Oil Markets
Oil prices dipped as investors awaited developments on the Iran ceasefire and President Trump's summit with China's Xi Jinping. Brent crude futures fell to $106.95 a barrel while WTI futures reached $101.52.
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A month after announcing a trade deal to end India's Russian oil purchases, US President Donald Trump has clarified that the United States granted India a temporary 30-day waiver to buy Russian oil stranded at sea. The move aims to ease pressure on global energy markets disrupted by Middle East tensions, including risks around the Strait of Hormuz.