Goa, May 20 -- Global oil prices edged lower on Wednesday after U.S. President Donald Trump once again claimed that the ongoing conflict with Iran would end "very quickly," offering some relief to energy markets amid rising geopolitical tensions.

Despite the decline, investors remain cautious as uncertainty continues to surround the outcome of peace negotiations and the ongoing disruption of oil supplies from the Middle East.

Brent crude futures slipped slightly, while U.S. West Texas Intermediate (WTI) crude also recorded modest losses after recent gains triggered by fears of prolonged instability in the region. Analysts said markets are reacting to shifting signals from Washington regarding potential diplomatic progress with Iran.

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