Oil declines by more than $1 per barrel as discussions regarding Iran take center stage
Oil prices declined by more than $1 per barrel on Monday following U.S. President Donald Trump’s remarks over the weekend that Iran was “seriously talking” with Washington.
Brent crude futures declined by $1.8 per barrel, a decrease of 2.7%, settling at $67.48 per barrel as of 2311 GMT. U.S. West Texas Intermediate crude declined by $1.8 per barrel, a decrease of 2.8%, bringing the price to $63.41 per barrel.
Trump consistently warned Iran of intervention should it refuse to reach a nuclear agreement or continue to harm protesters. On Saturday, Trump informed reporters that Iran was “seriously talking” with Washington, just hours after Tehran’s top security official, Ali Larijani, announced on X that preparations for negotiations were in progress.
