Brent crude futures fell more than 1% toward $68 a barrel on Thursday, snapping a two-day advance after Tehran confirmed it would hold talks with Washington this week, easing concerns that a broader conflict could disrupt oil flows. Iranian Foreign Minister Abbas Araghchi said discussions will take place in Oman on Friday, while a White House official confirmed that the US and Iran still plan to engage on a potential nuclear deal.
Uncertainty remains over the scope of the negotiations, with Tehran seeking to confine talks to its nuclear program, while Washington wants to broaden the agenda to include Iran’s ballistic-missile program, support for regional militant groups and human rights issues. Oil had rallied over the previous two sessions as rising Middle East tensions lifted the geopolitical risk premium.
