[International Oil Prices] Fall for Second Straight Day as Hopes for U.S.-Iran Talks Persist

[Financial News]  

International oil prices continued to fall on the 3rd (local time).
Hopes that the United States and Iran could end the war through negotiations drove oil prices lower for a second straight day.
Brent crude, the benchmark grade for international oil prices, for January delivery next year settled at $103.60 a barrel, down 1.1% from the previous session.
West Texas Intermediate (WTI), the benchmark grade for U.S. oil prices, for December delivery settled at $96.09 a barrel, down 0.4%.
Both grades had plunged by more than 7% each the previous day.
Reports emerged that the U.S. military had bombed Qeshm Island, an Iranian strategic stronghold in the Strait of Hormuz, on the 2nd. But hopes for negotiations persisted after Vice President JD Vance said he hoped to reach an agreement with Iran.
CNBC reported that Qatar’s Ministry of Foreign Affairs said it was continuing to broker negotiations between the United States and Iran that day. The ministry said a Qatari delegation had held talks in Tehran, Iran’s capital.
However, friction also persisted.
According to Iran’s state-run IRNA news agency, Esmail Baghaei, a spokesman for Iran’s Ministry of Foreign Affairs, said on the 3rd that diplomacy based on coercion was unacceptable.

[email protected] Song Kyung-jae Reporter