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West Texas Intermediate traded around $96 a barrel.
Pakistan's army chief is mediating talks in Tehran, signaling possible progress toward a US-Iran peace deal.
KEY POINTS
- Iran acknowledged the latest US proposal partly bridged the negotiation gap, but major disputes remain.
- Global crude oil and product stockpiles are being drawn down at a record pace, says Goldman Sachs.
- The International Energy Agency may release additional oil stockpiles if the crisis continues.
COMPANIES
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