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Oil prices drop 2% as US-Iran tensions ease

June 06, 2026 / 9:22 PM
Oil prices drop 2% as US-Iran tensions ease
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Sharjah 24 – Reuters: Oil prices fell 2% on Friday as market confidence grew that the likelihood of renewed tensions between the United States and Iran was diminishing. This downward trend extended losses from earlier in the week, reflecting a broader easing of geopolitical risk premiums.

Brent crude futures settled down $1.94, or 2.04%, at $93.09 a barrel, following a 2.84% decline during the previous session. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures dropped $2.50, or 2.69%, to close at $90.54 a barrel, compounding a 3.1% loss suffered on Thursday.

June 06, 2026 / 9:22 PM

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