NewzOil prices retreated on Thursday, falling 92 cents or 0.9 percent to $102.16 per barrel for Brent crude. This decline follows a 4 percent increase in the previous session, as market volatility continues amidst ongoing geopolitical tensions between the United States and Iran.
The price adjustment occurred after Iran signaled an openness to diplomatic efforts aimed at ending the conflict. Despite this development, both nations remain significantly divided on the specific mechanisms and pathways required to achieve a resolution.
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