Oil hits fresh highs as Iran crisis deepens and mediation talks emerge
TL;DR Summary
Oil prices jumped to the strongest levels since the start of the Iran crisis, with Brent around $88–89 a barrel and WTI over $85 as traders fret about prolonged supply disruption; the surge comes amid mediation talks reported by Iran and others, and after Saudi-led OPEC+ agreed to a modest production increase as energy markets weigh regional risk and policy responses.
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