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Oil drops below $100 as tensions ease
Oil prices have dropped significantly, with Brent contracts falling to $99.7 per barrel and U.S. crude declining by 5.1% to around $95. This comes amid regional and international efforts to de-escalate tensions between Washington and Tehran. The drop followed comments from Trump suggesting the possibility of a meeting with Iran’s leader, which halted fears of military escalation and increased the likelihood of a diplomatic agreement. Meanwhile, Qatari mediation efforts continue to seek a resumption of talks between the two sides. However, ongoing tensions still exert pressure on global oil prices, despite their temporary decline.
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