US-Iran Talks Extended Amid Oil Price Crash
The US and Iran have agreed to extend their 60-day talks deadline, sending international oil prices lower.
According to a report from BlockBeats, citing Saudi media outlet Al Hadath, an agreement has been reached to extend the negotiating window between the two countries.
The original 60-day period was set to expire soon, but Iran had argued that it had lost its meaning due to the US violating a memorandum of understanding signed on June 18. Tehran said at the time that the 60 days were meant to discuss sanctions relief and the nuclear issue, not a final deadline for reaching an agreement.
Markets reacted immediately to the news, with West Texas Intermediate (WTI) and Brent crude each dropping by more than $1 a barrel during the session. In contrast, futures tied to the three main US stock indexes all rose.