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World oil prices drop 5% on hopes over US-Iran war talks

World News

07-05-2026 | 09:01

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World oil prices drop 5% on hopes over US-Iran war talks

Global oil prices fell more than five percent on Thursday on optimism over talks aimed at ending the Middle East war.

International benchmark, Brent North Sea crude, shed 5.1 percent to $96.06 a barrel.

The main U.S. contract, West Texas Intermediate, lost 5.5 percent to $89.87.

AFP

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