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Oil faces largest quarterly decline since 2020

Oil faces largest quarterly decline since 2020

Expectations indicate that oil prices are heading toward their largest quarterly losses since 2020, with Brent crude dropping to around $72.92 and West Texas Intermediate to $69.50. This comes amid anticipation of talks between the United States and Iran and regional tensions, as prices continue to decline and a surplus in the oil market is expected in 2027.

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