Crude oil futures prices drop 5 pct on U.S.-Iran deal prospect
▸ Part of: US and Iran nearing potential deal to end war, reopen Strait of Hormuz
Crude oil futures prices dropped around 5 percent as trading started for the new week due to reported progress in peace talks between the United States and Iran. West Texas Intermediate crude for July delivery dropped as much as 5.35 U.S. dollars, or 5.53 percent, to 91.25 dollars per barrel at one point. Brent crude for July delivery sank 5.57 dollars, or 5.38 percent, to 97.97 dollars a barrel at the low point. U.S. President Donald Trump announced Saturday that a peace agreement with Iran has been “largely negotiated,” subject to finalization between the United States, Iran and other relevant countries in the Middle East.
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