Oil dips amid ongoing talks
Global oil prices have fallen after the conclusion of the first round of talks between the United States and Iran in Switzerland, amid indications of progress on several economic and political issues. Brent crude dipped to $79.04 per barrel, following an initial rise during trading, while US West Texas Intermediate futures also declined. The Iranian Foreign Minister announced that Iran has obtained exemptions related to its oil and petrochemical exports, as discussions on reconstruction begin, which helped soothe concerns about global market supplies. A joint committee has been established to follow up on the understandings between the two sides, despite ongoing political tensions in the region.
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