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Oil Drops On Iran Talks
Description
Oil dropped ~8% — WTI to $90.10 and Brent to $103.91 — after Trump announced productive U.S.-Iran talks and a five-day halt on strikes against Iranian energy infrastructure. The Strait of Hormuz remains closed despite a 48-hour reopening deadline. Goldman Sachs raised its Brent forecast to $110 for March-April, while the IEA called the situation worse than the 1970s oil shocks.
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