Oil rebounds after Trump rejects Iran peace deal - Reuters
Source: Reuters
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DW NOTE
Trump rejecting an Iran peace deal sent oil up — but from a base 18% below yearly highs, despite four months of strait closure and 5.7 million barrels per day off global supply. Either the market never believed in the blockade's duration, or it's pricing in demand destruction the IEA hasn't published yet.
Bitcoin fell 0.4% to around $79,700 since midnight UTC while Asian tech stocks rallied. The DeFi index dropped 1.8%, and the Fed is set to begin a two-day meeting.
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The United States has not pressured India to cut crude oil imports from Russia, Indian Oil Minister Hardeep Singh Puri said on Tuesday, as Russian cargo arrivals to the world’s third-largest crude oil importer have declined in recent weeks amid an increase in imports from the Middle East. India’s pu