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Oil prices hold steady as Iran rejects interim deal extension
The U.S. and Iran agreement was designed to open the Strait of Hormuz while talks on a final nuclear deal proceeded within 60 days.
CNBC reports oil prices were little changed as Iran said it would not extend an interim agreement with the United States, while warning it could escalate the conflict.
The deal was intended to create conditions for opening the Strait of Hormuz as both sides negotiated a final agreement over Tehran's nuclear program, with the timeline set for within 60 days.
With the interim extension ruled out, the negotiation process around the nuclear issue remains the focus, according to CNBC, as market participants weigh the risk of heightened tensions affecting energy flows.