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Commodities

Oil Prices Slump on Hopes for Middle East Peace Deal

Guavy AI Editorial Team
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Oil prices have dropped lower on Friday morning due to hopes for a Middle East peace deal. This development has led to increased optimism about regional stability, which in turn has put downward pressure on oil prices.

The news comes after reports of potential progress in negotiations between Israel and Palestine, sparking hopes for an eventual agreement that could lead to improved relations between the two nations and other countries in the region.

As a result, Brent crude futures have fallen by 1.4% to $67.83 per barrel, while West Texas Intermediate (WTI) crude has dropped by 1.5% to $59.14 per barrel.

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