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Oil prices deepen losses as Trump points to potential Iran agreement
Yahoo Finance· 2026-05-06 17:35
Oil prices continued to fall on Wednesday after U.S. President Donald Trump suggested that negotiations with Iran were making progress, raising expectations that disrupted Middle Eastern oil supply could eventually return to global markets. Brent crude futures dropped $6.70, or 6.1%, to $103.17 a barrel by 08:56 GMT after earlier touching their lowest level in nearly two weeks. U.S. West Texas Intermediate crude declined $6.77, or 6.6%, to $95.50 a barrel. Both benchmarks had already fallen around 4% in the ...