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    Oil prices fall on Iran ceasefire hopes

    6 days ago

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    Benchmark Brent crude oil prices dropped 8% to $87.55 per barrel amid renewed hopes for a ceasefire between the US and Iran. The decline follows a period of heightened volatility due to escalating conflicts affecting the Strait of Hormuz, a crucial oil shipping route. Analysts suggest that lower oil prices may ease inflation concerns for central banks.
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