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Oil Prices Drop as Talks Ease Tensions | Business and Finance News
Description
Oil prices are plummeting as U.S. and Iran inch closer to de-escalating tensions over the Strait of Hormuz—Brent crude dips below $71, WTI under $68, levels last seen in March. Talks in Doha, initially stalled, now show “positive progress,” with next round set after July 9th—just days after Khamenei’s funeral. Despite Iran’s military still warning of retaliation for U.S. interference and claiming control over the international waterway, oil shipments are surging back to 15 million barrels daily, calming markets and bringing relief to U.S. drivers heading into summer.
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