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Brent Crude Drops Below $88 On US-Iran Talks Hopes

Oil prices continued falling as Brent dropped below $88 and WTI traded near $82 today amid hopes of renewed US-Iran diplomacy. The decline followed Brent's 8.7% Monday slump as geopolitical risks eased. Improved supply prospects, including Kazakhstan's export terminal restart, further pressured prices despite cautious market sentiment over Hormuz shipping.