After falling in the previous session, Crude oil futures regained the lost ground and ended higher on Wednesday amid tensions between the U.S. and Iran. Oil prices jumped after Vice President JD Vance said Iran failed to address core U.S. demands in nuclear talks earlier this week. He said that in some ways it went well, they agreed to meet afterwards. But in other ways it is very clear that the president has set some red lines that the Iranians are not yet willing to actually acknowledge and work through.
Benchmark crude oil futures for March delivery surged $2.86 or 4.59% to settle at $65.19 a barrel on the New York Mercantile Exchange. Brent crude for April delivery increased $2.93 or 4.36% to settle at $70.35 a barrel on London's Intercontinental Exchange.
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