Oil prices fell on Wednesday as optimism over U.S.-Iran talks eased supply concerns after U.S. President Donald Trump said meetings in Qatar had gone well.Brent futures were down 95 cents, or 1.30%,
Oil prices fell on Wednesday as optimism over U.S.-Iran talks eased supply concerns after U.S. President Donald Trump said meetings in Qatar had gone well.
Brent futures were down 95 cents, or 1.30%, to $72.00 a barrel at 0119 GMT. U.S. West Texas Intermediate crude was down 54 cents, or 0.78%, at $68.96 a barrel — its lowest since February 27.
"The negotiations that are currently taking place in Qatar are perceived as being positive (and) that has allowed prices to drift further," Saxo Bank analyst Ole Hansen said.
"There is a chance that we could see even lower prices."
Trump said on Wednesday the U.S. was getting along very well with Iran and that recent meetings in Qatar went well.
The U.S. and Iran held technical talks in Doha as they seek to agree on the flow of shipping through the Strait of Hormuz and secure a lasting ceasefire, a source with direct knowledge of the talks and an Iranian official said.
Brent fell by around $45 a barrel in the second quarter of this year, its largest quarterly drop since the global financial crisis in 2008. U.S. crude futures, meanwhile, fell by around $31, their largest quarterly decline
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