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Global oil prices drop below $106 a barrel on hopes that U.S.-Iran war will soon end

Oil futures were extending their declines on Wednesday following reports that a new round of negotiations between the U.S. and Iran will be held in Pakistan, raising hopes for a resolution to the months-long stalemate in the Middle East.

This article was originally published by MarketWatch and is republished here under license.

Oil futures were extending their declines on Wednesday following reports that a new round of negotiations between the U.S. and Iran will be held in Pakistan, raising hopes for a resolution to the months-long stalemate in the Middle East.

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