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Oil prices fell more than 3% in early Asian trading on Monday as markets awaited Iranian-Qatari talks aimed at ending the U.S.-Israeli war on Iran, amid hopes that diplomatic progress would ease the risk of escalation. Brent crude fell 3.2% to $109.75 a barrel, while West Texas Intermediate dropped 3.3% to $100.69. Analysts attributed the decline to a technical correction after last week’s gains and a easing of immediate pressures, while markets continued to watch for a possible resumption of fighting. OPEC+ kept its December production targets unchanged.
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