Oil extends losses on Middle East supply hopes
Oil prices fell for a fourth consecutive session as diplomatic talks between Iran and Qatar sparked expectations that shipping through the Strait of Hormuz could soon resume.
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Brent Crude Oil fell $1.36 to $86.48 a barrel on Thursday morning, extending a streak of losses on expectations of diplomatic talks. The drop marks a fourth consecutive decline for global benchmarks. Traders are pricing in potential shipping relief through the critical Strait of Hormuz amid ongoing discussions.
