Oil prices fall on talks to ease Middle East supply disruptions

channelnewsasia.com

Oil prices fell Thursday, extending multi-day losing streaks, falling for a fourth day for Brent, down 60 cents to $87.24 a barrel, on expectations talks may ease Middle East supply disruptions. Iran and Oman are finalizing an agreement to control the Strait of Hormuz, which could reopen the key waterway. Oil flows through the strait have dropped to about one-quarter of pre-war levels since Iran shut it in response to the U.S.-Israeli war. Qatar's prime minister will visit Iran Thursday to relaunch diplomatic talks. However, countries remain far apart on demands, and Iran says the strait won't open unless the U.S. meets its conditions.


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Oil prices fall on talks to ease Middle East supply disruptions | News Minimalist