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Oil Prices Plummet 9% Amid Easing US-Iran Tensions

Guavy AI Editorial Team
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Oil
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Oil prices declined over 9% this week due to easing geopolitical tensions between the US and Iran, which reduced concerns over Middle East supply disruptions.

The Brent crude benchmark traded at $81.81 per barrel on Friday, down 9.21% from last Friday's close of $90.11, while West Texas Intermediate (WTI) traded at $76.71 per barrel, decreasing 9.4% from $84.67 a week earlier.

Renewed optimism over diplomatic efforts between Washington and Tehran contributed to the price decline, as US President Donald Trump said talks with Iran had resumed and were making progress.

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