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Oil slips as Iran strike fears fade and OPEC+ readies more supply
CNBC World links the move to lower “war premium” risk after a canceled strike on Iran, alongside an OPEC+ output increase plan.
Oil prices fell after weekend developments eased concerns about potential military action involving Iran, according to CNBC World.
The outlet said President Trump stepped back from a strike and that the reduced geopolitical risk, combined with an OPEC+ output hike, drained the war premium embedded in crude.
As crude moved lower, CNBC World reported that stock futures rose, suggesting investors were shifting from oil price risk to calmer market conditions heading into the week.
Latest closeWTI crude $86.80 ▲3.8%
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