Oil prices today: Brent crude edges lower as Iran keeps door open to diplomacy
Oil prices dipped slightly as investors evaluated potential diplomatic openings between the U.S. and Iran, alongside Saudi Arabia's restoration of crude supplies. Meanwhile, traders monitored possible U.S. diesel export restrictions.
Why it matters
Fluctuations in crude oil prices directly impact global energy markets, inflation rates, and geopolitical stability, particularly in the context of ongoing Middle East conflicts.
Oil prices edged lower on Thursday after rising about 4% in the previous session, as investors assessed signs that Iran remained open to diplomacy to end its war with the US, although the two sides remain far apart on the terms of a possible agreement.At 7:30 am IST, WTI crude was trading at $91.87 per barrel, down 0.32%, while Brent crude was at $102.53 per barrel, lower by 0.54%.Earlier, Brent crude futures fell 0.9%, to $102.13 a barrel, while West Texas Intermediate futures eased 0.7%, to $91.56.Oil prices had slipped below $100 a barrel on Wednesday after Saudi Arabia began restoring crude supplies through a key pipeline to the Red Sea.
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