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Brent Crude Soars 2% on Iran Nuclear Deadlock, Supply Concerns Persist

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The Story

News Summary

  • Brent crude rallied 2% to $107/barrel as Iran hardened nuclear negotiation stance, reducing near-term deal prospects.
  • Supply concerns from SPR drawdowns and Strait of Hormuz uncertainty support elevated oil prices.
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BRENT price history

105.71 +62.83% over the displayed period

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