Oil price hits $102.13

Oil prices slightly declined after rising by 4% in the previous session, amid reports of Iran's openness to diplomatic efforts to end the war with the United States. Brent contracts fell to $102.13 per barrel, and West Texas Intermediate to $91.56, as disagreements between the two countries continue over how to reach an agreement. Iran confirmed that it is receiving the U.S. response to its peace proposals, which include lifting the maritime blockade on its ports and reopening the Strait of Hormuz. Meanwhile, the Americans are continuing to assess their oil stocks, which increased by 3 million barrels to reach 426.4 million barrels, amidst discussions about imposing restrictions on diesel exports.

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