomatic developments between the United States and Iran, as Trump indicated that there were positive meetings with Tehran and the possibility of reopening the Strait of Hormuz within a week if the sanctions are lifted, despite prices falling more than 8% since the beginning of the week.
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