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Oil declines amid Iran talks confirmation
Oil prices fell on Tuesday after strong gains in the previous session, amid speculation that peace talks between the United States and Iran will continue. Trump announced that the talks are ongoing, but reports indicated a halt to the indirect negotiations, leading Brent crude to drop to $94.45 and West Texas Intermediate to $91.60 per barrel. The market is awaiting the success of the negotiations and their impact on production activity, especially with Iranian pressure on the Strait of Hormuz and a partial ceasefire between Hezbollah and Israel.
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