Oil Falls as US-Iran Peace Talks Advance

Oil prices declined below $80 per barrel, amid progress in talks between Iran and Oman, and investors awaiting a potential peace agreement between the United States and Iran, as well as developments in reopening the Strait of Hormuz. Brent crude futures fell to $79.16, and US natural gas to $74.83, while US data showing rising oil stocks pressured the market. This comes as investors monitor negotiations aimed at reaching a final deal on Iran's nuclear program and its impact on global oil markets.

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