Oil drops after sharp rise
Oil prices declined after rising more than 4% in the previous session. Brent fell to $98.16 per barrel, down $1.42, or 1.43%. West Texas Intermediate also dropped to $92.23, a decrease of $1.66, or 1.77%. This decline comes amid escalating security tensions in the region, with Iran and the United States exchanging accusations over violations of the ceasefire agreement, as efforts continue to reopen the Strait of Hormuz despite military disagreements.
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