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Oil Prices Wobble as U.S.-Iran Deal Faces Tests
The New York Times • • business
Key Points:
- Oil prices fluctuated on Friday amid emerging cracks in the preliminary US-Iran deal aimed at ending the war.
- Negotiations were postponed after US Vice President JD Vance delayed his trip to Switzerland, while Israel launched new strikes in Lebanon, underscoring the fragility of the agreement.
- Uncertainty around conditions in the Strait of Hormuz has caused shipping companies to reconsider the safety of transiting this key oil and gas passageway.
- Despite volatility, oil prices are still on track for a second consecutive weekly decline, influenced by recent, though unstable, diplomatic progress.
