Oil Prices Subdued as US, Iran Resume Talks

Oil prices declined as the United States and Iran resumed negotiations over Tehran's nuclear program and potential sanctions relief. The talks, held in Vienna, raised hopes for easing tensions that have pressured global oil markets. Brent crude futures fell 1.2% to $85.40 per barrel, while West Texas Intermediate dropped 1.1% to $82.80. Analysts noted the discussions could lead to increased Iranian oil exports, potentially offsetting supply disruptions elsewhere.