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Story summary
- Iran's foreign ministry said it is open to U.S. negotiations on national interests, shifting oil markets.
- Oil prices fell on Monday as Brent crude futures dropped 14 cents to $87.96 after a $91.42 peak, the highest since June 11, while West Texas Intermediate crude fell 50 cents to $81.99 after a peak highest since June 12.
- The earlier surge reflected worries that tensions could disrupt oil flow through the Strait of Hormuz.
