Oil Prices Fall 6% Over Renewed Hopes Of US-Iran Peace Talks
The main international contract, Brent North Sea crude, shed 6.1 per cent to $106.54 a barrel
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- Oil prices dropped further amid hopes of US-Iran talks to end Middle East conflict
- Brent North Sea crude fell 6.1 per cent to $106.54 a barrel on Monday
- US West Texas Intermediate crude declined 6.3 per cent to $97.56 a barrel
What happens to oil prices if the talks fail?
Oil prices extended losses Monday on hopes of new talks between the United States and Iran aimed at ending the Middle East conflict.
Crude futures, already down about four per cent earlier on the diplomatic prospects, dropped further as the trading day went on.
The main international contract, Brent North Sea crude, shed 6.1 per cent to $106.54 a barrel, while the US benchmark West Texas Intermediate gave up 6.3 per cent to $97.56.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Got a follow‑up question on this article? Go on
- How could these diplomatic talks affect consumer gas prices?
- What conditions are necessary for oil prices to remain low?
- How are OPEC countries responding to the potential US-Iran agreement?
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Oil Prices, Oil Price Fall, Middle East Conflict