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Oil prices jump nearly 7% after US-Iran talks fail, boosting Shell and BP shares.

Market News
13 Apr 2026
Proactive Investors
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Bullish
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Shares of Shell and BP rose over 1% as oil prices surged nearly 7% following the breakdown of US-Iran nuclear talks. The failed negotiations raised concerns about potential supply disruptions from the Persian Gulf, prompting the US to threaten a blockade. Brent crude prices climbed to nearly $101.66 a barrel, supporting energy stocks despite a weaker broader market. Higher oil prices improve earnings prospects for producers like Shell and BP by increasing the value of each barrel sold.

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