#FirstRoundOfUSIranTalksConcludes



Oil prices declined after US-Iran talks concluded in Switzerland with Tehran saying it secured waivers for oil and petrochemical exports, easing worries about a supply shortage in global markets.

Brent crude ⁠fell $1.68, or 2.09 percent, to $78.89 a barrel by 06:33 GMT.

Prices climbed to $82.30 at the start of trading, prompted by a bumpy start to the negotiations, with threats from President Trump to restart the war on Iran and Tehran’s announcement it again ⁠closed the Strait of Hormuz.

“The decline has been driven primarily by improving prospects for a diplomatic breakthrough between the United States and Iran … reviving hopes ‌that sanctions on Iran could eventually be eased,” said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm.
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