Iran-US Talks Spark Oil Price Slump
The prospect of renewed talks between the US and Iran has sent oil prices tumbling by more than 5% in Asian markets.
In an interview with Austria's state broadcaster, Esmaeil Baghaei, spokesperson for the Iranian regime's Ministry of Foreign Affairs, confirmed that indirect contacts between Tehran and Washington are ongoing.
Baghaei stated that mediators including Pakistan and Qatar are facilitating the exchange of messages between the two sides, but emphasized that an appropriate framework is essential before any talks can begin.
The US has been accused by Baghaei of undermining such a framework, which would be necessary for meaningful negotiations to take place.
Oil prices fell sharply in Monday morning trading, with Brent crude dropping 5.58% to $91.38 per barrel and US West Texas Intermediate crude declining by 5.46% to $84.43 per barrel.