Oil prices edge down amid hopes for U.S.-Iran talks progress

AI Summary

Oil prices fell moderately as hopes for progress in U.S.-Iran talks influenced market sentiment. Brent crude and U.S. West Texas Intermediate crude prices each declined by approximately 0.7%, following two days of technical discussions in Doha that ended without a decisive breakthrough toward a lasting agreement.

Brent crude futures, the global oil benchmark. declined 0.7% to $71.10 a barrel and U.S. West Texas Intermediate crude futures dipped 0.7% to $68.12 a barrel. Markets also digested the outcome of indirect U.S.-Iran talks in Doha, where negotiators concluded two days of technical discussions without a breakthrough toward a lasting peace agreement, although Qatar ...