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Commodities

Oil Prices Plunge After Trump's Iran Decision

Guavy AI Editorial Team
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Oil
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Oil prices have dropped significantly after US President Donald Trump held off on attacking Iran in the hopes of securing a deal that could boost oil supplies from the Gulf.

The price of Brent futures fell $6.35, or 7%, to settle at $83.77 a barrel, while US West Texas Intermediate (WTI) crude fell $4.33, or 5.1%, to settle at $80.34.

This marks the lowest close for Brent since July 13, and the decline is partly due to the start of the less expensive October futures as the front-month after the more expensive September contract expired on Friday.

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