Oil prices fall to one-week low as hopes of US-Iran breakthrough ease supply concerns
Oil prices extended losses on Tuesday, dropping more than $1 per barrel as hopes of a diplomatic breakthrough between the United States and Iran eased concerns over disruptions to global energy supplies.
Brent crude futures fell $1.47, or 1.66%, to $86.89 a barrel by 0326 GMT, while US West Texas Intermediate (WTI) crude declined $1.45, or 1.76%, to $81.16. Both benchmarks touched their lowest levels since July 20, after tumbling about 8% in the previous session.
Brent crude futures fell $1.47, or 1.66%, to $86.89 a barrel by 0326 GMT, while US West Texas Intermediate (WTI) crude declined $1.45, or 1.76%, to $81.16. Both benchmarks touched their lowest levels since July 20, after tumbling about 8% in the previous session.
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