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Oil rises as Trump faces crucial 60-day deadline for Iran war

CNBC·Lim Hui Jie·about 1 month ago
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United States Marine Corps soldiers seen staged outside of the Federal Building in downtown Los Angeles during the 'No War On Iran' protest after conflicts arise with Iran and Israel on June 19, 2025 in Los Angeles, United States. Anadolu | Anadolu | Getty Images Oil prices climbed Friday, a day after a volatile session that saw the Brent crude contract for June hit a four-year high before retreating. The June contract, which expired on Thursday, climbed to $126.41 a barrel before settling at $114.01. On Friday, the July Brent futures contract rose 1.11% to $111.63 as of 10:15 p.m. ET, while U.S. West Texas Intermediate futures for June gained 0.45% to $105.54. The moves come as U.S. President Donald Trump faces a 60-day deadline under the War Powers Resolution related to military action in the Iran war. Under the 1973 law , a president must withdraw troops within 60 days of notifying Congress of their deployment, unless lawmakers authorize the military action. Congress has not done so.…

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