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Commodities

Oil Prices Plummet as Trump Talks Ease Tensions

Guavy AI Editorial Team
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Oil
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Crude oil prices declined on Tuesday as US President Donald Trump's comments on diplomatic talks with Iran eased geopolitical risks.

The resumption of operations at the Caspian Pipeline Consortium also contributed to the decrease in supply concerns, impacting global and domestic MCX futures.

Brent crude futures fell 1.19% to $84.85 per barrel, while West Texas Intermediate (WTI) crude futures dropped 1.28%, trading at $81.55 per barrel.

In India, the Multi Commodity Exchange (MCX) mirrored this global trend, with the August crude oil futures contract falling 1.67% to ₹7,824 and September contracts down 1.11% to ₹7,657.

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