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Oil Prices Slide Amid Growing Hopes for US-Iran Diplomacy

Guavy AI Editorial Team
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Oil
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Oil prices dipped to their lowest level in over a week on September 21 as hopes for diplomatic de-escalation between the US and Iran grew.

The Brent crude futures and US West Texas Intermediate crude touched their lowest levels since September 10, with Brent falling $2.16, or 2.08%, to $101.71 a barrel after settling 0.91% lower on September 18.

US West Texas Intermediate crude declined $2.15, or 2.14%, to $98.15 a barrel following a 1.58% drop in the previous session.

Market analyst Tim Waterer said that 'a degree of risk premium is being removed from oil prices on hopes that a diplomatic path to de-escalate the US-Iran war may arrive this week.'

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