Oil prices fell sharply on Thursday amid growing optimism over a potential breakthrough in nuclear talks between the United States and Iran.
The decline followed comments by U.S. President Donald Trump, who said a deal with Tehran was “getting close.” U.S. media also reported that Iran may be willing to accept significant limitations on its nuclear programme in exchange for sanctions relief.
Trump made the remarks in Qatar during a tour of the Gulf region, expressing optimism about avoiding a military confrontation with Iran.
“We’re not going to be making any nuclear dust in Iran,” he said. “I think we’re getting close to maybe doing a deal without having to do this.”
The two countries recently concluded their fourth round of negotiations—the highest-level talks since Trump withdrew from the 2015 nuclear agreement in 2018.
Both major crude benchmarks fell by more than three percent following the developments. Prices had already been under pressure earlier in the day amid signs that Tehran could be open to U.S. demands.
Citing U.S. broadcaster NBC News, reports said an adviser to Iran’s Supreme Leader Ayatollah Ali Khamenei indicated that Tehran might accept broad restrictions on its nuclear activities if it leads to the lifting of economic sanctions.
