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<Commodity>Brent Oil Futures End 11% Lower Below USD100, as US-Iran War De-fuses
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US President Donald Trump stated on Monday that the US and Iran engaged in productive talks to end the war and hence he ordered a five-day halt on attacks against Iran's energy infrastructure. Although it is unknown when the Strait of Hormuz will reopen, oil prices plummeted on Monday. New York oil futures for May delivery closed down 10%, at USD88.1. Brent oil futures for May delivery closed down 11%, at USD99.9. However, Goldman Sachs radically raised its oil price forecast on Monday, predicting that the average price of Brent crude for March and April will reach USD110 per barrel, up from the previous forecast of USD98. AASTOCKS Financial News Website: www.aastocks.com |
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