WTI Falls Below $70 on US-Iran Talks and Strike Pause
WTI crude oil dropped below $70 during early Asian trading after reports that the US and Iran agreed to pause attacks and will hold talks in Qatar.
USOIL
West Texas Intermediate (WTI) crude oil fell below the $70 mark, trading around $69.60 in early Asian hours on Monday. The decline follows reports that the United States and Iran have agreed to halt attacks and plan to resume negotiations in Qatar.
Oil prices reacted negatively to the prospect of reduced geopolitical tensions and potential supply normalization. No further details were provided on the timing or agenda of the talks.
Source: FXStreet Forex News