West Texas Intermediate crude fell $2.5 from session highs as negotiations between Washington and Tehran advanced, pressuring prices.
West Texas Intermediate crude oil dropped to around $75.00 after reversing earlier gains, pressured by reports of progress in US-Iran nuclear talks. The benchmark fell approximately $2.5 from its session peak, extending a bearish trend as supply concerns eased.
Prices had previously stabilized above $75, but renewed optimism over a potential deal between the US and Iran weighed on the market. Analysts noted the $75 level as a key support threshold, with further declines possible if negotiations continue to advance.
No immediate market reaction data was provided, though the decline reflects broader sentiment shifts tied to geopolitical developments.