U.S. crude oil falls below $100 per barrel after Trump says Iran talks in final stages
Cracking towers stand beside access roads at the Ruwais refinery and petrochemical complex, operated by Abu Dhabi National Oil Co. (ADNOC), in Al Ruwais, United Arab Emirates.
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U.S. crude oil prices fell more than 4% on Wednesday after President Donald Trump said talks with Iran are in the final stages.
West Texas Intermediate futures fell nearly 5% to $99.08 per barrel by 12:01 p.m. ET. International benchmark Brent futures lost 5% to $105.64 per barrel.
Trump said earlier in the week that he called off renewed military strikes against Iran to give more time for diplomacy at the request of Gulf Arab allies.
The president told reporters earlier Wednesday that the administration was in the “final stages” of negotiations with Iran, according to a pool report.
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