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ThePrint

Oil prices climb as U.S.-Iran Switzerland talks are cancelled and Israel intensifies strikes in Lebanon

Oil prices rose after planned U.S.-Iran peace talks in Switzerland were called off and U.S. Vice President JD Vance dropped his travel plans, while Israel stepped up attacks on Lebanon. Brent crude futures gained 0.64% to $80.36 a barrel and the WTI front-month contract rose 1.7% to $77.88 a barrel. The shift in the geopolitical backdrop has weakened confidence that tanker transit through the Strait of Hormuz will resume smoothly, stoking concerns about potential supply disruptions.
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Geopolitics