Oil prices fall amid Iran peace talks

The third day of Qatar-mediated talks helped ease concerns over energy supplies in the Middle East. Brent crude futures dropped $3.68 to $109.75 per barrel in early trading, while U.S. West Texas Intermediate (WTI) crude declined $3.43 to $100.69 per barrel. In addition to hopes for a diplomatic resolution, profit-taking following the previous sharp rally contributed to the decline in prices.

Iran's Foreign Ministry reported progress in negotiations with mediators, although tanker attacks in the Strait of Hormuz and ongoing risks to regional energy infrastructure continued to fuel market uncertainty. OPEC+ countries' decision to maintain their December production targets also remained in focus. A sustained decline in energy prices could help ease global inflationary pressures, while investors closely monitor further developments and statements from the diplomatic negotiations.