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Oil prices rise amid US-Iran tensions over potential strikes on Iran's infrastructure

Market News
16 Jul 2026
CNBC
View Source
Bearish
pluang ai news

Oil prices increased as tensions escalated between the US and Iran, with Iran threatening to retaliate against regional infrastructure if the US strikes its key facilities. US West Texas Intermediate futures rose 1.32% to $80.09 per barrel, while Brent futures gained 1.33% to $85.35 per barrel. Despite the threats, experts believe a limited agreement remains possible due to economic incentives on both sides, including Iran's access to frozen assets and export waivers. The situation remains volatile as diplomatic talks continue.

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