Meanwhile, Crude Oil Falls Sharply as Markets Hope for US-Iran Diplomatic Breakthrough Oil markets posted heavy losses on Monday, with prices dropping to a two-week low amid growing expectations that the United States and Iran may eventually reach a diplomatic understanding. Brent crude lost $4.71 to trade at $98.83 per barrel, while US crude fell $4.57 to $92.03 per barrel. The market downturn reflected investor optimism that easing tensions between the two countries could help stabilize global energy supply routes in the Middle East.
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