Oil prices fall as Qatar-mediated US-Iran talks raise hopes
Oil prices fell on optimism that Qatar-mediated talks could ease U. S. –Iran tensions, with Brent crude dropping to around $109 a barrel and U. S. WTI to about $100, according to OilPrice. com. Earlier, oil flows from the Persian Gulf had recovered to near pre-conflict levels, but rising tanker attacks and limited carrier capacity kept futures elevated, OilPrice. com reported.
Brent had risen above $117 as charter and insurance costs for tankers through the Strait of Hormuz spiked and President Donald Trump's rhetoric heightened market anxiety, The Age said. Analysts cited ongoing war risk, dwindling inventories and high freight costs, Al Jazeera noted. Washington signaled preparation for a limited military operation against Iran after widespread Iranian and Houthi attacks damaged regional energy infrastructure, BigGo Finance reported. Prices remained above $116, driven by geopolitical risks and expectations of further increases ahead of the U. S. midterm elections, OilPrice. com added.
