Oil prices drop as U.S. and Iran pursue diplomatic talks
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International benchmark Brent crude for January delivery dropped 4.61% to $108.20 per barrel and U.S. West Texas Intermediate futures for December fell 4.44% to $99.50 per barrel on Monday amid reports that the U.S. and Iran are seeking diplomatic options. U.S. Secretary of State Marco Rubio stated that President Donald Trump prefers a peaceful resolution, while Qatari-mediated talks continue.
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