World oil prices drop 5 percent on hopes over US-Iran talks

AI Summary

Global oil prices have decreased by over five percent, driven by optimism surrounding ongoing talks aimed at resolving the conflict with Iran. The drop reflects market sentiment as investors react to potential outcomes of these discussions.

World oil prices drop 5 percent on hopes over US-Iran talks Global oil prices fell more than five percent on Thursday, amid hopes that ongoing talks would bring an end to the war on Iran. International benchmark, Brent North Sea crude, shed 5.1 percent to $96.06 a barrel. The main US contract, West Texas Intermediate, lost 5.5 percent to $89.87.