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Oil Gains Over a Dollar Amid U.S. Iran Talk Doubts
Oil prices rose as Brent crude increased to approximately $88.92 per barrel, and West Texas Intermediate (WTI) crude climbed to $82.42, following a decline that lasted for three sessions. This was driven by a drop in hopes of reaching an agreement between the United States and Iran, as well as a deterioration in energy exports through the Hormuz Strait. The White House confirmed that negotiations with Iran are not currently ongoing, while continued restrictions on traffic through the strait add to the uncertainty surrounding global oil supplies.
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