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Oil prices were largely steady on Tuesday, April 16, after the US announced plans to hit Iran with new sanctions after its weekend drone attack on Israel, and as Israel’s war cabinet is also set to meet for the third time in three days.
The current cool off in prices comes after concern that Iran would respond to the April 1 strike on its embassy compound in Damascus sent Brent to $92.18 last week -its highest since October. But prices retreated on Monday after Iran’s attack on Israel over the weekend proved to be less damaging than anticipated.
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Published: 16 Apr 2024, 10:32 PM IST
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