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US West Texas Intermediate crude prices fell on Thursday after the US and Iran agreed to hold talks in Oman on Friday, despite differences about the agenda, amid heightened tensions as the US builds up military forces in the Middle East.
WTI fell 0.7 cents per barrel, or 1%, to $64.5 per barrel at 2347 GMT. Brent crude futures resume trading at 0100 GMT.
Oil prices surged about 3% on Wednesday after a media report suggested the planned talks between the United States and Iran on Friday could collapse.
Iran has aimed to discuss its long-running nuclear dispute with Western countries while the U.S. also wants to include Iran's ballistic missiles, its support for armed proxy groups around the Middle East and its treatment of its own people.
Attempts to de-escalate US-Iran tensions are in focus as U.S. President Donald Trump has threatened to strike Iran, an OPEC member, potentially risking a wider confrontation in the oil-rich region.
Fears of the bilateral talks' collapse have moderated, leading to easing oil prices, Tony Sycamore, market analyst with IG, said in a note.
In additional pressure on oil prices, the dollar index , which measures the greenback against a basket of currencies including the yen and the euro, rose 0.25% to 97.65. A stronger dollar hurts demand for dollar-denominated crude from foreign buyers.
Also Read: Asian equities decline post tech selloff, gold rises
WTI fell 0.7 cents per barrel, or 1%, to $64.5 per barrel at 2347 GMT. Brent crude futures resume trading at 0100 GMT.
Oil prices surged about 3% on Wednesday after a media report suggested the planned talks between the United States and Iran on Friday could collapse.
Iran has aimed to discuss its long-running nuclear dispute with Western countries while the U.S. also wants to include Iran's ballistic missiles, its support for armed proxy groups around the Middle East and its treatment of its own people.
Attempts to de-escalate US-Iran tensions are in focus as U.S. President Donald Trump has threatened to strike Iran, an OPEC member, potentially risking a wider confrontation in the oil-rich region.
Fears of the bilateral talks' collapse have moderated, leading to easing oil prices, Tony Sycamore, market analyst with IG, said in a note.
In additional pressure on oil prices, the dollar index , which measures the greenback against a basket of currencies including the yen and the euro, rose 0.25% to 97.65. A stronger dollar hurts demand for dollar-denominated crude from foreign buyers.
Also Read: Asian equities decline post tech selloff, gold rises
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