Oil Prices Drop Over $1 Per Barrel as Iran Negotiations Take Center Stage

Deep News02-02

Oil prices fell by more than $1 per barrel on Monday, following weekend comments from U.S. President Donald Trump indicating that Iran was engaged in "serious dialogue" with Washington. Brent crude futures declined by $1.8 per barrel, a drop of 2.7%, to settle at $67.48 per barrel. U.S. West Texas Intermediate crude dropped by $1.8 per barrel, falling 2.8% to $63.41 per barrel. President Trump has repeatedly threatened military intervention if Iran refuses a nuclear deal; on Saturday, he told reporters that "substantive talks" were underway with Iran, coming just hours after Iran's top security official, Larijani, stated on platform X that preparations for negotiations had commenced.

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