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Market Impact: 0.58
Crude Prices Slip in Hopes of Diplomacy Reopening the Strait of Hormuz
Source: Nasdaq
Energy Markets & PricesGeopolitics & WarCommodity FuturesFutures & Options
November WTI crude futures fell $0.58, or 0.61%, while November RBOB gasoline dropped $0.0826, or 2.48%. Prices declined on hopes that US-Iran negotiations could produce a deal to reopen the Strait of Hormuz, easing a key geopolitical supply-risk premium for oil and refined products.
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