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Oil prices fall ahead of Switzerland talks
Oil prices retreated today, Tuesday, after a sharp decline in the previous session, as investors awaited progress in the resumption of oil flows through the Strait of Hormuz following talks between the United States and Iran. Brent crude fell to $77.70 per barrel, while West Texas Intermediate declined to $73.74, amid news of a 60-day sanctions waiver and increased tanker traffic through the strait. Additionally, data showed U.S. oil inventories dropping to the lowest level since 1983.
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