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Oil Slides on Iran Hopes
Oil prices fell by about $2 a barrel on Wednesday, with Brent crude down 1.85% to $101.68 and West Texas Intermediate down 1.82% to $94.34. The decline came as markets watched the course of the war with Iran and hopes for de-escalation grew, after Donald Trump said Washington had no plans to launch an attack for now, despite continued uncertainty surrounding peace talks. Gulf oil exports averaged 17.1 million barrels a day in October, while U.S. crude inventories fell by 5.27 million barrels in the week ending October 30.
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