Oil tumbles nearly 7% as US and Iran seen moving closer to deal
AI Summary
Brent crude oil prices dropped nearly 7% below $97 a barrel as talks between the US and Iran showed progress toward a potential deal. The market responded with a significant price decline amid optimistic diplomatic developments.
Brent crude dropped below US$97 a barrel after both sides said talks had made progress.
Politics Markets Deals Commodities Energy Brent crude oil prices US-Iran talks energy market diplomacy oil deal