The price of Brent crude, the global benchmark for oil, fell roughly 6% to about $97 a barrel. That’s down from $104 a barrel at market close on Friday, but still much higher than the $74 a barrel price before the war. CNN reported.
US President Donald Trump said negotiations with Iran were “proceeding nicely,” while demanding that Middle East countries sign the Abraham Accords after a deal is reached. Iran has said a “degree of understanding” has been reached with the US on many issues but an agreement is not imminent.
Iran’s chief negotiator and foreign minister are in Qatar today for talks on efforts to end the war, a source told CNN. Both sides are talking of a “memorandum of understanding” that will create a roadmap for resolving remaining issues, though a deal is still a “work in progress,” US Secretary of State Macro Rubio said.
Oil prices dropped sharply today following talk of a potential peace deal. US markets are closed, but stock markets in Asia and Europe traded higher.
