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Oil Markets Caught Between Iran War Risks and Emergency SPR Releases
Crude oil gave back ground on Thursday as traders weighed emergency supply against tentative efforts to reopen talks with Iran. Neither side has taken control.
Summary
Crude oil gave back ground on Thursday as traders weighed emergency supply against tentative efforts to reopen talks with Iran. Neither side has taken control. The U.S. Strategic Petroleum Reserve is delivering barrels, but the reserve is near its lowest level since 1982.
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