Crude prices fall to $95.46 after Qatar dispatches a team to Iran amid stalled ceasefire talks, easing supply disruption fears.
Qatar has sent a negotiating team to Tehran in an effort to revive ceasefire talks, prompting a slight pullback in oil prices. Brent crude dropped to a session low of $95.46 before paring losses to trade at $96.10.
The move follows weeks of stalled negotiations and heightened geopolitical tensions in the Middle East. Analysts had priced in a risk premium due to potential supply disruptions, but progress in talks has tempered those concerns.
Markets reacted cautiously, with oil futures retreating from recent highs as traders await further developments.