Oil prices experienced a sharp decline over three days, with both Brent and WTI falling by approximately 16%. Brent settled at $84.09 per barrel while WTI closed at $79.26 per barrel. The easing of geopolitical tensions between the U.S. and Iran has been partly attributed to diplomatic efforts, including meetings between former President Donald Trump and Israeli Prime Minister Benjamin Netanyahu. Markets now suggest a reduced likelihood of significant disruptions to crude oil supplies and decreased expectations for further geopolitical escalation.
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