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Oil drops for third straight day
Oil prices declined for the third consecutive day in Asian trading, as markets await new diplomatic efforts to end the U.S.-Iran war. Brent crude fell below $104 per barrel after a more than 3% drop over two days, while West Texas Intermediate reached approximately $101. In the Middle East, Saudi Arabia is targeting the resumption of operations for the vital oil pipeline that was halted after a drone attack, and efforts to export oil through the Strait of Hormuz continue amid escalating tensions between the United States and Iran. Meanwhile, the U.S. President stated that the country is considering the possibility of launching extensive attacks on Iran to end the conflict, with a major decision on this matter imminent.
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