Oil reaches lowest since March amid US-Iran talks

Brent crude prices dropped to their lowest levels since early March, reaching $87.33 per barrel, a decline of 3.37%. Meanwhile, West Texas Intermediate crude traded at $84.88, down by 3.23%. This comes amid growing confidence that a peace agreement between the United States and Iran may be imminent, leading to an improvement in market expectations. However, global and regional oil inventories remain low and could continue to decline even if the agreement is signed.

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