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Euronews
Euronews
Doloresz Katanich

Oil drops below $100 while markets rise as US and Iran near a deal

Brent crude oil has fallen below $100 a barrel on Thursday morning as reports from the Middle East indicate that the US and Iran are nearing a deal for the gradual reopening of the Strait of Hormuz.

At the time of writing, the front month contract on Brent crude is trading at around $99.7 per barrel while the US benchmark WTI is at $93.6.

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