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The Economic Times

Business

Oil prices extend losses on expectations talks to ease Middle East supply woes

Iran Oil Middle East Qatar United States Oman Strait of Hormuz

Oil prices fell on Thursday, extending a streak of multiple days of losses, on expectations talks between Iran and Qatar may open the key Strait of Hormuz and reduce supply disruptions from the Middle East war.

Brent crude futures were down 60 cents, or 0.7%, to $87.24 a barrel by 0004 GMT, down for a fourth day. West Texas Intermediate crude futures fell 56 cents, or 0.7%, at $81.67, down for a fifth day.

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