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Al Arabiya

A drone view of drilling rigs in Midland, Texas, U.S. June 11, 2025. REUTERS/Eli Hartman/File Photo
May 7, 2026

Oil falls below $100 a barrel on Middle East peace hopes

Oil prices fell below $100 a barrel amid renewed hopes for a U.S.-Iran peace deal and reopening of the Strait of Hormuz, easing Middle East tensions.

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