-- The oil prices in Taiwan are not expected to drop back to pre-conflict levels even if tensions in the Middle East ease in the near term, Taiwan News reported Wednesday, citing the country's Ministry of Economic Affairs.
Deputy Economic Affairs Minister Ho Chin-tsang said crude prices will continue to be driven by geopolitical developments and the government will keep monitoring global market conditions. His remarks came as signals of potential renewed talks with Iran from US President Donald Trump raised hopes of some stabilization in oil markets after weeks of volatility.
National Development Council Minister Yeh Chun-hsien noted that some US think tanks expect the conflict to last four to eight weeks, while recent trends in oil and gas prices indicate initial signs of slowing down, the news outlet said.
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