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Brent Crude 2026 Rises 2% as US Iran Strikes Cloud Peace Prospects
Brent crude 2026 rose 2% to $98.12 after US military strikes in southern Iran dampened hopes for an imminent peace deal. The Silicon Review reports on oil price volatility as Hormuz talks continue. Brent crude futures rose over 2% in Asian trade after the US military carried out strikes in southern Iran, keeping energy markets on edge as a deal to end the war and reopen the Strait of Hormuz remained elusive. Brent futures were up 1.98, or 2.1 percent, to 98.12 a barrel. US West Texas Intermediate crude traded at $91.79 a barrel, down about 5 percent from Friday's close, widening the spread between the two benchmarks. The US military said it conducted self-defense strikes targeting vessels allegedly trying to deploy mines, as well as missile launch locations in southern Iran. The action came as Iran's top negotiator and foreign minister were in Doha for talks with Qatar's prime minister on a potential deal to end the three-month-old war. US Secretary of State Marco Rubio said on Tuesday that negotiating a deal with Iran could take a few days, quashing hopes for an imminent end to the conflict. Both Washington and Tehran have said they made progress on a memorandum of unders...
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