Oil prices fall more than 4% after Trump says Iran talks proceeding in a 'constructive manner'
Oil prices experienced a significant drop of over 4% following President Trump's comments on Iran negotiations. West Texas Intermediate futures decreased nearly 5%, while Brent futures also saw a similar decline. Trump stated that the talks are progressing constructively and emphasized that there is no rush to finalize a deal.
- ▪Crude oil prices fell more than 4% on Sunday.
- ▪West Texas Intermediate futures fell nearly 5% to $92.05 per barrel.
- ▪Brent futures lost almost 5% to $98.88 per barrel.
Opening excerpt (first ~120 words) tap to expand
Crude oil prices fell more than 4% on Sunday, after President Donald Trump indicated that talks with Iran to reopen the Strait of Hormuz are advancing. West Texas Intermediate futures fell nearly 5% to $92.05 per barrel by 6:40 p.m. ET. International benchmark Brent futures also lost almost 5% to $98.88 per barrel."The negotiations are proceeding in an orderly and constructive manner, and I have informed my representatives not to rush into a deal in that time is on our side," Trump said Sunday in a social media post.The U.S. president said Saturday that an agreement with Iran to open Hormuz, among other issues, was largely negotiated and would be announced soon. This is a developing story. Please refresh for updates.
Excerpt limited to ~120 words for fair-use compliance. The full article is at CNBC — Top.
Discussion
0 commentsMore from CNBC — Top
