Renewed hopes of Iran peace talks keep oil under $100 per barrel
Oil prices fell on Friday after reports that Iran's Foreign Minister Abbas Araghchi was to arrive in Islamabad for potential talks with US officials, easing concerns about the Middle East crisis. Brent crude fell back below $100 a barrel as a result.
Oil prices dropped on Friday after it appeared a second round of Middle East talks was back on, bolstering prospects for an end to a war that has crippled energy shipments from the Gulf. Iran's Foreign Minister Abbas Araghchi was to arrive in Islamabad on Friday night, sparking hopes of de-escalation. Brent crude, the international benchmark contract, fell back below $100 a barrel. The Pakistan capital was gearing up for an anticipated second round of talks between the United States and Iran. Global stock markets have recently recovered heavy losses suffered at the start of the war, with chipmakers outperforming thanks to optimism about growth in the artificial intelligence sector. Intel's shares rocketed 25 percent higher after it forecast rising revenue on strong demand for its AI chips.
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