Oil falls after US, Iran talks conclude in Doha
Oil prices dropped in early trade on Thursday after Qatar said Iran and the US had made “positive progress” in indirect talks that concluded on Wednesday, focused on the Strait of Hormuz, which handled one-fifth of global oil supply before the war. Brent futures were down 73 cents, or 1.02%, to $70.84 a barrel by 0102 GMT, while US West Texas Intermediate crude fell 83 cents, or 1.21%, to $67.75 a barrel. In the previous session, both benchmarks fell more than 1% to their lowest levels in four months.