Oil fluctuates as headlines drive market
Oil prices declined by over 4%, near their two-month low, after U.S. President Donald Trump canceled plans to strike Iran, easing fears of military escalation in the region. The price of Brent crude fell to around $86.57 per barrel, while Texas crude dropped to approximately $83.91, with expectations that prices may range between $70 and $80 per barrel in the upcoming period. Analyses indicate that the resolution of potential tensions could be reflected in lower energy prices and diminished inflationary pressures.
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