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2026.03.2707:12:42UTC+00Brent Turns Higher as Iran War Drags On

Brent crude futures climbed back above $108 per barrel on Friday, erasing earlier losses amid doubts that the United States and Iran will reach a near-term agreement to end the war. Reports suggest the Pentagon is weighing the deployment of up to 10,000 additional ground troops to the Middle East, while Iran is reportedly mobilizing more than 1 million troops in response.

At the same time, President Donald Trump has extended the deadline for a planned strike on Iranian energy infrastructure to April 6 to allow more time for negotiations, saying talks with Tehran were going “very well.” He also noted that Iran had permitted 10 oil tankers to transit the Strait of Hormuz this week as a goodwill gesture. Treasury Secretary Scott Bessent added that an insurance program to support shipping through the strait would begin soon.

Brent prices remain up roughly 50% since the conflict began, as Tehran has effectively shut the narrow chokepoint, through which about one-fifth of the world’s energy supplies normally pass.

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