Oil prices drop on Iran-US ceasefire hopes
Prices of oil saw a slight decline in Asian trading, amid market optimism about the possibility of reaching a ceasefire between the United States and Iran. Brent crude fell by 74 cents, or 0.69%, to reach $105.85 per barrel, while West Texas Intermediate declined by 81 cents, or 0.86%, to $93.80 per barrel. The price had risen yesterday to its highest level in a week, with Brent increasing by 3.4% and West Texas Intermediate by 2.7%.
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