Oil prices deepened today (Thursday) as markets awaited talks scheduled to be held between the US and Iran in the Sultanate of Oman tomorrow (Friday) to reach an agreement to end tensions between the two countries that have recently escalated.
Brent crude oil futures for April delivery fell 2.55% ($1.77) to $67.69 per barrel, after falling to $67.52 the previous day.
Meanwhile, the future price of Nymex crude oil for March delivery fell 2.60% ($1.68) to $63.47 after hitting $63.23 in early trading.
After reports suggested talks between Washington and Tehran might break down, the two countries confirmed their intention to move forward with negotiations and discuss Iran’s nuclear program and a number of other controversial issues between the two countries, reducing the risk premium.
Investors are watching these “fragile” negotiations closely amid fears the two sides will not reach a deal and US President Donald Trump’s determination to follow through on his threat to attack Iran.
Oil prices deepened today (Thursday) as markets awaited talks between the US and Iran, scheduled for tomorrow (Friday) in Oman, to reach an agreement to end the recent escalation of tensions between the two countries.
Brent crude oil futures for April delivery fell 2.55%, or $1.77, to $67.69 per barrel, after initially falling to $67.52.
Meanwhile, WTI crude oil futures for March delivery fell 2.60%, or $1.68, to $63.47 after hitting $63.23 in early trading.
Following reports that talks between the US and Iranian governments may break down, both countries confirmed their intention to proceed with negotiations to discuss Iran’s nuclear program and several other points of contention between the two countries, reducing the risk premium.
Investors are watching these “fragile” negotiations closely amid concerns that the two sides will not reach a deal and President Donald Trump’s determination to follow through on his threat to attack Iran.
