Crude oil futures settle down amid signs of progress in US-Iran nuclear talks
The two sides planned to resume negotiations ‘soon’ after consultation in the respective capitals
Crude oil futures settled down on Thursday after Oman's Foreign Minister Badr Albusaidi said that US and Iranian officials have made ‘significant progress’ in high-stakes nuclear talks in Geneva. Albusaidi said the two sides planned to resume negotiations ‘soon’ after consultation in the respective capitals and revealed discussions on a technical level will take place next week in Vienna. The comments from Albusaidi who was mediating the discussions between U.S. envoys Steve Witkoff and Jared Kushner and Iran's foreign minister Abbas Araghchi, have helped ease fears of conflict in the region.
Benchmark crude oil futures for April delivery fell $0.21 or 0.32% to settle at $65.21 a barrel on the New York Mercantile Exchange. Brent crude for April delivery slipped $0.01 or 0.14% to settle at $70.75 a barrel on London's Intercontinental Exchange.
