Oil Prices Fall on Diplomacy Hopes
Oil prices declined in a choppy session as renewed diplomatic efforts toward peace between the US and Iran offset ongoing supply concerns in the Middle East.
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Brent Crude Oil fell 44 cents, or 0.38%, to $114.88 a barrel on Thursday afternoon as renewed diplomacy offset Middle East supply risks. The session unwound gains from earlier in the week following diplomatic overtures between the United States and Iran over peace talks. Investors are weighing diplomatic breakthroughs against escalating infrastructure attacks across major crude-producing regions.
