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Qatar says mediators seek US-Iran diplomatic talks

WTI crude was down 0.4% to about $78.50 after the update, adding pressure to oil prices tied to Middle East risk sentiment.

Reported · Written up by our desk · Central Banks

Qatar’s Foreign Ministry spokesperson Majed Al Ansari said efforts are ongoing with the United States and Iran to pursue a diplomatic resolution during the European trading session, and urged a return to negotiation talks.

Ansari also said mediators, including Qatar, Pakistan, and Oman, are coordinating closely to facilitate negotiations and exchange drafts between both sides, according to FXStreet.

The update translated into selling pressure in oil markets, with WTI trading 0.4% lower at around $78.50 at the time of writing.

FXStreet noted that WTI is a major benchmark for crude pricing and that geopolitical tensions can disrupt supply and influence crude prices, which are also affected by the US dollar, OPEC decisions, and weekly inventory reports from the API and EIA.

Latest closeWTI crude $80.00 ▼5.5%

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