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Oil Prices Drop Over 6% as US-Iran Talks Raise Hopes of Middle East De-escalation

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Oil prices fell sharply by more than 6% after the United States and Iran signaled potential diplomatic negotiations. President Trump announced possible discussions with Iran, prompting hopes of reduced tensions in the region. Brent crude futures saw a steep decline following the announcement. The drop came after a significant price rally last month driven by renewed conflict and attacks on oil tankers. Despite the optimism, uncertainty over the talks and ongoing security risks along key shipping lanes remain.

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