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The Economic Times
The Economic Times
Business

Crude oil prices slide 4% as markets look past Iran sanctions

Iran Oil United States Scott Bessent Kazakhstan Russia

Oil prices fell sharply on Tuesday as traders took a more measured view of the latest US sanctions on Iran, betting that the move could put greater pressure on Tehran without immediately threatening crude supplies.

Brent crude fell 4.2% to $88.34 a barrel, while US West Texas Intermediate crude dropped 3.9% to $81.67. Both benchmarks touched their lowest levels since August 17.

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