Oil drops as Iran-US talk advances

Oil prices declined today following the conclusion of the first round of talks between the United States and Iran in Switzerland. Tehran announced that it has secured exemptions for its oil and petrochemical exports, which eased concerns over a potential global supply shortage. The price of Brent crude reached approximately $78.84 per barrel, while West Texas Intermediate fell to around $75.11. Negotiations are currently underway to extend the ceasefire between the two countries for at least 60 days, amid rising risks and delays in reaching a final agreement.

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