Oil prices continued to decline as investors anticipate the results of ongoing negotiations between the United States and Iran. Brent crude fell to $71.57 per barrel while WTI decreased to $68.58, reflecting diminished supply-risk concerns. Historically, progress in talks that reduce geopolitical tensions in the Middle East tends to lower the geopolitical risk premium on oil prices. Key actors such as OPEC Secretary General Mohammad Sanusi Barkindo and Saudi Energy Minister Abdulaziz bin Salman Al Saud may play significant roles in responding to these developments.
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