WTI slides 6.3% to $97.56 as US-Iran talk hopes rise

Oil prices drop today as Brent loses 6.1 per cent to $106.54 a barrel, while US crude falls 6.3 per cent to $97.56 on US-Iran talk hopes.

Brent North Sea crude fell 6.1 per cent to $106.54 a barrel.

US benchmark West Texas Intermediate fell 6.3 per cent to $97.56 a barrel.

Crude futures were already down about 4 per cent earlier before losses deepened.

The move is linked to hopes of new talks between the United States and Iran aimed at ending the Middle East conflict.

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