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Oil prices stay high above $100 amid Iran war, Hormuz risks, and Trump-Xi talks uncertainty.

Market News
14 May 2026
FXEmpire
View Source
Bullish
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Oil prices remain elevated with Brent crude around $107 and WTI near $101, supported by ongoing Iran conflict and risks at the Strait of Hormuz. The market is also cautious ahead of the Trump-Xi meeting, which could ease geopolitical tensions if successful. Technically, Brent shows strong bullish momentum with potential to reach $127-$135, while WTI is range-bound between $80 and $120, awaiting a breakout above $110 for further gains. Continued closure of the Strait of Hormuz could keep prices high due to supply concerns.

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