Oil prices extended their decline on Wednesday after Iran and Oman announced they were discussing a temporary deal to resume shipments through the Strait of Hormuz. West Texas Intermediate crude for October delivery fell more than 2% to $80.49 a barrel, while Brent crude for the same month lost 2% to $86.75. Over five days, WTI has given up nearly 7% and Brent about 9%.
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