TOKYO – Oil prices fell 3% on Monday as U.S. President Donald Trump said over the weekend Iran was “seriously talking” with Washington, signalling de-escalation with an OPEC member after risks of a military strike drove prices to multi-month highs.<\/p>\n\n\n\n
Brent crude futures were down $2, or 2.9%, to $67.28 per barrel at 0100 GMT. U.S. West Texas Intermediate crude also fell $2, or 3.1%, to $63.17 per barrel.<\/p>\n\n\n\n
Both contracts dropped sharply from the previous sessions, when Brent touched a six-month high and WTI was hovering near its highest since late September on mounting tensionsbetween the United States and Iran.<\/p>\n\n\n\n
Trump repeatedly threatened Iran with intervention if it did not agree to a nuclear deal or failed to stop killing protesters.<\/p>\n\n\n\n
On Saturday Trump told reporters Iran was “seriously talking” with Washington, hours after Tehran’s top security official Ali Larijani said on X that arrangements for negotiations were underway.<\/p>\n\n\n\n
“I hope they negotiate something acceptable,” Trump said. “You could make a negotiated deal that would be satisfactory with no nuclear weapons.<\/p>\n\n\n\n
Trump’s comments, along with reports that the naval forces of Iran’s Revolutionary Guards have no plans to carry out live-fire exercises in the Strait of Hormuz, are signs of de-escalation, said IG market analyst Tony Sycamore<\/p>\n\n\n\n
“The crude oil market is interpreting this as an encouraging step back from confrontation, easing the geopolitical risk premium built into the price during last week’s rally and prompting a bout of profit-taking,” he said<\/p>\n","protected":false},"excerpt":{"rendered":"
TOKYO – Oil prices fell 3% on Monday as U.S. President Donald Trump said over the weekend Iran was “seriously talking” with Washington, signalling de-escalation with an OPEC member after risks of a military strike drove prices to multi-month highs. Brent crude futures were down $2, or 2.9%, to $67.28 per barrel at 0100 GMT. […]<\/p>\n","protected":false},"author":1,"featured_media":1347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","footnotes":""},"categories":[7,1],"tags":[],"class_list":["post-1346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured"],"_links":{"self":[{"href":"https:\/\/dailysadaepakistan.com\/English\/index.php?rest_route=\/wp\/v2\/posts\/1346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailysadaepakistan.com\/English\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailysadaepakistan.com\/English\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailysadaepakistan.com\/English\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailysadaepakistan.com\/English\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1346"}],"version-history":[{"count":1,"href":"https:\/\/dailysadaepakistan.com\/English\/index.php?rest_route=\/wp\/v2\/posts\/1346\/revisions"}],"predecessor-version":[{"id":1348,"href":"https:\/\/dailysadaepakistan.com\/English\/index.php?rest_route=\/wp\/v2\/posts\/1346\/revisions\/1348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailysadaepakistan.com\/English\/index.php?rest_route=\/wp\/v2\/media\/1347"}],"wp:attachment":[{"href":"https:\/\/dailysadaepakistan.com\/English\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailysadaepakistan.com\/English\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailysadaepakistan.com\/English\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}