Economic TimesLean R·
Oil treads water as US-Iran peace talks stall, Hormuz shipping slows
Oil prices maintained stability as tanker movements through Hormuz showed a decline. While Brent crude futures edged up, WTI futures posted a slight decrease. Significant gains were recorded last week, influenced by attacks targeting oil facilities and tankers. Despite ongoing tensions, Iran has yet to decide on resuming discussions with the United States, as the market navigates supply uncertainties against makeshift solutions and informal trading routes.
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