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Oil falls on Iran peace hopes

Oil falls on Iran peace hopes

Brent crude fell more than 6.5% on Monday to $105.55 a barrel, its lowest level since 16 October, amid hopes of progress in US-Iran talks to end the eight-month war. Iranian officials said mediated consultations were continuing, while US Vice-President JD Vance expressed optimism about a negotiated settlement. The price drop lifted airline shares and lowered government borrowing costs.

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