US-Iran talks: Crude oil prices drop sharply in global market
Crude oil prices have fallen significantly in the global market due to recent talks between the US and Iran and news of an agreement on a 60-day memorandum of understanding.
According to media reports, the price of Brent crude oil has fallen to $92.26 per barrel while the price of WTI crude has reached $88.9 per barrel, raising hopes of stability in the global energy market.
In addition, the price of Merbin oil has also dropped to $93.3 per barrel. Experts say that the news of the opening of the Strait of Hormuz and the extension of the ceasefire have reduced the pressure on prices.
It should be noted that US and Iranian negotiators have agreed on a 60-day MOU to resolve the nuclear program and other disputes, but final approval from President Donald Trump is still awaited.
Read also:Crude oil prices fall amid ongoing US-Iran agreement talks
