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Oil falls 5% amid US-Iran tensions
Oil prices fell by more than 5%, reaching their lowest levels since July 2026, amid signs of progress in negotiations between the United States and Iran and a pause in mutual attacks. This has helped ease concerns about disruptions to global supplies. These developments come after a setback in military escalation, as Washington halted airstrikes on Iran, and Trump’s statements indicated the possibility of a diplomatic resolution. Despite ongoing regional tensions, the risk of supply disruptions in the Red Sea remains, especially with continued threats and coordination between Gulf countries and Iran to ensure the freedom of navigation.
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