Oil Prices Fall by Over 3 percent, Driven by Positive Developments Between Washington, Tehran.

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Oil Prices Fall by Over 3 percent, Driven by Positive Developments Between Washington, Tehran.

New York, June 12 (QNA) – Oil prices on Friday fell by more than 3 percent at settlement, as traders grew more confident of a peace agreement between the United States and Iran.

Brent crude futures settled at USD 87.33 a barrel, down USD 3.05, or 3.37 percent, marking their lowest level since early March.

West Texas Intermediate crude futures also fell, settling at USD 84.88 a barrel, down USD 2.83, or 3.23 percent, its lowest level since April 17. (QNA)