International oil prices fell sharply on Thursday.
On his Arab tour, U.S. President Donald Trump continued to apply pressure for a nuclear negotiation agreement on Iran, presenting a mix of incentives and threats, raising expectations of a potential agreement.
Trump declared that serious negotiations were underway with Iran, stating they are very close to reaching an agreement.
Iran also responded positively.
A senior advisor to Iran’s Supreme Leader announced that they are ready to sign a nuclear agreement if economic sanctions are lifted.
With easing concerns that Iranian oil would be removed from the market, international oil prices fell for the second consecutive day.
Brent crude, the international oil benchmark, closed at 64.53 USD per barrel for July delivery, plummeting 1.56 USD (2.36%) from the previous session.
West Texas Intermediate (WTI), the U.S. oil benchmark, dropped 1.53 USD (2.42%) to 61.62 USD per barrel for June delivery.
