International oil rates dipped following news that discussions between Iran and Oman are advancing, sparking hopes for a potential diplomatic breakthrough between the US and Iran. Brent crude slid to $79.08 per barrel, while WTI decreased to $74.69. Market participants are watching closely to see if a deal might lead to the reopening of the Strait of Hormuz, which would ease concerns regarding worldwide energy supply stability.

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6 hours ago