Oil drops as Iran seeks diplomatic talks
Oil prices fell on Thursday after previous increases, amid Iranian announcements of readiness for diplomacy to end the war with the United States. The discussions centered on lifting the maritime blockade and reopening the Strait of Hormuz, but Iran outlined conditions for opening the strait and emphasized that reaching an agreement would require time and effort. Washington stated that finding solutions with Iran entails hard work, with the possibility of military options, while U.S. oil inventories decreased by 3 million barrels, as geopolitical tensions and their impact on global energy markets continue.
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