DOHA, Qatar – Web Desk: Global crude oil prices experienced a sharp decline following the conclusion of indirect talks between the United States and Iran in Doha, which Qatari officials described as a “positive development” that eased investor concerns over supply disruptions.
According to Reuters, Brent crude oil fell 73 cents, or 1.02 percent, to $70.84 per barrel, while U.S. West Texas Intermediate (WTI) crude dropped 83 cents, or 1.21 percent, to $67.75 per barrel. Both benchmarks had already declined more than one percent in the previous trading session, reaching their lowest levels in four months .
Sources familiar with the negotiations revealed that American and Iranian negotiators discussed key issues during the two-day talks, including maritime traffic through the Strait of Hormuz, global shipping security, and the unfreezing of Iran’s financial assets . The Strait of Hormuz is one of the world’s most critical oil transit chokepoints, through which approximately 20 million barrels of crude oil and oil products were shipped daily in 2025, accounting for about a quarter of global seaborne oil trade .
Analysts say that if diplomatic progress continues and conditions normalize in the Strait of Hormuz, oil prices could face further downward pressure. However, they caution that any new tensions in the region could trigger a rapid price surge. Investors are closely monitoring upcoming negotiation rounds, maritime activity in the Gulf, and potential decisions regarding Iran’s frozen assets, as these factors will determine the direction of global energy markets in the coming days
