Brent Oil Gains Over 2% on US-Iran Tensions and Venezuelan Supply Deal

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Brent futures extended gains after climbing over 2% as US-Iran tensions escalated and Kazakhstan’s main export pipeline resumed full operations. LSEG data showed the first Venezuela-to-LOOP cargo departing under a 50-million-barrel supply deal, while US warship deployments and new sanctions heightened supply risk, signaling further crude rallies.

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