Economic TimesLean R·
Oil prices edge lower as Iran says it is open to diplomacy to end the war
Oil prices dropped after a previous increase, with Brent crude futures falling by 0.9% to $102.13. Iran expressed willingness for diplomatic discussions to resolve the ongoing US-Iran conflict which remains contentious. The reopening of the Strait of Hormuz was a focal point of indirect negotiations between the two nations. Meanwhile, US crude inventories reportedly rose by 3 million barrels last week, contrary to analysts' expectations.
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