The crude oil market experienced a decline of over 2 percent on Friday, reflecting traders' cautious optimism regarding a potential ceasefire agreement involving the United States, Israel, and Iran. Brent crude oil prices settled at $92.05 per barrel, marking a decrease of $1.66 or 1.8 percent. Meanwhile, the US West Texas Intermediate (WTI) also saw a drop, closing at $87.36 per barrel. This market movement indicates a response to geopolitical developments in the region that could influence oil supply dynamics.
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