Oil prices saw an increase of almost 2% in a volatile market influenced by geopolitical tensions. Traders reacted to Iranian President Masoud Pezeshkian’s assurance of Iran’s resilience amidst ongoing negotiations. Brent crude futures surged by $1.84, reaching $101.09 by evening, while West Texas Intermediate prices also rose. Discussions included the potential reopening of the Strait of Hormuz amid conflicting statements from Iranian officials.
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