Oil falls more than 2% amid US and Iran talks
Business
Oil prices slid more than 2% on Friday, with Brent crude at $104.30 and WTI at $92.41 per barrel.
The dip comes as traders react to fresh U.S.-Iran negotiations and ongoing anxiety about Saudi Arabia's oil supply.
Mideast tensions unsettle oil markets
Talks between the US and Iran in New York have sparked hopes for easier sanctions and a possible reopening of the key Strait of Hormuz, but Iran is still holding firm on its nuclear plans.
At the same time, attacks from Yemen's Houthi group keep Saudi oil supplies under threat.
On top of that, a possible US diesel export ban is adding extra pressure to global oil markets, all against a backdrop of tense Mideast military discussions involving several countries.