Global crude markets experienced a significant downturn as investors responded positively to renewed diplomatic efforts between the United States and Iran, alongside increased Saudi Arabian oil exports. Both Brent and West Texas Intermediate benchmarks retreated to their lowest levels in nearly two weeks, signaling growing optimism about potential geopolitical de-escalation. The combined effect of diplomatic progress and expanded supply from major OPEC producers created downward pressure on energy prices, reflecting market sentiment toward reduced geopolitical tensions and improved market fundamentals.

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