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Global Business News

The Economic Times

Global Business / The Economic Times

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Oil on track for weekly loss even as Iran tensions simmer

Oil prices have dipped, bringing an end to a two-week rally in crude futures. The United States has announced that there are no current negotiations happening with Iran. Geopolitical tensions have ramped up following a warning issued by Russia to Britain, and Donald Trump has speculated that Russia will refrain from attacking NATO nations. These dynamics are complicating diplomatic efforts and creating ripples across worldwide energy markets.

28 Aug 2026 7:08 am