ISLAMABAD: The global oil market experienced a price drop right before the planned negotiations between Iran and the United States.
Brent crude oil price decreased by $1.59 per barrel in international markets, which brought the new price to $67.87 per barrel. The US crude oil price dropped by $1.51 per barrel, resulting in a new price of $63.63 per barrel.
The global benchmarks showed price losses that exceeded 3% at various times during the trading session.
US-Iran nuclear talks begin today in Muscat, aiming to bridge key differences
Meanwhile, negotiations between the United States and Iran are scheduled to take place today in Muscat, Oman, as both sides seek to advance discussions on Iran’s nuclear program.
According to reports circulating in the Arab media, the US and Iran delegations have headed to Oman to attend the negotiations. The US delegation includes the Middle East’s special envoy Steve Witkoff and Jared Kushner, the former President Trump’s son-in-law, among others.
The Iranian Foreign Ministry confirmed through its spokesperson Ismail Baqai, that Foreign Minister Abbas Araghchi will arrive in Muscat to attend the talks. Iran intends to negotiate with complete authority in order to establish a fair agreement that both parties will find acceptable and that dignifies their rights on nuclear matters.
The US-Iran nuclear negotiations, which were originally planned to occur last Friday in Turkey now face a new schedule. The Iranian government requested that the Istanbul meeting be changed to Muscat. The Iranian government requested that its regional partners be excluded during the negotiations, while the two would discuss only nuclear-related issues. The status of these requests remains unknown, as there has been no official announcement regarding the acceptance of these requests.
ALSO READ: Trump hopes for positive outcome in Iran negotiations, threatens tough action if talks fail
