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Oil prices increased on Wednesday with the rise of equities. Investors are hoping for a potential Brexit deal between Britain and the European Union which had an impact on the market. Brent rose and was traded at $58.95 a barrel. WTI gained 0.3% and was traded at $52.97 a barrel. According to the analysts, any deal which will avoid "hard" Brexit might boost economic growth and oil prices.
Iran has made it very clear that nothing will stop the nation to export its oil. Foreign Minister of Iran, Mohammad Javad Zarif told its British counterpart that "Iran will continue its oil exports under any conditions". He has also appealed to Britain for releasing the Grace 1 oil tanker. This tanker was seized last week by the British Royal Marines.