Oil markets react to tensions easing
Global oil prices saw a modest increase amid cautious optimism regarding the potential for a political settlement between the United States and Iran, despite ongoing concerns about geopolitical instability. Brent futures rose by 0.54% to reach $72.19 per barrel, while West Texas Intermediate futures increased by 0.35% to $68.93, after hitting their lowest levels since the start of the conflict in February 2026. The market is closely monitoring developments in the US-Iran situation and their impact on energy supplies and global oil prices.
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