Oil prices fall in longest losing streak in a year on hopes of progress in US-Iran talks – business live
Source: The Guardian ·
Oil prices decline for a sixth session, as Saudi Arabia reportedly restarts its east-west pipelineGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Oil prices have fallen for a sixth session, dropping further below $100 a barrel on reports of increased supply from the Middle East, and amid hopes of progress in talks between the US and…
From the source
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Oil prices have fallen for a sixth session, dropping further below $100 a barrel on reports of increased supply from the Middle East, and amid hopes of progress in talks between the US and Iran. Several Asian stock markets have risen for a sixth session with the exception of Chinese indices, riding high on the artificial intelligence wave. Brent crude is down about $1 at $98.32 a barrel, after closing below $100 a barrel yesterday for the first time in more than two weeks. If the downward move is sustained over the day, the six-day declines would be the longest losing run for oil since August 2025, according to Bloomberg. Reuters reported, citing sources, that Saudi Arabia has restarted operations at its east-west pipeline and may have already resumed exports from the Red Sea port of Yanbu. Donald Trump talked of progress in talks with Iran in New York, but also threatened to…