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Commodities

US-Iran Deal Rumors Send Oil Prices Tumbling Amid Jobs Report Jitters

Guavy AI Editorial Team
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Oil
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Oil prices plummeted on Thursday amid rumors of a potential US-Iran deal. The market is highly sensitive to developments in global politics, particularly those related to oil-producing countries.

The news sent Brent crude futures down by over 3%, reaching around $74.50 per barrel. WTI crude also fell, dropping to about $67.20 per barrel.

The drop in oil prices comes ahead of the highly anticipated jobs report on Friday, which is expected to have a significant impact on markets. However, it's unclear how much influence this will have on oil prices, given the current market sentiment driven by US-Iran deal rumors.

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