Crude oil futures fell on Thursday morning after the United States and Iran concluded a round of indirect negotiations in Qatar without reaching a formal agreement.
The failure to secure a deal during the latest diplomatic engagement has removed a key catalyst for further price declines, leaving the market to digest the ongoing geopolitical uncertainty surrounding Iranian oil exports.
83 per barrel, while West Texas Intermediate (WTI) settled at $67.
Brent crude futures traded at $70.83 per barrel, while West Texas Intermediate (WTI) settled at $67.84.
Both benchmarks retreated from levels seen earlier in the week, reflecting a cautious stance among traders who had hoped for a breakthrough that might ease tensions in the Strait of Hormuz.
The lack of progress suggests that supply disruption risks remain a persistent factor in energy markets, preventing a deeper correction in prices despite the absence of immediate conflict escalation.
This development follows a series of diplomatic efforts aimed at de-escalating tensions between Washington and Tehran.