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Oil prices drop 5% on US-Iran optimism

World News

27-05-2026 | 08:57

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Oil prices drop 5% on US-Iran optimism

Oil prices plunged Wednesday on rekindled hopes for progress in U.S.-Iran talks aimed at ending the war in the Middle East.

Brent North Sea crude, the international benchmark, fell five percent to $94.61 a barrel, while the main U.S. contract, WTI, tumbled 5.9 percent to $88.31 a barrel.

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