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Trump Announces Resumed U.S.-Iran Diplomacy, Crude Prices Plummet

Guavy AI Editorial Team
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Oil
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Global oil prices plummeted on Monday after U.S. President Donald Trump announced that negotiations with Iran would resume and planned military strikes against the Islamic Republic had been suspended.

The announcement eased fears of a broader regional conflict that could disrupt global energy supplies, causing international benchmark Brent crude to drop more than 5% in early trading, trading at around $83.40 per barrel.

The decline came after weeks of elevated prices driven by heightened geopolitical tensions between Washington and Tehran, which had raised concerns over the security of oil exports from the Middle East.

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