Oil Prices Drop $1 amid US-Iran Nuclear Deal Expectations
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۱۶۳۹۳۵۸
Oil prices declined sharply on Thursday as prospects for a renewed US-Iran nuclear agreement and an unexpected rise in US crude stockpiles raised fears of oversupply.
Brent crude futures dropped $1.49, or 2.3%, to $64.60 per barrel by 0405 GMT.
US West Texas Intermediate (WTI) crude futures fell $1.46, or 2.3%, to $61.69 per barrel.
Market sentiment weakened as investors reacted to reports indicating potential progress in nuclear negotiations between Tehran and Washington, according to Reuters.