Oil prices fall nearly 5.5% over four days as easing supply concerns weigh on markets amid US-Iran peace talks progress.
West Texas Intermediate crude fell below $91.00 per barrel, extending its decline to a fourth consecutive session and trading near $90.80 in Asian hours. The drop reflects easing supply fears as optimism grows over potential US-Iran diplomatic progress.
Prices have retreated sharply from recent highs, with the 5.5% decline over four days marking the steepest losing streak in months. Prior sessions saw WTI stabilize above $95, driven by geopolitical tensions and supply constraints.
No immediate market reaction data was reported, but the shift in sentiment underscores the sensitivity of oil prices to geopolitical developments.