US EditionOil Prices Settle Lower as US Sanctions Ease Fears of Escalation in Iran
- Oil prices settled lower on Friday after the U.S. imposed fresh Iran-related sanctions amid a week-old conflict between Israel and Iran.
- The sanctions, which affect a minimum of twenty organizations, five people, and three ships, were implemented in response to ongoing military actions and missile exchanges between the two countries.
- Despite heightened tensions, oil exports have not been disrupted, the oil and gas rig count fell by one to 554, registering its lowest level since November 2021.
- John Kilduff noted that their actions indicate an effort to address the situation without resorting to conflict, while analysts emphasized that supply risks remain elevated and largely depend on potential U.S. involvement.
- The ongoing tensions and associated political and economic pressures raise the possibility that oil prices may exceed $100 a barrel if supply disruptions intensify, although current diplomatic efforts offer some optimism for a negotiated resolution.
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Oil prices settle lower as US sanctions ease fears of escalation in Iran
Oil prices decreased on Friday. The United States announced
·United States
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Oil prices slip as US sanctions ease fears
Oil prices slipped on Friday as the US imposed new Iran-related sanctions marking a diplomatic approach that fed hopes of a negotiated agreement, a day after President Donald Trump said he might take two weeks to decide US involvement in the Israel-Iran conflict. Brent crude futures were down $2.27, or 2.9%, to $76.58 a barrel by 11:48 am EDT. US West Texas Intermediate crude for July was down 21 cents or 0.3% at $74.93. The more liquid August c…
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Leaning Left0Leaning Right1Center7Last UpdatedBias Distribution88% Center
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