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Brent Crude Plummets Below $105 as Iran-Gulf Talks and Demand Slump Loom

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The Story

News Summary

  • Brent crude tumbled nearly 4% below $105 as Iran and Gulf states planned diplomatic talks in Oman regarding Strait of Hormuz shipping.
  • Additionally, the IEA and OPEC slashed long-term global oil demand outlooks, amplifying downward pressure despite ongoing Middle East supply concerns.
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BRENT price history

108.93 +69.86% over the displayed period

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