Qatar’s Foreign Ministry spokesperson, Majed Al Ansari, confirms during the European trading session on Tuesday that efforts are ongoing with the United States (US) and Iran to seek a diplomatic resolution.
Ansari added, “What is important right now is getting back to the negotiation talks.” Qatar’s Ansari also confirmed that mediators, including Qatar, Pakistan, and Oman, are coordinating closely to facilitate negotiations and exchange drafts between both sides
Market reaction A sharp selling pressure is seen in oil prices after Qatar’s confirmation of ongoing efforts to seek a US-Iran diplomatic solution. As of writing, the WTI Oil price trades 0.4% lower at around $78.50. WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets.
The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined.