July 28: Oil prices dropped 5 per cent on Tuesday to a two-week low, on cautious hopes for a resolution to the Iran war as traders assessed developments in the Middle East. Brent futures fell $4. 61, or 5. 2 per cent, to $83. 75 a barrel at 12: 01 p. m. EDT (1601 GMT). U. S. West Texas Intermediate (WTI) crude fell
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