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Oil steadies on easing signals
Oil prices steadied on Monday after Donald Trump hinted that military action against Iran was off the table as long as diplomatic talks were making progress, despite continued supply risks linked to tensions and attacks near the Strait of Hormuz. Brent stood at $98.35 a barrel, while West Texas Intermediate rose 0.5% to $91.30, following a 16% drop in Brent last week. A JPMorgan report projected a global supply surplus of about 1.4 million barrels a day in October, as supplies recover, production increases and demand weakens.
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