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Oil drops as US-Iran talks could resume next week

Mediators are expected to discuss an amended version of Iran's seven-day proposal aimed at reopening the Strait of Hormuz.

Reported · Written up by our desk · Energy

Oil prices fell after reports that diplomatic talks between the United States and Iran could resume as early as Monday or Tuesday, according to Forexlive.

The outlet said mediators are expected to hold separate discussions with both sides while staying in the US, as Iranian Foreign Minister Araghchi and Qatari mediators remain there for the talks.

According to Forexlive, the talks are reportedly centered on an amended version of Iran's seven-day proposal, which is intended to reopen the Strait of Hormuz.

Forexlive added that renewed diplomatic efforts could help ease oil and geopolitical risks, while a breakdown would leave markets exposed to continued supply disruptions and renewed tensions.

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