Commodities
Iran-US Talks Send Oil Prices into Decline
Oil prices fell more than 1% on Wednesday as talks between Iran and the US continued. The US team met mediators in Doha, but not with Iranian officials directly.
The Brent futures price dropped by $1.14, or 1.6%, to $71.81 a barrel at 0859 GMT, while U.S. West Texas Intermediate crude was down $1.11, or 1.6%, to $68.39 a barrel.
PVM Associates analyst Tamas Varga noted that 'stuttering talks between the US and Iran are raising concerns of fresh supply disruptions.' However, he also stated that investors are confident that issues hindering negotiations will be resolved soon.