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Oil rises amid US-Iran ceasefire doubts
Oil prices rose following escalating tensions between the United States and Iran, the postponement of diplomatic talks, and the escalation of Israeli attacks in Lebanon, which increased uncertainty about the possibility of reaching a lasting ceasefire. However, banks have lowered their oil price forecasts, expecting flows from the region to stabilize by the end of the year, despite ongoing supply shortages and forecasts of production returning to pre-war levels later in the year. Financial institutions anticipate that Brent prices will range between $70 and $80 per barrel during the second half of 2023.
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