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Wed · 04 Nov 2026

Oil Holds Near One-Week Highs as US-Iran Deal Hopes Fade

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Oil Holds Near One-Week Highs as US-Iran Deal Hopes Fade

🛢️ MARKETS — Oil steady at highs means traders already priced out the peace deal. 📌 LOOK CLOSER: With Hormuz "irrelevant" per Washington and Iran's $300B demand unmoved, markets stopped pricing a deal and started pricing the plateau. Brent holding near weekly highs without fresh escalation signals traders see no off-ramp — just managed disorder. That floor is fragile: any attribution on the burning vessel breaks it upward fast.

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