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Oil dips as US-Iran tensions ease
Oil prices fell by more than a dollar per barrel, as fears of an escalation in military conflict between the United States and Iran declined, following Washington's announcement to suspend its air campaign against Tehran and positive talks between the two sides. Brent crude dropped to $86.89 per barrel, while West Texas Intermediate fell to $81.16, their lowest levels in about two weeks. This reflects a easing of tensions and improved market outlook for oil amid the possibility of reaching a diplomatic settlement.
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