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Oil Prices Sink as Iran and Ukraine Peace Optimism Builds
Crude oil prices extended their decline today, with both Brent crude and WTI shedding over $1 in Asian trade earlier in the day on growing hopes for peace in Ukraine and Iran.
AI Summary
Crude oil prices fell further on Thursday, with Brent and WTI each dropping more than $1 in Asian trading. The decline followed rising optimism about peace talks in Ukraine and Iran. At the time of writing, Brent was priced at $91.32 per barrel and West Texas Intermediate at $85.32 per barrel. The slide reflects market expectations that reduced conflict risk could lower demand for oil.
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