E-Paper | May 02, 2026

US oil benchmark loses 5pc as Iran proposes new US talks

Published May 1, 2026 Updated May 1, 2026 07:53pm
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The US oil benchmark falls 5 per cent after Iranian media reported that Tehran had delivered a new proposal for talks with the United States via mediator Pakistan, AFP reports.

A barrel of West Texas Intermediate (WTI) was trading at $99.85 down 4.97pc, after briefly losing more than 5pc, while Brent North Sea crude dropped 3.10pc to $106.98.

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