Global oil prices have fallen to their lowest level in four months following positive remarks from U.S. officials about relations between Washington and Tehran.
Al Jazeera reported on that Brent crude dropped 1.89% to $71.57 per barrel, while U.S. West Texas Intermediate (WTI) crude fell 1.32% to $68.58 per barrel.
According to the report, both benchmark crude prices closed at their lowest levels since March.
The decline followed optimistic comments from U.S. President Donald Trump and Vice President J.D. Vance regarding ongoing talks between Washington and Tehran.
Trump said the negotiations were progressing “very well,” while Vance described them as going “extremely well.”
Global oil markets are highly sensitive to political and diplomatic developments between the United States and Iran, as signs of easing tensions can influence expectations for oil supply and, consequently, global prices.
