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Brent crude fell 2.8% and WTI crude fell 1.8% on reports from Al-Araby Al-Jadeed that progress has been made on a US-Iran agreement.
Energy prices fell sharply, with Brent crude dropping to $101.80, WTI crude to $94.73, and TTF natural gas down 6.7% to €88.49/MWh. Reports suggest progress between the US and Iran on nuclear concessions and a frozen funds agreement, but the news remains unconfirmed, and the media outlet has previously reported on unfulfilled progress.
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Next: According to Kpler data, global crude refinery throughput plummeted by 4.8 million barrels per day (6%) in the second quarter due to the Middle East conflict at the end of February 2026, before rebounding by 1.8 million barrels per day in the third quarter, mainly as refineries adapted to new trade flows.
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