Oil Markets Rest between Hope and Hesitation
Oil prices increased during Tuesday's trading sessions. Brent crude reached $83.42 per barrel after a 0.3% rise, and West Texas Intermediate (WTI) rose to $81.12 per barrel, also up by 0.3%. This followed a sharp decline in the previous session after the U.S. president signed a memorandum of understanding with Iran for a temporary ceasefire. Uncertainty remains regarding the details of the agreement and the resumption of oil flows through the Strait of Hormuz, which accounts for five percent of global supplies. The oil market continues to be affected by political and logistical tensions in the region, with expectations of ongoing obstacles hindering a full recovery of oil flows.
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