Latest news and articles about West Texas Intermediate from NEX English
US crude oil prices have dropped to $88.68 per barrel, while Brent crude fell below $95, fueled by hopes for reduced tensions between the US and Iran. This price decline follows reports of improving diplomatic relations between the two nations.
Oil prices fell by more than 5% after U.S. President Donald Trump announced that Washington and Tehran are currently in negotiations, despite Iran denying any direct talks with the United States. Following Trump's statements, Brent crude futures dropped by 6% to $98.31 per barrel, while West Texas Intermediate futures fell by 5% to $87.65 per barrel.
Oil prices have seen a significant increase as trading began, with Brent crude surpassing $115 per barrel and West Texas Intermediate jumping above $100. This rise comes amid ongoing conflicts in the Middle East affecting oil supplies.