Araghchi says Iran came to New York to 'forge peace'
Araghchi says Iran came to New York to 'forge peace' Iranian foreign minister Abbas Araghchi said that Iran attended the UN General Assembly last week to "forge peace" with the US, but added that it will "remain steadfast" in the face of aggression. "President Pezeshkian and I did not come to New York to sell a war. We came to forge peace," he wrote in a post on X. "Iran nonetheless remains…
West Texas Intermediate (WTI) oil prices surged above $93.00 on Monday following US President Donald Trump's rejection of an Iranian peace deal. Iran had proposed reopening the Strait of Hormuz, but Trump dismissed it, stating that Tehran was eager to make a deal. Both Iran and Saudi-backed coalition forces in Yemen reported recent military actions, heightening geopolitical risks.
Traders remain cautious, as upcoming US crude oil inventory data could impact WTI prices. Analysts note that renewed Middle East tensions and a tight oil market raise concerns about supply and inflation, potentially supporting higher US interest rates. The price of WTI, as a benchmark for the oil market, is affected by global demand, political instability, OPEC decisions, and the value of the US Dollar.
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