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Euronews
Euronews
Doloresz Katanich

Oil jumps above $100 after failed peace talks, forint surges after the Hungarian election results

Oil United States Euro Europe Strait of Hormuz International Monetary Fund Iran Strait

Markets face a sobering Monday after weekend optimism over a peace talks breakthrough faded. Investors are bracing for a high-impact week shaped by geopolitics, inflation data and the start of earnings season.

Oil prices resumed their climb, with international benchmark Brent crude and the US benchmark WTI trading above $100 a barrel. On Monday morning in Europe, Brent front-month futures were up 7%, trading at nearly $102 a barrel, while WTI gained nearly 8% and surged to $104.

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