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WTI Crude Oil Prices Fall Amid Improved Middle East Shipping Flows and US-Iran Negotiations

Guavy AI Editorial Team
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Oil
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WTI crude oil prices declined on Tuesday, extending a two-day slide as hopes of improved Middle East shipping flows and potential US-Iran negotiations outweighed supply disruption risks.

The decline accelerated after reports suggested that the US State Department was preparing to return diplomats to Middle Eastern embassies evacuated before and during the conflict.

Iran and Oman reportedly agreed on a shipping lane and a joint project to clear mines, while reports also suggested that navigation through the Strait of Hormuz could gradually normalize.

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