Oil prices fall as Brent crude drops to $79 a barrel
Oil prices declined on Monday as investors weighed progress in Iran-Oman talks and its impact on US-Iran relations.
Key Takeaways
AIOil prices fell on Monday as investors assessed whether progress in talks between Iran and Oman could pave the way for a US-Iran agreement to end the five-month war and reopen the Strait of Hormuz.
Brent crude futures dropped by 37 cents, or 0.5%, to $79.08 a barrel.
US West Texas Intermediate crude futures declined by 53 cents, or 0.7%, to $74.69 a barrel.