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Brent Crude Prices Plummet 3.4% Amid Trump's Iran Pause

Guavy AI Editorial Team
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Oil prices plummeted by 3.4% to $88.58 per barrel for Brent crude futures in October, following US President Donald Trump's decision to pause military strikes on Iran.

The move eased concerns over an immediate disruption to Middle East oil supplies and prompted investors to unwind the geopolitical risk premium built into prices during the previous week's rally.

However, renewed military activity revived concerns over potential supply disruptions, with joint US-Saudi strikes against Iran-backed groups in Iraq, Iran's attempted ballistic missile attack on US forces, and fresh US sanctions targeting Iran's oil trade all supporting prices.

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