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Oil Prices Rise as Traders Grow Skeptical of U.S.-Iran Deal
Brent and WTI gained as traders doubted a deal would emerge, with both benchmarks rebounding after a 2% drop on Thursday.
- Oil prices climbed in early Asian trade on Friday as skepticism grew that U.S.-Iran negotiations would produce a breakthrough, with Brent and WTI futures rising after Thursday's decline.
- Six weeks into the ceasefire, efforts to secure a lasting agreement have made little meaningful progress. Markets frequently react to claims from both sides before rebounding when nothing materializes.
- State Marco Rubio said there were "some good signs" in negotiations but cautioned against being "overly optimistic." He warned against expecting quick results.
- President Donald Trump said Washington would "get the highly enriched" uranium stockpiles from Iran and rejected any Tehran plan to impose transit charges in the Strait of Hormuz, calling it a "Toll."
- An Iranian official said Tehran could "downblend" its uranium stockpile itself instead of handing it over. The UAE is aggressively focused on increasing export capacity beyond the Strait of Hormuz with a new pipeline.
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Channel News AsiaReposted by 
Dawn
DawnOil prices rise as investors doubt breakthrough in US-Iran peace talks
SINGAPORE: Oil prices climbed on Friday (May 22) as investors doubted the prospects of a breakthrough in United States-Iran peace talks, but held on track for a weekly loss.Brent crude futures
·Singapore
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Oil Prices Rise as Traders Grow Skeptical of U.S.-Iran Deal
Oil prices climbed in early Asian trade on Friday as skepticism grew that U.S.-Iran negotiations would produce a breakthrough, with all the major sticking points still unresolved despite claims of progress. At the time of writing, Brent futures were trading at $104.80, 2.13% higher on the day, while WTI futures climbed to $97.99, up 1.70%. The price spike comes after both benchmarks fell roughly 2% on Thursday to their lowest levels in nearly tw…
·London, United Kingdom
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Coverage Details
Total News Sources17
Leaning Left3Leaning Right0Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 43%
C 57%
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