US-Iran Conflict Threatens Ceasefire Agreement, Oil Prices Rise
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Oil prices rose today as the market assessed whether renewed conflict between the United States and Iran would undermine hopes for a short-term peace agreement. West Texas Intermediate crude for June delivery in New York rose 0.6% to settle at $95.42 a barrel, while Brent crude for July delivery in London gained 1.2% to $101.29 a barrel.