Oil Set for Longest Losing Streak Since August 2025
AI Summary
Oil prices declined for the sixth consecutive day amid renewed optimism over potential US-Iran talks, reducing concerns about Middle East supply disruptions. Brent Crude and WTI crude prices both fell below key thresholds, signaling bearish sentiment in the oil market.
Oil prices fell in Asian trading on Wednesday and were on course for a sixth consecutive day of declines as the first U.S.-Iran talks in months revived hopes of a deal and eased concerns about oil supply from the Middle East. In Wednesday trade in Asia, Brent Crude prices dipped by about 1% to $98.30, after falling on Tuesday below the $100 a barrel mark. The U.S. benchmark, WTI Crude, fell by 1.4% to below the $ 90-a-barrel threshold and traded at $89.49. Oil prices extended the losses that began late last week and were on track…