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On November 9, oil prices stabilized after a significant weekly drop, influenced by President Trump's comments on Iran. Brent crude reached $98.35 per barrel, while WTI rose to $91.30. This stabilization follows a 16% decline in Brent prices last week, the largest since the pandemic began. Trump's recent statements suggest a reduced likelihood of military action against Iran, which investors view as a potential easing of tensions. However, analysts caution that negotiations have yet to yield a formal agreement. Regional tensions persist, highlighted by recent attacks in the Gulf, and the global oil supply continues to exceed demand, contributing to market fluctuations.
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