Oil prices have declined despite the deteriorating diplomatic relations with Iran, raising concerns over potential geopolitical tensions. Former President Donald Trump has issued warnings to China and Russia, adding further complexity to the global oil market landscape. U.S. WTI and Brent crude oil prices have decreased, while prediction markets reflect a decline in the odds of crude oil reaching a new all-time high by the end of September, with investors viewing current geopolitical instability as a factor hindering price surges.
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