Brent crude rebounds above $96 as Iran tensions escalate, peace hopes fade

Oil prices recovered above $96 as geopolitical risk returns, with President Trump signaling he 'doesn't need a deal with Iran' and Israeli pressure to resume strikes on Tehran intensifying. The outlook for Russia-Ukraine peace also worsens, reversing earlier post-midterms price declines. The market is repricing supply risk as diplomatic avenues narrow.

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