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Brent Crude Holds Above $103 as Trump Rules Out Iran Sanctions Relief

Global oil prices remained elevated after US President Donald Trump dismissed the possibility of easing sanctions on Iran, keeping markets on edge. Brent crude climbed past $103 per barrel while WTI traded near $89. The uncertainty stems from ongoing geopolitical tensions between the United States and Iran, which continue to weigh on supply outlooks. Qatar has been actively mediating efforts to reduce tensions between the two nations. Meanwhile, Saudi Arabia resumed oil exports through the Red Sea, offering some relief to regional supply chains.