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Brent crude dropped 2.52 percent to $102.13 per barrel and WTI fell 1.96 percent to $94.57 amid reports of progress in US-Iran talks. Sources say discussions focus on announcing an interim agreement, though a final deal remains unconfirmed.
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Iranian officials stated that the United States did not provide a persuasive answer to their recent requests, indicating continued diplomatic tension.
Iran
Washington has approved a draft understanding with Tehran. Both sides are said to have made compromises regarding atomic restrictions and held assets.
Iran
President Trump responded to questions about a potential military strike on Iran following the upcoming elections by stating, "We'll see.
Iran
The head of Iran's armed forces stated that the country will counter any threat with an immediate and effective response that is not limited geographically.
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Tehran says mediators are narrowing differences with Washington, but demands its terms be met before the strait reopens. The military chief listed five peace conditions, including ending regional conflicts and unfreezing Iranian assets.
Iran
A Qatari foreign ministry spokesperson said the United States and Iran are reviewing a proposal that could pave the way for future negotiations. A Qatari mediation team returned to Doha after visiting Tehran on Monday night.
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