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00:02Oil prices fell Monday after President Trump said the U.S. and Iran held productive talks
00:07and ordered a five-day halt on strikes against Iranian energy infrastructure, according to
00:12CNBC.
00:13West Texas Intermediate dropped 8 percent to $90.10 per barrel, while Brent crude fell
00:19about 8 percent to $103.91.
00:22Trump said the U.S. and Iran held productive talks aimed at resolving hostilities and ordered
00:27a five-day pause on strikes against Iranian energy infrastructure.
00:31The statement followed a 48-hour deadline for Iran to reopen the Strait of Hormuz, which
00:36remains closed.
00:37Goldman Sachs raised its Brent forecast to $110 for March and April and increased its WTI
00:43outlook.
00:43The bank said constrained flows through Hormuz could push prices higher.
00:47The International Energy Agency warned the situation is very severe, adding that it is
00:52worse than the oil shocks of the 1970s and the impact of the Russia-Ukraine gas crisis
00:57combined.
00:57For all things money, visit Benzinga.com.
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