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Commodities

Middle East Tensions Ease, Oil Prices Drop Sharply

Guavy AI Editorial Team
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Oil
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Oil prices plummeted by nearly 16% over the past three trading sessions, marking their worst performance in over six years.

The global benchmark Brent crude closed at $84 per barrel on Tuesday, while WTI settled near $79 per barrel.

The sharp decline is attributed to easing tensions in the Middle East, as both the U.S. and Iran continued to refrain from launching attacks.

U.S. President Trump's meeting with Israeli Prime Minister Netanyahu has paved the way for further diplomatic efforts, leading markets to bet on potential progress in peace negotiations.

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