U.S. Oil Prices Jump More Than 10% Above $105 a Barrel After U.S.-Iran Talks Fail
The move followed failed peace talks between the United States and Iran, according to the source, pushing oil sharply higher at the market open.
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Terms & Concepts
- Crude oil benchmark: A reference price for oil used by markets to track supply, demand, and geopolitical risk.
- Market open: The start of a trading session, when prices can move quickly as new information is absorbed.