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Commodities

Brent Crude Falls as Hopes of Middle East Peace Talks Rise

Guavy AI Editorial Team
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Oil
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Oil prices declined nearly 4% on Friday as optimism over renewed peace talks between the United States and Iran weighed on the market.

The diplomatic push is reportedly being led by China and Pakistan, which are seeking to reopen negotiation channels between the two sides.

Brent crude climbed above the $100-per-barrel mark in Thursday's trading before reversing course on Friday following reports that Pakistan and Iran were exploring the possibility of resuming negotiations with the United States with China's backing.

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