Oil rose after efforts to resume peace talks over the Iran war stalled, with the Strait of Hormuz remaining virtually impassable, extending disruptions in the Middle East that have roiled global markets.
The war in the Middle East is putting pressure on the Japanese government to consider energy-saving measures, a challenge for Prime Minister Sanae Takaichi as she seeks to calm public anxiety over potential shortages.
Oil prices fell on fresh hopes that elusive peace talks between the US and Iran may materialize after all and pave the way for the resumption of energy flows though the vital Strait of Hormuz.
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