Global oil prices experienced a significant decline on Monday, driven by increasing optimism regarding a potential diplomatic resolution between the United States and Iran. This development has alleviated concerns about extended supply disruptions in the Middle East, which have historically impacted oil markets. Brent crude, the international benchmark for oil, fell by nearly six percent, trading below $100 per barrel, while U.S. West Texas Intermediate (WTI) also reflected similar downward trends in pricing.
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