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Oil prices fall as peace hopes offset fears of growing Middle East conflict
TOKYO: Oil prices fell on Thursday, paring the previous day’s gains, as hopes for peace talks took the edge off renewed concerns over Middle East supply disruptions from escalating regional conflict. Brent crude futures declined 82 cents, or 0.7%, to $114.50 a barrel by 0132 GMT. US West Texas Intermediate (WTI) crude futures were down $1.04, or 1.0%, at $101.74. Brent rose 1.3% and WTI gained 3% on Wednesday. US Vice President JD Vance sought to revive peace negotiations by sending a letter to Iranian Security Council chief Mohsen Rezaei, the Wall Street Journal said on Wednesday, citing ...
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