Oil prices fall after US-Iran ceasefire

Oil prices have decreased significantly, with Brent crude dropping by 2.9% to approximately $86 per barrel, and West Texas Intermediate falling by 2.6% to $80 per barrel. This comes after a temporary halt in strikes between the United States and Iran and expectations of resuming peace negotiations. Despite Houthi threats to launch attacks in the Red Sea, the market remains optimistic about the possibility of reaching a ceasefire between the parties. Additionally, Iran's Foreign Minister held talks with his counterparts in Oman and Saudi Arabia to discuss peace in the region.

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