Optimistic Outlook on US-Iran Talks Sees Brent Crude Fall Below Pre-Middle East War Close

US-Iran War Key News

HONG KONG, June 25 (CNA) -- Brent crude oil futures fell more than 1% today, dropping below their closing price before the outbreak of the Middle East war, as investors grew optimistic about the progress of US-Iran peace talks and oil tankers continued to pass through the Strait of Hormuz.

August futures for Brent crude fell to $72.44 per barrel, compared to the closing price of $72.48 on February 27.

After the United States and Israel jointly attacked Iran on February 28, Brent crude prices had surged to a high of $119 per barrel within weeks. (Compiled by: Hsu Rui-cheng) 1150625

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