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WTI Falls Amid Hopes for De-Escalation in US-Iran Conflict

Guavy AI Editorial Team
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The price of West Texas Intermediate (WTI), the benchmark US Crude Oil price, has retreated from its highest level since June 8 to around $84.00 as hopes for a de-escalation in the US-Iran conflict rise.

After 13 consecutive nights of strikes on Iranian targets, the US paused its bombing campaign late on Friday, prompting Tehran to suspend retaliatory attacks against Washington's allies in the Middle East.

US ambassador to the United Nations (UN) Mike Waltz stated that while forces remained locked and loaded, President Donald Trump wants to give negotiations a little bit of room, reviving hopes for a diplomatic resolution to end the five-month-old US-Iran conflict.

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