Oil prices fall to four-month low after US-Iran talks

Oil prices fell to their lowest in four months after the US and Iran held indirect talks in Qatar.

Reuters writes about this.

Brent crude futures fell to $70.80 per barrel, while US WTI fell to $67.74.

At the same time, according to Reuters sources, OPEC+ countries may agree to increase oil production by approximately 188 000 barrels per day in August.

Indirect talks between the US and Iran have concluded in the Qatari capital of Doha. They discussed the movement through the Strait of Hormuz and the unfreezing of Iranian funds. Donald Trump said that there was progress on the issue of Iranʼs nuclear program. At the same time, sources said that the nuclear program was not discussed at the talks.

• On June 22, after talks in Switzerland, Iran and the United States agreed on a roadmap that should lead to a final deal within 60 days. On the same day, the United States temporarily lifted sanctions on the production, supply, and sale of Iranian oil. In response, Iran opened the Strait of Hormuz.
• The sides exchanged new strikes on June 26. After that, on June 29, Iran and the United States agreed to stop mutual strikes and meet for talks in Qatar.

For more news and in-depth stories from Ukraine, please follow us on X.