US-Iran Talks Send Oil Prices Plummeting Amid Houthi Attack Concerns

Oil prices declined on Friday as markets assessed the possibility of a ceasefire between the United States and Iran.

The US-Iran negotiations in New York had explored a phased approach to ending the conflict, including the reopening of the Strait of Hormuz by Tehran and the lifting of Washington's economic blockade of Iran.

Iranian President Masoud Pezeshkian stated that the decision on when the war would end remained in the hands of the United States.

The Houthi attacks on Saudi Arabia also raised concerns about potential supply disruptions from a key Middle Eastern producer, further contributing to the decline in oil prices.