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2026-11-10T15:04:03.920Z

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Oil Retreats on Iran Calm

Oil Retreats on Iran Calm

Oil prices fell on Tuesday after US President Donald Trump signaled a preference for de-escalation with Iran, easing concerns over Middle East supplies. Brent crude fell 2.17% to $90.40 a barrel, while West Texas Intermediate dropped 1.75% to $85.10. Prices declined despite ongoing risks to shipping through the Strait of Hormuz. OPEC production rose in October, supported by Saudi Arabia, Kuwait and Iraq, while Brent fell 23% from its monthly peak of $118. China’s crude imports also reached their highest level since March.

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