Oil prices dip on Iran peace hopes, but Saudi attacks keep Brent near six-month highs

Oil prices have seen a decline amid diplomatic dialogues aimed at easing Middle Eastern tensions. A meeting between Saudi Arabia, Turkey, Pakistan, and Iranian officials focused on achieving peace and stability. However, worries linger over the safety of shipping in the Strait of Hormuz, due to escalating attacks on commercial vessels. Additionally, Russian refiners are set to ramp up diesel production thanks to a new supply deal with the U.S.