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Oil drops as US-Iran talks advance
Oil prices declined on Monday after progress in talks between the United States and Iran, which eased concerns about a potential shortage in global supplies. Brent crude fell to $79.26 per barrel, while Iran’s exports increased again following their resumption. Meanwhile, Gulf countries plan to increase their supplies to compensate for any possible shortages. The U.S. president had previously threatened to reignite hostilities with Iran but later downplayed concerns following diplomatic advancements.
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