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Brent crude falls 5% to $78.96

Brent crude falls 5% to $78.96

Oil prices dropped by more than 5%, marking their lowest level in three months, as details of the agreement to end the war in the Middle East and the reopening of the Strait of Hormuz emerged. Brent contracts fell to $78.96 per barrel, and West Texas Intermediate to $76.05, reflecting the markets' anticipation of stabilization in the oil market following recent regional tensions.

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