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Oil drops as US-Iran talks suspected

Oil drops as US-Iran talks suspected

Oil prices dipped slightly, with Brent crude declining by 0.4% to $88.87 per barrel, while West Texas Intermediate remained steady at $82.47. Despite ongoing military escalation between the United States and Iran and threats to vital maritime routes like the Strait of Hormuz, markets are supported by expectations of mediation efforts aimed at calming tensions and reducing the risk of disrupting oil supplies.

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