Oil drops amid easing supply fears
Oil prices dropped today, Monday, by around 2% after talks between the United States and Iran concluded in Switzerland. Tehran announced that it has secured exemptions for its oil and petrochemical exports, alleviating concerns about supply shortages in global markets. Brent crude contracts fell by 1.9% to $79.05 per barrel, while West Texas Intermediate contracts declined by 0.73% to $75.03. Officials from both countries confirmed the end of their first round of talks, which aim to extend the ceasefire and address reconstruction issues.
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