Oil rebounds as US-Iran talks remain uncertain

Oil prices show a recovery of about 1% after previous sharp losses due to uncertainty surrounding talks between Washington and Tehran, particularly regarding control of the Strait of Hormuz and related threats. This comes amid uncertainty about the possibility of reaching a diplomatic agreement to de-escalate the tensions, along with increasing geopolitical risks following an attack on a cargo ship near Oman, which has further raised global oil costs and prices.

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