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Oil Prices Surge Amid US-Iran Tensions and Inventory Concerns

Oil Prices Surge Amid US-Iran Tensions and Inventory Concerns

Geneva: Oil prices climbed today, hovering near seven-month highs, as investors gauged whether US-Iran talks could avert a military conflict that risks supply disruptions, though gains were capped by a build in US crude inventories. Brent futures were trading at $71.12 per barrel, up 27 cents, or 0.3 percent. West Texas Intermediate (WTI) futures rose 23 cents, or 0.4 percent, to $65.65. According to Oman News Agency, Brent gained 8 cents on Wednesday, while WTI fell 21 cents.