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WTI Crude Oil Climbs Above $96 Per Barrel as U.S.-Iran Peace Talks Stall

GateNews
Commodities

On Monday, WTI crude oil futures climbed above $96 per barrel as U.S.-Iran peace negotiations stalled and the Strait of Hormuz remained effectively closed. President Trump instructed negotiators to pause talks, while Iran’s President Pezeshkian reiterated Tehran would not participate in negotiations “under threat or blockade.” The conflict, now in its ninth week, has triggered what the International Energy Agency described as the largest energy supply shock on record, with U.S. maritime blockades continuing to restrict Iranian crude exports.

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