Crude oil futures experienced a sharp decline following reports that Washington and Tehran are pursuing a second round of peace talks. The move comes as a current ceasefire nears its expiration date.
- Crude oil futures fell sharply on Tuesday
- U.S. and Iran are arranging a second round of peace talks
- Current ceasefire expires on April 7
- Naval blockade is increasing pressure on Iran to negotiate
- Market is pricing out geopolitical risk premiums
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