Oil Prices Fall as Iran Talks Raise Hopes of Easing Disruptions

Oil prices have fallen for the fourth consecutive day as investors weigh the possibility of diplomatic progress in the Middle East against continued disruptions to regional supplies.

Brent crude futures declined by 0.4% to $87.4 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 0.5% to $81.8 a barrel.

The latest decline came as expectations of renewed talks involving Iran raised hopes that disruptions to oil flows through the Strait of Hormuz could eventually ease.

Qatar's prime minister is expected to travel to Iran on Thursday as part of diplomatic efforts aimed at bringing an end to the conflict and easing tensions in the region.