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Crude Oil Futures Prices Rise Amid Uncertain Negotiation Prospects
On April 21, crude oil futures prices increased as the market remained unclear about whether Iran would send a delegation to Pakistan for talks with the United States. Phil Flynn of the Price Futures Group stated in a report that the conflicting signals from Iran are not merely ‘casual diplomatic theatrics,’ but indicate a struggle between pragmatic factions within Iran seeking to ease tensions and hardliners. For the oil market, this suggests that prices will become more volatile.