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The Economic Times
The Economic Times
Business

Global Market Today: Oil slips, Asian stocks rise on Iran optimism

Donald Trump Oil Iran United States X Inflation Strait of Hormuz

Oil dropped and Asian stocks edged up after President Donald Trump said he was holding off on fresh military strikes, boosting hopes for a deal that could end the war and revive energy flows through the Strait of Hormuz.

Brent crude oil dropped 2.7% to around $109 a barrel after Trump said plans for a strike on Iran were called off following appeals from Persian Gulf allies, adding that “serious negotiations are now taking place.”

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