Oil Prices Fall 2% as Fears of Potential Supply Disruptions Ease

Oil Prices Fall 2% as Fears of Potential Supply Disruptions EaseSingapore, 5 Feb (ONA) — Oil prices fell about 2% today after the US and Iran agreed to hold talks, easing concerns that a potential military conflict between them could disrupt supply. Brent crude futures fell $1.44, or 2.07%, to $68.02 per barrel, while US West Texas Intermediate crude prices fell $1.34 cents, or 2.06%, to $63.80. Oil prices rose by about 3% on Wednesday after reports suggested the planned talks between the United States and Iran, before officials from both sides said talks would go ahead.— Ends/Khalid