Oil prices fall after progress in talks on Iran's nuclear program
Oil prices declined following an announcement by Qatar and Pakistan about progress in negotiations concerning Iran's nuclear program and the Strait of Hormuz. Brent crude fell less than one percent while WTI remained stable.
/nginx/o/2025/05/03/16818268t1hd41c.jpg)
Market sentiment improved after Qatar and Pakistan announced encouraging progress in talks aimed at resolving issues related to Iran's nuclear program and the security of the Strait of Hormuz. In a joint statement, the two countries said they have established a mechanism for further technical negotiations designed to prevent incidents and misunderstandings in this strategically important waterway.
In afternoon trading in Asia, Brent crude oil prices fell by less than one percent, while West Texas Intermediate prices remained unchanged. Currently, oil prices are just below $80 per barrel.
For comparison, before February 28, when the United States and Israel launched an attack on Iran, which responded with strikes elsewhere in the region, oil prices were around $70 per barrel.
