Oil hits over 1-week low on hopes of boost to diplomacy in Iran war
- Oil prices fell to more than a one-week low as traders hoped for renewed diplomatic talks between the United States and Iran.
- Brent crude fell to $101.71 a barrel, while U.S. West Texas Intermediate crude dropped to $98.15.
- Saudi Arabia’s East-West pipeline was damaged and could partly resume exports through a route bypassing the Strait of Hormuz.
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374 Articles
Oil falls for sixth day as US-Iran talks ease supply fears
Oil prices fell in Asian trading on Wednesday, extending losses to a sixth consecutive session as renewed US-Iran talks raised read more Oil falls for sixth straight day as US-Iran talks ease supply fears
Special envoy Steve Witkoff confirmed in X the encounters: "Today, outside the UN General Assembly, we had extensive discussions with the Iranian delegation through the mediators, who moved between the two sides throughout the day."
Oil prices continue their decline. Investors are hoping for progress in US-Iran talks and an increase in Saudi oil exports via the East-West pipeline.
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