00:00So we're going to move on with oil prices which were mixed on Wednesday with Brent settling up slightly but
00:06the US contract edging lower as investors weighed revive expectations of a de-escalation in US-Iran hostilities that could
00:15restore shipping, traffic in the Strait of Hormuz and oil flows in the Middle East.
00:20Brent crude futures settle up 9% or 0.11% at $79.45 a barrel.
00:30US-West Texas Intermediate Futures fell 55 cents or 0.73% to $75.22.
00:38US President Donald Trump said there was an all-day negotiation on Tuesday with Iran characterizing the talks positively while
00:46also threatening to hit Tehran really hard if a deal were not reached.
00:50Iran denied that peace talks were underway.
00:53Its foreign ministry said on Wednesday that Iran and Oman have reached an understanding on how to manage the Strait
00:59of Hormuz and a joint announcement is being finalized.
01:02Before the war started at the end of February, about 20% of the world's oil and liquefied natural gas
01:08passed through the strait.
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