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Brent Crude Drops to $87 as Strait of Hormuz Geopolitical Tensions Ease

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The Story

News Summary

  • Brent crude dropped toward $87 per barrel as easing geopolitical concerns weighed on prices.
  • Iran and Oman opened talks over a joint maritime corridor in the Strait of Hormuz, while softer-than-expected US sanctions on Iran further diminished immediate supply disruption fears.
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BRENT price history

104.61 +64.07% over the displayed period

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