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Iran denies ceasefire extension talks, oil prices tick higher
WTI crude rose 0.2% to $83.35 after earlier trading near $82.50, as renewed ceasefire speculation faded.
Forexlive reports there were rumors that the US and Iran might seek to extend a ceasefire that was set to lapse on 17 August, but both sides appear to have moved on from any such agreement, amid continued military strikes and attacks in the Strait of Hormuz.
Iran’s position, as characterized by the outlet, is that the ceasefire does not exist anymore because there was no effective start date that would allow an extension, and that the US violated the arrangement shortly after it was reached.
Forexlive adds that the renewed headlines about potential talks helped lift oil prices, with WTI crude up 0.2% to $83.35 after hitting lows around $82.50 earlier in the session.
Latest closeWTI crude $83.42 ▲1.6%