23 Hrs
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عربي21
Oil increases amid US-Iran talks uncertainty
Oil prices rose slightly after suffering sharp losses in the previous session, amid uncertainty over the chances of reaching a diplomatic settlement between the United States and Iran, and the implications this has for energy supplies in the Middle East. Brent crude increased by 0.7% to reach $84.39 per barrel, following a 7% decline in the prior session, while West Texas Intermediate rose to $80.95 after losses exceeding 5%. These gains come after U.S. President Donald Trump delayed attacks on Iran in an attempt to pave the way for negotiations, while Iran denied that any talks are currently underway. This situation raises concerns about escalating tensions and their impact on global oil supplies, especially in the Strait of Hormuz, where about 20% of the world's energy supplies pass through. Analysts expect that ongoing tensions will increase geopolitical risks and influence oil prices, which remain affected by various security and political factors in the region.
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