Oil prices drop 4% on hints of U.S.- Iran deal

Oil prices dipped by 4% late last week after U.S. President Donald Trump said the United States was close to a nuclear deal with Iran, while a top Iranian official hinted at Tehran abandoning uranium enrichment if the U.S. lifts the economic sanctions.

In Asian and early European trade on Thursday, the U.S. oil benchmark, WTI Crude, was down by 4.12% at $60.58 a barrel, while the international benchmark, Brent Crude, was falling by 3.80% on the day and traded at $63.52 per barrel.

– OilPrice.com