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1/24, 4:55 PM (Source: TeleTrader)
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Oil slips 2% with Iran-US ties in focus

Prices of oil futures declined by over 2% on Monday, after Iran's Foreign Minister Hossein Amirabdollahian stated that the country would be open for direct negotiations with the United States. The US has previously imposed numerous sanctions against Tehran, including the ones on the country's oil exports.

The sentiment was seemingly boosted by a somewhat firmer US dollar.

West Texas Intermediate for March delivery dropped 2.02% at 10:44 am ET, selling for $83.42 per barrel, while Brent for settlements in the same month lost 1.7% a minute later, going for $86.4 per barrel.

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