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Oil prices plunged on Tuesday after US president Donald Trump predicted the war in the Middle East could be over “soon”, reversing a surge that had pushed Brent crude to its highest level in more than three years.
Brent crude fell as much as 10 per cent to below $90 (£67.50) a barrel in early Asian trading on Tuesday, after hitting a session high of $119.50 on Monday – its highest since mid-2022.
US West Texas Intermediate dropped to
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