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Commodities

US-Iran Peace Deal Hopes Weigh on Oil Prices

Guavy AI Editorial Team
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Oil
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Oil prices dipped on Thursday as investors weighed in on the possibility of a US-Iran peace deal following progress in Iran-Oman talks.

The Brent crude futures price fell by 37 cents, or 0.5%, to $79.08 a barrel, while U.S. West Texas Intermediate futures declined 53 cents, or 0.7%, to $74.69 a barrel.

Economist Yuki Takashima at Nomura Securities attributed the selling pressure to reports of progress in the Iran-Oman talks.

Prices have returned to levels seen when the US and Iran signed an interim peace agreement on June 17, with investors closely watching whether the two sides can reach a final deal.

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