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Commodities

Oil Prices Plummet Amid Renewed Hopes for US-Iran Deal

Guavy AI Editorial Team
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Oil
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Oil prices plummeted by over 5% on Monday as investors breathed a sigh of relief following two consecutive nights without US strikes on Iran, opening up possibilities for new talks. The price of North Sea Brent crude dropped 5.58% to $91.38, while its US counterpart West Texas Intermediate slid $5.46% to $84.43.

The downward trend in oil prices suggests that investors are cautiously optimistic about the prospects of a US-Iran deal. This development has given rise to hopes for a resolution to the ongoing tensions between the two nations.

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