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WTI and Brent Crude Fully Erase Gains from Iran Sanctions Extension Expectations

GateNews
MacroeconomicsCommodities

Gate News message, April 29 — WTI crude oil (U.S. benchmark crude futures) and Brent crude (global benchmark crude futures) declined sharply today, completely erasing gains from the announcement of potential extended sanctions on Iran. WTI fell to $100.71 per barrel and Brent to $103.20 per barrel, both down approximately 0.6% intraday.

The pullback comes after initial price gains triggered by reports of a potential extension to Iran's economic sanctions. Market participants have since reversed positions, leading to the current decline.

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