Brent crude futures fall on hopes for a US-Iran peace deal
Updated
Updated · Barron's · May 7
Brent crude futures fall on hopes for a US-Iran peace deal
14 articles · Updated · Barron's · May 7
Brent dropped 3.2% to $98.05 and WTI 3.4% to $91.89 early Thursday, after Donald Trump said a deal was possible and Tehran said a proposal was under review.
The Wall Street Journal said Washington and Tehran, working through mediators, were drafting a framework for monthlong discussions, with direct talks potentially resuming as early as next week.
Brent had already settled at its lowest since 21 April on Wednesday, as traders bet continued war was unsustainable, though ING warned markets may be too confident about an agreement.
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