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Oil Price Falls on Hopes for Peace Between U.S. and Iran

Hamad Hussain, a senior economist with Capital Economics, a research firm, said Mr. Vance’s words heightened assumptions that a deal could be clinched between the United States and Iran, though “a lot of uncertainty” remains about when the war will end.

“The post showed a recognition that the war and the rise of oil prices hurt Republicans at the polls,” Mr. Hussain said. But, he added, “there’s not been much of an indication of whether the Trump administration is actually going to budge, or if the Iranians are actually going to budge on their demands.”

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