Brent and WTI Crude Futures Fall More Than 3 Percent
Oil futures extended losses after reports of possible progress toward a U.S.-Iran agreement. Brent crude and West Texas Intermediate both declined over three percent in early trading.
etftrends.comTraders cited market expectations of reduced supply disruptions if an agreement between the United States and Iran is reached.
The price decline extended a multi-day slide in global oil benchmarks. Volume remained elevated as participants adjusted positions ahead of any formal announcement. No official statements confirming a breakthrough have been issued by either government.
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