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VCSC Daily - Positive development on oil price surged the market - TLG, ACB, BID, STB, GAS

For a long time, global market participants have worried that Iran's re-entry into oil export markets would drive prices down, but today the country officially voiced support efforts by Saudi Arabia and Russia to steady the global oil market even though it is still unwilling to commit to any reduction of its own oil production. The news was adequate to drive Brent Crude oil up 2.17% to USD 35.25/bbl.